VeChain Self Reported Market Cap Tops $1.67 Billion (VET)

VeChain (VET) traded down 2.6% against the U.S. dollar during the twenty-four hour period ending at 19:00 PM E.T. on November 1st. One VeChain coin can now be bought for about $0.0206 or 0.00000030 BTC on exchanges. During the last week, VeChain has traded 7.8% lower against the U.S. dollar. VeChain has a total market capitalization of $1.67 billion and approximately $23.85 million worth of VeChain was traded on exchanges in the last 24 hours.

VeChain Profile

VeChain (CRYPTO: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. The Reddit community for VeChain is https://reddit.com/r/vechain and the currency’s Github account can be viewed here. The official website for VeChain 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.

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 currently possible to purchase alternative cryptocurrencies such as VeChain directly using U.S. dollars. Investors seeking to acquire VeChain should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. 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