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Currently trading at $ 0.007287 , which has fallen by -4.19% over the last 24 hours . Market capitalization is $626.6M (market down -4.19% in 24h) . 24h volume: $23.1M. Circulating supply: 2,147,483,647 VET. Hourly change: +0.1%. Weekly change: +3.27%.
| Date | Price | % Change |
|---|---|---|
| Now | $ 0.007287 | - |
| 1 Hour | $ 0.007294 | +0.1% |
| 1 day | $ 0.006982 | -4.19% |
| 7 days | $ 0.007525 | +3.27% |
| 30 days | $ 0.006396 | -12.23% |
| 60 days | $ 0.004543 | -37.66% |
| 90 days | $ 0.005476 | -24.86% |
| Rank | #58 |
| Price | $0.01 |
| Market Cap | $626.6M |
| Trading Volume (24h) | $23.1M |
VeChain (VET) is ranked #58 based on its market cap of $626,588,836.00. VET is trading at $0.01 where the total trading volume in the last 24h was $23,084,737.00.
VeChain is a blockchain platform that aims to enhance supply chain management and other business processes by leveraging distributed ledger technology. Launched in 2015, VeChain is focused on providing enterprises with tools for tracking and managing their products, from raw materials to finished goods, in a secure, transparent, and efficient way.
At its core, VeChain is a decentralized platform that enables companies to create digital representations of their products on the blockchain. These digital representations, known as 'digital twins,' are unique, tamper-proof, and can be used to track the entire lifecycle of a product, from production to consumption. By creating a digital twin of their products, companies can increase transparency and traceability in their supply chains, helping to prevent counterfeiting and fraud.
One of the key features of VeChain is its use of NFC (Near Field Communication) and RFID (Radio Frequency Identification) technology to connect physical products with their digital twins on the blockchain. This allows companies to track the movement and location of their products in real-time, providing them with greater visibility and control over their supply chains. For example, a company could use VeChain to track the movement of a shipment of goods from a factory in China to a warehouse in Europe, providing them with real-time data on the shipment's progress and ensuring that the goods have not been tampered with or diverted.
Another key feature of VeChain is its focus on enterprise adoption. The platform is designed to be scalable, flexible, and easy to integrate with existing enterprise systems, making it a practical and cost-effective solution for businesses of all sizes. VeChain's partnerships with major enterprises, including Walmart China and PwC, are a testament to its potential in the business world.
VeChain is also committed to sustainability and social responsibility. The platform has launched several initiatives aimed at promoting sustainable business practices, including the VeChain ToolChain Sustainability Solution, which allows companies to track the sustainability of their products throughout their lifecycle. Additionally, VeChain has partnered with several non-profit organizations, including the United Nations Development Programme, to promote social and environmental sustainability.
VeChain's native cryptocurrency, VET, plays an important role in the platform's ecosystem. VET is used to pay for transaction fees and other services on the network, as well as to generate VeChainThor Energy (VTHO), which is used to power transactions and smart contracts on the platform. VET can also be used to stake on the VeChain network, allowing users to earn rewards and participate in the platform's governance.
VeChain has a growing ecosystem of dApps (decentralized applications) built on its platform. These dApps include VeChain Pro, a blockchain-based traceability solution for food safety, and VeChain ToolChain, a blockchain-as-a-service (BaaS) platform that enables businesses to create and manage their own blockchain applications.
Overall, VeChain is a promising solution for supply chain management and other enterprise use cases. Its focus on digital twins, real-time tracking, and enterprise adoption make it a practical and scalable solution for businesses looking to enhance their supply chain management processes. Additionally, VeChain's commitment to sustainability and social responsibility aligns with the growing demand for ethical and sustainable business practices. As the platform continues to evolve and expand its ecosystem, VeChain is likely to play an increasingly important role in the future of blockchain technology.
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