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Highlights
- VeChain’s platform is designed to improve real-world supply chain management and business processes.
- It has some big names in terms of partners like Walmart, BMW, etc.
- The platform uses two native tokens, VET and VTHO.
The overall cryptocurrency market has performed well in comparison to previous day. It has risen by 0.81% in the last 24 hours to US$2.15 trillion. While Bitcoin saw a drop of 0.60% over the last day, several altcoins like Ethereum, XRP, Cardano, Solana, etc., are trading in green. One such altcoin is VeChain, which has garnered traction lately and is witnessing a price jump.
Source: © Shahurin | Megapixl.com
What is VeChain (VET) crypto?
Created by Sunny Lu, VeChain’s platform seeks to improve business processes and supply chain management by making use of DLT, i.e., distributed ledger technology.
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The platform focuses on distributed governance and (IoT) technologies to develop an ecosystem for multiple global industries by solving major data hurdles, thereby enabling transparent information flow, efficient collaboration and high-speed value transfers.
These industries include energy, food & beverage, and medical among others. BMW, Walmart, Bayer and LVMH are a few of the corporations which have started using the VeChain blockchain.
It is pointed out that the VeChain platform uses two native tokens, one is the VET coin, for voting on changes to the protocol, and the second is VTHO, for executing transactions and paying GAS costs.
VeChain crypto’s price and performance
There are around 64 billion VET coins in circulation, and the current market capitalisation is over US$5.4 billion. The max supply is capped at 86.71 billion VET coins.
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On Thursday, at the time of writing, VeChain was jumping by 17.10% at US$0.08526.
Where to trade in VeChain crypto?
Many major crypto exchanges across the world facilitate the trading of this crypto. Some of them are Binance, FTX, Hotcoin Global, Bybit, Upbit, etc.
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Bottom Line
The cryptocurrency market is extremely speculative and prone to scams. One must do thorough research and take appropriate caution while investing in these new-age digital currencies.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
