Vechain (VET) ERC20 Token Analytics | Binance Smart Chain Mainnet | Bitquery (2024)

FAQs

Is VeChain an ERC20 token? ›

VEN is an ERC20 token to be swapped for the main net VeChain coins with the ticker VET. Never send main net VET coins to an Ethereum address as this may result in loss of tokens.

Unlike most altcoins, VET and VTHO are not based on Ethereum. Instead, they run on Thor, VeChain's native blockchain. This means that popular software wallets like Metamask are not compatible with VeChain tokens.

VeChain May be an Overhyped Technology

“Blockchain has been heralded as a potential panacea for everything from poverty and famine to cancer. In fact, it is the most overhyped – and least useful – technology in human history.”

VTHO is generated by holding VET, so you can earn VTHO by holding a VET balance.

The VEN token once operated on the Ethereum platform, but in 2018, VeChain switched to its own blockchain and rebranded itself as the VeChainThor (VET) blockchain. Through data transparency, VeChain hopes to disrupt the supply chain industry.

VeChain Sync is the official desktop wallet. Users can connect their Ledger device to the VeChain Sync and access and manage VET, VTHO or VIP180 tokens.

Initially, the VEN token functioned on the Ethereum blockchain. VeChain transitioned onto its own blockchain and rebranded itself in 2018. As part of the rebrand, the VEN blockchain became the VeChainThor (VET) blockchain.

VeChain is not currently supported across Coinbase's vast ecosystem. There are still ways you can find a way to buy VeChain.

If this trend persists, VeChain might easily reach $1 within the next few years or even more. Anything might happen in the cryptocurrency market, so this is by no means a guarantee. However, VeChain appears to be positioned for long-term growth, and $1 seems like a reachable goal in the foreseeable future.

What problem is VeChain solving? ›

VeChain (VET) is a blockchain platform that seeks to enhance supply chain management processes with specialized functions. It uses tamper-proof distributed ledger technology to determine the authenticity and quality of products purchased by platform users.

December 2023: VeChain Price Forecast

Cryptocurrency experts are ready to announce their forecast for the VET price in December 2023. The minimum trading cost might be $0.0309969, while the maximum might reach $0.0379962 during this month. On average, it is expected that the value of VeChain might be around $0.0319968.

The major difference between VET and VTHO is the way both tokens are used. Even though they are used on the same platforms, they differ in their usage. The more VET a user has, the higher priority he gets. On the contrary, the VTHO token is the gas costs that confirm decentralized applications.

VTHO is generated automatically via holding VET tokens. In other words, whoever holds VET will be given VTHO for free and be able to use VeChain for free as long as the operations performed consume less than the VTHO generated.

VeThor token has a good long-term earning potential. In the long term, the VTHO is predicted to be a profitable investment by continuing to increase in price, market cap, trading volume and thus generate great returns for the investors.

VeChain partnered with Walmart's subsidiary based in China in order to develop a traceability platform based on VeChainthor. By design, the platform works towards scaling approx 100 product lines across 10 product categories.

Answer: VeChain blockchain and VET tokens have a future, especially in logistics and supply management. It allows developers to build custom smart contracts and dApps on it, which extends its application.

VeChain (唯链), a subsidiary of China's BitSE, is enterprise software designed to create, manage, maintain, and update shared data about products in the supply chain.

MetaMask extension: click the three dots > click view account details >reveal private key. MetaMask mobile app: settings> show private key for "account x"> click "show private key"

How do I get VeChain on my trust wallet? ›

Choose the crypto exchange pair

Choose VeChain in the “You send” section. Next, enter the amount of VET you would like to exchange. Then select Trust Wallet Token in the “You get” section. Click the Exchange button.

Amazon is further expanding the partnership by working with Shanghai Exploration Chain through Amazon's cloud technology division. Through this partnership, Amazon will provide trusted carbon management for businesses using Dual Carbon — a key feature of VeChain's VeCarbon.

VeChain Tech seeks to provide blockchain-based solutions for real-world business needs. Before its recent partnership with Laava, VeChain Tech had established partnerships with some of the other leading businesses such as Walmart China, Bayer China, BMW Group, BYD Auto, PICC, Shanghai Gas, LVMH, D.I.G, ASI Group.

The VeUSD stablecoin was launched in May 2022. VeUSD is the first stablecoin native to the VeChainThor chain, developed by the VeChain Foundation, in collaboration with Stably, a U.S.-based asset tokenization infrastructure provider. VeUSD is a VIP-180 token, which is a subset of the ERC-20 standard.

Is VeChain limited supply? VeChain's maximum token supply currently stands at 86.712 billion tokens.

The Chinese arm of the US retail giant saw a rise in engagement on the VeChain network in November. The VeChain crypto community expects a price spike for the VET token due to the large volume of usage.

KuCoin currently offers VeChain (VET) cryptocurrency trading as well as over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts USA residents. Read our KuCoin Review or visit KuCoin.

Started as a project in 2007, VeChain coin was officially launched in 2015 and it started trading in 2017. It was founded by Sunny Lu who is also the co-founder of China's largest blockchain technology company, BitSE. VeChain Foundation recently rebranded and renamed the crypto as VeChain Thor.

Download Trust Wallet for VeChain (VET) The mobile app works with several crypto tokens and blockchain wallets. With Trust Wallet, you are in control over your funds. Receive, send, store and exchange your cryptocurrency within the mobile interface.

As the whole ecosystem is designed to tackle data challenges in the supply chain sector, the use of the token has real-world applications. A VET price prediction 2025 could easily see the coin trading around $1.

