VeChain (VET) Self Reported Market Cap Hits $1.88 Billion

VeChain (VET) traded down 1.7% against the U.S. dollar during the 1-day period ending at 10:00 AM ET on October 16th. During the last seven days, VeChain has traded up 5% against the U.S. dollar. One VeChain coin can now be purchased for about $0.0233 or 0.00000035 BTC on exchanges. VeChain has a total market capitalization of $1.88 billion and $37.07 million worth of VeChain was traded on exchanges in the last day.

About VeChain

VeChain is a Proof of Authority coin that uses the VeChainThor Authority hashing algorithm. Its launch date was June 1st, 2016. VeChain’s total supply is 85,985,041,177 coins and its circulating supply is 80,985,041,177 coins. The official message board for VeChain is vechainofficial.medium.com. VeChain’s official website is www.vechain.org. The Reddit community for VeChain is https://reddit.com/r/vechain and the currency’s Github account can be viewed here. VeChain’s official Twitter account is @vechainofficial and its Facebook page is accessible here.

According to CryptoCompare, “VeChain (VET) is the native cryptocurrency of the VeChainThor blockchain. VET is used as a medium of exchange for activities and transactions on the VeChainThor blockchain and serves as a “fuel” to power the network. VET holders have the right to vote on governance decisions, participate in Proof of Authority (PoA) consensus, and receive rewards in the form of VTHO tokens. VET holders will also be able to benefit from other financial services such as staking, lending, and trading on third-party exchanges. With its innovative features, VeChainThor is positioned to be one of the most influential public blockchains, and VET is an integral part of this ecosystem.”

VeChain Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as VeChain directly using U.S. dollars. Investors seeking to acquire VeChain should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy VeChain using one of the aforementioned exchanges.

VET/USD price chart by TradingView