VeChain (VET)
VeChain ranks #39 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #112: 73 of the 111 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 99 non-native assets CoinSpectrum lists above it by market cap, about 57% are claims on other assets, 37% are tokens, 5% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | B · 61/100 · provisional, B to A |
|---|---|
| Rank among cryptocurrencies | #39 |
| Rank counting claims | #112 |
| Market capitalisation | $444M |
| Price | $0.00516 |
| Circulating supply | 85,985,041,177 VET |
| Maximum supply | 86,712,634,466 VET |
| Consensus family | Proof of Authority |
| Consensus mechanism | Proof of Authority (PoA 2.0) |
| Network purpose | DePIN |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
B — 61 out of 100, provisional (from 10 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 58 to 64 (B to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 7.3 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 7.3 | Proof of authority: 7.3 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 7.3 | Proof of authority: 7.3 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 6.2 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 5.8 | fixed maximum supply of 86.7 billion |
| Distribution | 4.7 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 0 | 100% of today's supply allocated at launch to founders, a company, a foundation or investors. All 86,712,634,466 VET were created at VeChainThor genesis (2018) by converting 1B VEN at 1:100; supply is fixed and never mined (VTHO is the generated gas token). source |
| Fundraising (share sold) (Source) | 4.2 | Sold by its issuer or insiders: 57.7% of supply sold. The Aug-Sep 2017 VEN sale sold 9% (private) + 41% (public) of the 1B VEN = 500M VEN, swapped 1:100 into 50B VET at the 2018 mainnet migration. 50B / 86,712,634,466 VET fixed supply = 57.7%. A further 23% labelled 'enterprise investors' (commercial plan) in the VEN contract is not counted, because no evidence was found that it was paid for; if it was, the figure would be 84.2%. 2017 VEN sale: 9% to a private sale for early investors and 41% in a public ICO (Aug 18-31, 2017 at 0.00028571 ETH); reported proceeds $20-22M (sources conflict). source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No VET issuance: the 86.7B VET supply is fixed. VTHO is generated to VET holders, and VTHO fees are partly burned and partly paid to block producers, so no developer or treasury cut exists. source |
| Decentralisation | 2.2 | average of 4 parts |
| Governance (Source) | 0 | An authority can halt the chain or freeze funds: After the December 2019 Foundation wallet theft, the Foundation had block producers blacklist the thief's addresses. source |
| No central team (Source) | 0 | A central team directs it: Thor, the only node implementation, is developed in the VeChain Foundation's repository. source |
| Who can mint (Source) | 2 | Gated by registration: producers admitted by name, licence or company registration: an allow list, federation, council or proof of authority |
| Nodes (Source) | 6.7 | 101 reachable nodes source |
| Security | 7.5 | 6 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 10 | largest 5.27%, largest three 13.53% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 6.1 | about 26,064 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 1 | not mined: another consensus, 1 |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 7 | one client, latest version Sep 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | 5.9 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00013 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 5.7 | about 190 simple transactions a second |
| Block time (10 minutes 10, less either side) | 3.6 | a block every 10 seconds |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | 10 | 0.588 MB limit (converted from its gas, compute, mass or count limit), 35.3 MB per 10 minutes |
| Features (3 checks) | 0 | 0 of 2 passed, 1 not yet researched |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✗ | Ten-second blocks with finality after further blocks; no instant-lock mechanism. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | – | thor runs a state pruner by default (-disable-pruner to turn off); whether old blocks are dropped is not documented. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No light-client protocol; wallets trust RPC servers. |
