VeChain (VET) Hits 1-Day Trading Volume of $55.87 Million

VeChain (VET) traded 5.7% higher against the US dollar during the 1 day period ending at 20:00 PM Eastern on May 15th. One VeChain coin can currently be purchased for about $0.0355 or 0.00000054 BTC on major cryptocurrency exchanges. During the last week, VeChain has traded 1.4% higher against the US dollar. VeChain has a market capitalization of $2.58 billion and approximately $55.87 million worth of VeChain was traded on exchanges in the last day.

VeChain Profile

VeChain is a Proof of Authority coin that uses the VeChainThor Authority hashing algorithm. It launched on June 1st, 2016. VeChain’s total supply is 85,985,041,177 coins and its circulating supply is 72,714,516,834 coins. 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. 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 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 Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy VeChain using one of the exchanges listed above.

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