VeChain is a blockchain protocol formulated to improve supply chain administration and business methods. Its objective is to facilitate these processes and data flow for complex supply chains through the design of distributed ledger technology (DLT).

The Vechain platform has two tokens: VeChain Token (VET) and VeChainThor Energy (VTHO). VET is used to transport value across VeChain’s network. And the VTHO is used as fuel or gas to leverage transactions.

VeChain was established in 2015 by Sunny Lu, the former CIO of Louis Vuitton China. He incorporated his creativity in luxury goods with blockchain technology to build an IoT (Internet of Things) application for supply chain management. He remains the CEO of VeChain through a non-profit called the VeChain Foundation.

VeChain (VET) Price Today
Diving into the price of VeChain today, one can easily notice how cryptocurrency has made success over the years.

With the future showing great possibilities, VeChain currently changes hands at $0.0043. This figure, however, represents about a 26% loss from its year-high price of $0.0058 recorded on the 29th of January.

In the last 24 hours, the price of VET sinks by a mere 0.5%. As the bulls and bears seem to be in a very tight tug-of-war. The coin maintains its market capitalization at $242.97 million as $158.05 million was traded in volume over the last 24 hours.