| Privacy | 3.5 | 3.5 of 10: whitepaper privacy 3.5 of 7, extra features 0 of 3, 1 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Any secp256k1 key can hold and send VET; the chain's account and transfer rules carry no identity check. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 0 | An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | No confidential transactions. |
| Hidden parties (Sender and receiver hidden) | 0 | No sender or receiver hiding. |
| Network privacy (Origin hidden by default) | 0 | thor relays transactions directly. |
| Programmability | 8.9 | 8 of 9 points source |
| Token issuance (At protocol level) | 2 | VIP-180 (ERC-20 compatible) contracts on the VeChainThor EVM, open to any account. |
| Smart contracts (General-purpose) | 2 | VeChainThor's EVM-compatible contracts, open to any account. |
| Multisig and time locks (Without a third party) | ✓ | Multisig and timelock contracts on the EVM. |
| Atomic swaps (With other chains) | ✓ | EVM HTLC contracts (hash lock plus timelock refund). |
| Native DEX (Trades the coin itself, not a claim) | ✓ | Traded as itself, not as a wrapped token or a claim: its own chain's DEXes (VeChain, DefiLlama). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | No protocol messaging to other chains. |
| NFTs (Carried by the chain's rules) | ✓ | ERC-721 (VIP-181) contracts on the EVM. |
| Demand | 6.1 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 39 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 5.3 | $2,925,454 traded in 24 hours; #233 by volume on the exchanges the site reads (scored on the median day of the last 30, $4,350,352) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 5.7 | 0.79% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 6 | $286,381 within 2% of the price on 8 exchanges, 0.06% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 6.6 | $444M, 6.6 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 7.9 | futures, options and margin positions 4.5% of its market cap |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | 8.3 | average of 3 criteria |
| Age (years since genesis) (Source) | 8 | 8 full years since 2018-07-24, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 7 | 2 positive, 0 negative, 2 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 589 commits in 12 of the last 12 months (github.com/vechain/thor); VeChainThor v2.5.0 'Interstellar', released 2026-09-03. |
| Shipped a new capability for users in two years, +1 | ✓ | Galactica, mid-2025: EVM-compatibility upgrade; Hayabusa, 2 Dec 2025: open delegated staking for VET. |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
| Shipped a scaling upgrade in two years | – | |
| Conduct (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Proof of Authority coins
Bittensor TAOA
Ozone Chain OZOB
Paycoin PCI
Electroneum ETNA
AMO Coin AMOC
DucatusX DUCXC
BlackFort Exchange Network BXNAll Proof of Authority chains →Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Monero XMRA+
Bitcoin Cash BCHA++
Litecoin LTCA+
Ethereum Classic ETCAAll Proof of Work chains →Supply
85,985,041,177 of a maximum 86,712,634,466 VET are in circulation — 99.2% of the total that will ever exist.
Launch and allocation
| Premine (allocated at launch) | 100% of today's supply |
|---|---|
| Sold by the issuer or insiders | 57.7% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Nodes or validators | 101 |
| Fundraising | Private or venture funding |
All 86,712,634,466 VET were created at VeChainThor genesis (2018) by converting 1B VEN at 1:100; supply is fixed and never mined (VTHO is the generated gas token).
2017 VEN sale: 9% to a private sale for early investors and 41% in a public ICO (Aug 18-31, 2017 at 0.00028571 ETH); reported proceeds $20-22M (sources conflict).
The Aug-Sep 2017 VEN sale sold 9% (private) + 41% (public) of the 1B VEN = 500M VEN, swapped 1:100 into 50B VET at the 2018 mainnet migration. 50B / 86,712,634,466 VET fixed supply = 57.7%. A further 23% labelled 'enterprise investors' (commercial plan) in the VEN contract is not counted, because no evidence was found that it was paid for; if it was, the figure would be 84.2%.
No VET issuance: the 86.7B VET supply is fixed. VTHO is generated to VET holders, and VTHO fees are partly burned and partly paid to block producers, so no developer or treasury cut exists.
Sources: blog.51cto.com · altfins.com · coinbase.com · docs.vechain.org · docs.vechain.org · forklog.com. Researched 2026-10-24, medium confidence.
What a regulator has said
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks VeChain
VeChain is #39 among cryptocurrencies and #112 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 73 places between VeChain's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).