By leveraging the power of trustless data, VeChain is building the digital backbone that will underpin the fourth industrial revolution, which demands real-time and trustless data sharing between many participants.

The platform uses two tokens, VET and VTHO, to manage and create value based on its VeChainThor public blockchain. VET generates VTHO and acts as the store of value and value transfer medium. VTHO is used to pay for GAS costs, separating the need to expend VET when writing data. This has the additional benefit of ensuring costs of using the network can be kept stable by tweaking certain variables such as the amount of VTHO required to service a transaction, or by increasing the VTHO generation rate.

Vet crypto news today

VET Price Today

VeChain price today is $0.028192634365 with a 24-hour trading volume of $188,743,662. VET price is up 2.5% in the last 24 hours. It has a circulating supply of 73 Billion VET coins and a total supply of 86 Billion.
If you are looking to buy or sell VeChain, WOO Network is currently the most active exchange.

What was the highest price for VeChain?

VeChain hit an all time high of $0.280991 on Apr 19, 2021 (over 1 year).

What was the lowest price for VeChain?

VeChain had an all time low of $0.001917133347 on Mar 13, 2020 (over 2 years).

What was the 24 hour trading volume of VeChain?

The 24 hour trading volume of VeChain is $188,743,662.

Where can VeChain be traded?

You can trade VeChain on WOO Network, Digifinex, and Binance.

Vet cryptocurrency news today

VeChain price does close above $0.100 on a daily basis, VET investors are free to consider new long positions; otherwise, target pilot buys against critical support or remain on the sidelines until a clear buy signal is defined.

It is tough to dispute the importance of social media volume in driving prices higher in the crypto market, particularly during blow-off tops like those witnessed in April and May.

The social volume of VET has been trending lower since the April VeChain price peak, but there are signs that the Santiment Social Volume metric may be bottoming as the 7-day average turned higher over the last couple of days.

The metric tends to press higher in times of rising prices and trend lower during times of weakness, so the current development could be green-shoot in the VET social volume metric chart.

  • VeChain price recovers some of the intra-day losses and recoups ascending channel trend line.
  • Lack of impulsiveness since April 23 keeps rebound categorized as a corrective.
  • VET moving averages remain in uptrends, indicating a basis for support.
  • VeChain price has orchestrated an ascending channel since the April 23 low, revealing few hints of direction. The ambiguous price action should keep traders on the sidelines until there is a clear resolution of the channel, but the overall bias is tilted to the downside.

    VeChain price frustrates both sides of the trade

    No doubt, VET has been a leading performer in the cryptocurrency complex in 2021, but since the blow-off move in mid-April and the resulting correction, VeChain price has resisted confirming price direction.

    Vet crypto news todays

  • VeChain price completes complex topping process and busts two strategically important support levels.
  • May 23 low of $0.65 is now in play as downside momentum accelerates across the cryptocurrency complex.
  • VET social media volume remains in a steady downtrend, but investors should be mindful of a double bottom pattern.
  • VeChain price is currently down over 20% and is one of the ten worst performing cryptocurrencies on the core coverage list. The break with the rounded top has been a powerful resolution for the unsettled price action that dominated VET over the last month.

    Popular trading pairs for VeChain in the market includes VET/USD, VET/CAD, VET/EUR, VET/PHP, VET/INR, and VET/IDR.

    What is Vechain?

    VeChain (VET) is a versatile enterprise-grade L1 smart contract platform.

    VeChain began in 2015 as a private consortium chain, working with a host of enterprises to explore applications of blockchain. VeChain would begin their transition to public blockchain in 2017 with the ERC-20 token VEN, before launching a mainnet of their own in 2018 using the ticker VET.

    VeChain aims to use distributed governance and Internet of Things (IoT) technologies to create an ecosystem which solves major data hurdles for multiple global industries from medical to energy, food & beverage to sustainability and SDG goals.

    A collective sell-off in cryptocurrencies may force VeChain price to test the 50% retracement at $0.081.

    VET/USD 12-hour chart

    The bearish narrative is abolished if VeChain price achieves a daily close above the channel’s upper trend line and the April 16 high at $0.278.

    According to the data from over 1000 crypto-related channels, including Telegram groups, crypto reddits, discord groups, and private trader chats, VeChain’s daily social volume languishes at a low level. The low reading of VET mentions illustrates that it is not on the radar of retail investors, despite a mild upward trajectory.

    VET related mentions on social media

    A subdued level of social interest does provide the basis for buying pressure if VeChain price does eventually resolve the channel to the upside.

    There is no doubt that blockchain technology can be an important innovation to supply chain management. With a growing list of business partnerships and technological developments, VeChain is positioning itself to be THE disruptive, and innovative force that reshapes the way we think about supply chain management.

    VeChain team

    Sunny Lu is the CEO of the VeChain Foundation and has already become an important figure in the blockchain space.
    Before he established VeChain, he co-founded the Chinese Internet start-up which developed <a href=””Qtum</a, a very important digital asset in the crypto space. He was previously the CIO and COO of Louis Vuitton China.The team behind VeChain consists of over 90+ employees, most of them being developers.

    Such actions first require all-stakeholder community votes.

    VeChain has been able to demonstrate massively boosted efficiency, traceability and transparency across data trails, supply chains and within novel kinds of ecosystems, such as those in San Marino targeting UN SDGs, among others.

    Vechain Foundation

    There is also the VeChain Foundation. The Vechain Foundation is a non – profit entity established in Singapore in July 2017 and is responsible for the construction of the network, and technological research and development.
    The Foundation also plays an important role in business development. The Foundation encourages and supports partnerships with enterprises that may be interested in utilizing blockchain technology as a service.
    This includes payment services, private key management, smart contract development, and wallet development.

    With no clear support until the May 23 low, the altcoin should endure further losses moving forward.

    VeChain price down 70% from the April high

    VeChain price offered warning signs, including the lack of strength on the Bitcoin price jump of over 30% and the lack of accumulation during the complex topping process. Hence, the lack of decisiveness and commitment under the weight of a declining 50-day simple moving average (SMA) was too much pressure for VET to overcome.

    Today’s decline, now near 23% at the time of writing, is the largest decline since the massive May 19 washout of 34.92%.

    The collapse has crushed the anchored volume-weighted average price (anchored VWAP) at $0.088 and the strategically important 200-day SMA at $0.085 and put VeChain price on the course to at least test the May 23 low of $0.065.

    The entire bounce has looked more corrective than impulsive.

    The intra-day decline today, although noteworthy, did not undercut the May 5 low at $0.181, keeping the series of higher lows intact and VET in a minor uptrend.

    A daily close below the channel’s lower trend line at $0.194 would be the first clear signal of future price direction since April 23. If the close is followed by a trade below the May 5 low, it would confirm a minor trend change and a quick test of the 100 twelve-hour simple moving average at $0.159.

    If VeChain price trades below the April 23 low at $0.128, it would signal that a more significant trend change is occurring, and traders should be prepared for a deeper correction to the 38.2% Fibonacci retracement at $0.108.

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