VeChain (VET) Self Reported Market Capitalization Achieves $1.92 Billion

VeChain (VET) traded 1.6% higher against the US dollar during the 1-day period ending at 16:00 PM E.T. on July 5th. One VeChain coin can currently be purchased for approximately $0.0238 or 0.00000042 BTC on major cryptocurrency exchanges. VeChain has a total market cap of $1.92 billion and approximately $85.47 million worth of VeChain was traded on exchanges in the last 24 hours. In the last week, VeChain has traded down 11.1% against the US dollar.

VeChain Profile

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

Buying and Selling VeChain

It is usually not presently possible to purchase alternative cryptocurrencies such as VeChain directly using US dollars. Investors seeking to trade VeChain should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase VeChain using one of the exchanges listed above.

VET/USD price chart by TradingView