YTD
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VeChain Thor (VET)VET
$0.023956
-72.56%
VeChain Thor (VET)
VET Price
$0.023956
-72.56%
Rank
#34
Market Cap (YTD)
$1.74B
-70.20%
Volume (YTD)
$93.59B
-31.34%
Circulating Supply
72,511,146,418
Transp. Vol.
Grade
1H1D1W1M1Y
VeChain Thor logo
VET
United States Dollar logo
USD
Websitehttps://www.vechain.org/
CommunityTwitter
VeChain Thor (VET) is a cryptocurrency and smart contracts platform focused on enterprise use. It utilizes IoT technolog...Read more
Prediction

VeChain Thor Price (VET)

VET Year-to-Date Performance

Today's VeChain Thor price is $0.023956, which is down 73% since the year began. VeChain Thor's market cap is $1.74B. Year to date VET volume is $93.59B. It has a market cap rank of 34 with a circulating supply of 72,511,146,418 and max supply of 85,985,041,177. VeChain Thor is traded on exchanges. VeChain Thor had an all-time high of $0.254607 about 1 year ago. Since the year began, VeChain Thor has had 0% transparent volume and has been trading on 228 active markets with its highest volume trading pairs being .

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VeChain Thor Statistics

VeChain Thor Price (ytd)$0.023956 (-72.56%)
Market Cap$1.74B (-70.20%)
Trading Volume (ytd)$93.59B (-31.34%)
Transparent Vol. (ytd)
Unknown
Transparency GradeUnknown
Circulating Supply72,511,146,418 (84.33%)
All-Time High
$0.254607-90.59%
4/18/2021 (1 year ago)
7D Price Prediction
$0.02528

Price

$0.023956
Price Change
-$0.063354 (-72.56%)

All-Time High

$0.254607
Date of ATH4/18/2021
Days Since ATH445
% of ATH9.41%
Price vs ATH

Market Cap

$1.74B
Mkt Cap Change
-$4.09B-$4,091,779,533 (-70.20%)
Mkt Cap Rank34
Mkt Dominance
Mkt Dominance

Circulating Supply

72,511,146,418
Max Supply85,985,041,177
% in Circulation84.33%
% in Circulation

About VeChain Thor

VeChain Thor (VET) is a cryptocurrency and smart contracts platform focused on enterprise use. It utilizes IoT technology (like NFC chips, RFID trackers, and QR codes) and connects them to a single distributed ledger. According to the VeChain Foundation, partnerships have been developed with companies in several industries including luxury goods, automotive, agriculture, logistics, food/drug, and governments.

Sunny Lu, former Chief Information Officer of Louis Vuitton China, founded VeChain in 2015. Initially, VeChain launched as an ERC-20 token called VEN. In August 2017, VeChain held an Initial Coin Offering (ICO) where 200,000 ETH was raised which was about $60 million at the time.

On June 30, 2018, VeChain released VeChain Thor on its own mainnet. With the roll-out of this independent blockchain, token holders swapped VEN for VET, at an exchange rate of 1:100. (VEN is no longer active.)

The VeChain Thor blockchain uses a dual token model. VET is the native token and functions as a store of value, whereas VTHO is used to pay for using and building apps on the blockchain. VTHO is automatically generated by owning VET. By using a dual token model, transaction fees remain more stable compared to a system where there is only one coin.

The VeChain Foundation, a Singapore based non-profit founded in 2017, maintains the VeChain Thor blockchain.

Instead of using fully decentralized consensus models like PoW or PoS, new blocks on the VeChain Thor blockchain are validated via a “Proof-of-Authority” (PoA) consensus algorithm. An innovation of the Proof of Stake model, PoA consensus uses identity and reputation as the form of stake instead of actual tokens. With VeChain Thor’s version of PoA, 101 known validators (Authority Nodes) produce new blocks on the blockchain. Each Authority Node requires full KYC, a formal application, dedicated hardware for the Node, 250 million VET at a minimum, and ultimately selected by the VeChain Foundation.

Because the identities and reputations of the validators are at stake, it’s argued that the validators will be held accountable and incentivized to work in the best interest of the network’s growth and security. The benefit of using trusted validators is increased blockchain efficiency which allows for greater scalability and lower transaction fees while still remaining secure.

There is no mining on the VeChainThor blockchain. A 51% attack would require that 51 of the 101 validators collude with one another, which is unlikely.

VeChain has a Blockchain-as-a-Service ("BaaS") platform called ToolChain. ToolChain is a blockchain platform offering services such as product lifecycle management, supply chain process control, data deposit, data certification, and process certification. ToolChain allows businesses of all sizes and technical abilities to utilize blockchain technology.

VeChain has a number of impressive enterprise-grade partners including Walmart China, BYD, Renault, BMW, and PricewaterhouseCooper.

VeChain is headquartered in Shanghai and has satellite offices in Singapore, Paris, Luxembourg, Palo Alto, Tokyo and Hong Kong.

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VeChain Thor Markets

(Top 10)
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VeChain Thor Historical Data

(Past 7 Days)
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Frequently Asked Questions

  • What’s the current VeChain Thor price? How much is 1 VeChain Thor worth?

    The price of 1 VeChain Thor is $0.023956. Visit our currency converter page to convert VET prices to currencies other than USD.
  • When did VeChain Thor start?

    The earliest trading data for VeChain Thor is on July of 2018 (based on current exchange data).
  • How high can the VeChain Thor price go?

    VeChain Thor’s price has gone as high as $0.254607 (which is VET’s all-time high). It achieved this price about 1 year ago. Speculations abound for how high VeChain Thor’s price will get in the future.

Today's VET / VeChain Thor News for July 7, 2022

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