VeChain Self Reported Market Cap Hits $2.71 Billion (VET)

VeChain (VET) traded 1.3% higher against the US dollar during the 1 day period ending at 23:00 PM ET on May 5th. One VeChain coin can currently be purchased for about $0.0373 or 0.00000058 BTC on cryptocurrency exchanges. During the last week, VeChain has traded down 5.6% against the US dollar. VeChain has a total market cap of $2.71 billion and $38.23 million worth of VeChain was traded on exchanges in the last day.

About VeChain

VeChain (VET) is a Proof of Authority coin that uses the VeChainThor Authority hashing algorithm. Its genesis date was June 1st, 2016. VeChain’s total supply is 85,985,041,177 coins and its circulating supply is 72,714,516,834 coins. 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. The official website for VeChain is www.vechain.org. The official message board for VeChain is vechainofficial.medium.com.

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 US dollars. Investors seeking to trade VeChain should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase VeChain using one of the aforementioned exchanges.

VET/USD price chart by TradingView