$0.006959

VeChain was established in 2015 by Sunny Lu to create a blockchain dedicated to supply chain solutions. The initial version, launched in June 2016, was a private consortium chain developed with BitSE, a Chinese blockchain service firm, focusing on anti-counterfeiting and supply chain management using NFC chips, RFID tags, and QR codes. Early financial backing came from Fenbushi Capital, a pioneer in Chinese blockchain investments. In 2017, an initial coin offering raised about $20 million by selling VEN tokens, the original ERC-20 asset. These funds supported the development of VeChainThor, its own Layer-1 blockchain, which went live in 2018. Later, DNV, a European assurance company, bought a stake and incorporated VeChain's technology into its services. The project's growth relied on enterprise partnerships rather than further venture funding.

VET has a fixed maximum supply of 86,712,634,466 tokens. The total supply of VTHO, however, is not fixed and depends on its generation and burn rates. As of July 7, 2025, data from VeChainStats indicates that all VET tokens are already in circulation.

VeBetter uses two main tokens: B3TR, which rewards users for sustainable actions, and VOT3, which provides governance voting power on the platform. The recent launch of the Stella Pay Visa Card allows users to spend their rewards at over 130 million merchants globally. Additionally, two applications, Mugshot and GreenCart, have each surpassed one million users, showing the ecosystem's growing adoption.

VET is available for trading on numerous major exchanges, and VTHO also has its own markets. Prominent platforms like Binance and Huobi Global have offered VET trading pairs with cryptocurrencies, stablecoins, and fiat currencies. For newcomers to cryptocurrency, there are guides available on how to purchase Bitcoin or other digital assets.