Should I invest in VeChain? ›

Is VeChain a good investment? It might be. VeChain performed very well in 2021, but it is currently trading down over 90% from its all-time high. That said, you do need to be cautious.

VeChain Price Summaries

It is currently -11.97% from its 7-day all-time high of $0.01936, and 4.30% from its 7-day all-time low of $0.01633. VET has a circulating supply of 72.51 B VET and a max supply of 86.71 B VET.

VeChain Is Here To Stay:

The firm offers to purchase, stake, and selling of its token on the marketplace. Moreover, it allows the transfer of monetary value throughout the globe at a very low cost. VeChain has over 5 investor companies and 40+ firms that utilize its technology in the supply chain and other sectors.

According to VeChain price prediction, the market appears to be optimistic, and it may reach around $0.056 for 2022. The potential price of VeChain's coin will bull to $0.05 in short term giving interesting return by year end.

According to the VeChain Price Prediction model above, VET's price in September 2030 would be $1.45.

VeThor Token's price today is US$0.001172, with a 24-hour trading volume of $1.37 M. VTHO is +1.50% in the last 24 hours. It is currently -1.84% from its 7-day all-time high of $0.001194, and 13.13% from its 7-day all-time low of $0.001036. VTHO has a circulating supply of 58.46 B VTHO.

As per our VTHO Coin price prediction, it can reach a maximum price level of $0.0046 by 2023. However, the average price of VTHO Coin can be around $0.0034 if current growth continues. And if there is any bearish trend the minimum price of a VTHO Coin can be down up to $0.0021.

Dogecoin (DOGE) user rating is 4.7, based on 7 user reviews. VeChain (VET) user rating is 5.0, based on 5 user reviews.

For holding VET, you receive dividends, approximate ROI is 2.2%. Every 10 seconds (when a new block is created) you automatically receive VTHO on your address. All you need to do is just hold funds on your account.

Is staking vet worth it? ›

Staking VET is an excellent way to earn rewards and support the VeChain network. It's also a perfect way to store your VET tokens long-term, as you earn rewards while holding them.

The VeThor (VTHO) calculator allows you to calculate the ROI on your VET holdings based on staking rewards. X-Node holders receive a bonus VeThor (VTHO) generation from a dedicated reward pool held by the VeChain Foundation, this bonus is calculated with live X-Node data.

The chart analysis of the VTHO token shows the cryptocurrency will record minimal price declines in 2022 and begin to regain in 2023. The bullish predictions place VTHO as one of the lucrative cryptocurrencies to invest in for the long term.

Over the last 30 days, VeThor Token had 20/30 (67%) green days. According to our historical data, it is currently profitable to invest in VeThor Token. The price of VeThor Token decreased by -69.09% in the last 1 year, while the coin's 3-year performance is 97.18%.

VeChain is a blockchain platform that focuses on logistics needs and supply chains. The VeChain token is run by the VeChainThor blockchain, which is the public blockchain behind VeChain. However, the blockchain also has another cryptocurrency, respectively the VeThor token or VTHO.

VeChain is a cryptocurrency and smart contracts platform focused on supply chain management. It allows manufacturers to add sensors, such as RFID tags, to their products that can then record data onto the VeChain blockchain.

What Is VeChain? VeChain is a blockchain platform designed to enhance supply chain management and business processes. Its goal is to streamline these processes and information flow for complex supply chains through the use of distributed ledger technology (DLT).

VeChain was co-founded in 2015 by Sunny Lu, former chief information officer of Louis Vuitton China, and Jay Zhang. The VeChain team initially distributed its cryptocurrency, VEN, on the Ethereum blockchain in 2017 as part of a crowdsale that sold 1 billion tokens and raised $20 million.

VeChain Tech seeks to provide blockchain-based solutions for real-world business needs. Before its recent partnership with Laava, VeChain Tech had established partnerships with some of the other leading businesses such as Walmart China, Bayer China, BMW Group, BYD Auto, PICC, Shanghai Gas, LVMH, D.I.G, ASI Group.

Initially they launched the cryptocurrency VEN on the Ethereum blockchain, raising $20 million as part of a token crowdsale. VEN was later replaced by VET at a 1:1000 ratio when VeChain launched its own blockchain, the VeChainThor blockchain.

Why is VeChain a good crypto? ›

VeChain facilitates the creation of rare smart contracts and DApps. The firm offers to purchase, stake, and selling of its token on the marketplace. Moreover, it allows the transfer of monetary value throughout the globe at a very low cost.

Sunny Lu, who previously served as Louis Vuitton China's chief information officer (CIO), founded VeChain in 2015. It was initiated as a subsidiary of Bitse, one of China's major blockchain companies, and is one of the few blockchains with a substantial client base among established companies.

If this trend persists, VeChain might easily reach $1 within the next few years or even more. Anything might happen in the cryptocurrency market, so this is by no means a guarantee. However, VeChain appears to be positioned for long-term growth, and $1 seems like a reachable goal in the foreseeable future.

VeChain is not currently supported across Coinbase's vast ecosystem. There are still ways you can find a way to buy VeChain.

VeUSD is a U.S. dollar-pegged stablecoin, fully backed and redeemable for USD at a 1:1 ratio. The collateral USD for VeUSD is held in a trust account managed by Prime Trust, a financial infrastructure company for fintech apps. The VeUSD stablecoin was launched in May 2022.

VeChain has a volatility of 4.21 and is 2.94 times more volatile than DOW. 36 of all equities and portfolios are less risky than VeChain.