VeChain ranks #38 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #102: 64 of the 101 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 89 non-native assets CoinSpectrum lists above it by market cap, about 56% are claims on other assets, 39% are tokens and 4% are memecoins.
| CoinSpectrum Grade | C · 53/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #38 |
| Rank counting claims | #102 |
| Market capitalisation | $542M |
| Price | $0.00630 |
| 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 28 October 2026 build. Open the live view for every exchange's price, and charts.
C — 53 out of 100, provisional (from 19 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 50 to 56 (D to C).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 7.3 | group average |
| Consensus: leader ladder | 7.3 | Proof of authority: 7.3 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 7.3 | Proof of authority: 7.3 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 4.1 | group average, 12 of 13 measured |
| Sound Money Qualities (6 checks) | 7.4 | 3.7 of 5 points, 1 not yet measured source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 7.4 | fixed maximum supply of 86.7 billion: supply scale 4.8, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✓ | 8 full years since its first recorded price, no halt, freeze or reversal in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | ✗ | an authority can freeze funds: After the December 2019 Foundation wallet theft, the Foundation had block producers blacklist the thief's addresses. |
| Divisibility: the smallest unit worth a cent or less | ✓ | 18 decimal places, the smallest unit worth $6.3e-21 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $0.00013; about 190 transactions a second (5.8 on the throughput scale; 5 is the busiest networks' median demand) |
| Verifiability: open-source nodes and checking without a trusted server | – | node software open source |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Any secp256k1 key can hold and send VET; the chain's account and transfer rules carry no identity check. |
| UTXO ledger: a new key for each payment, no account linking every coin | ✗ | |
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | thor relays transactions directly. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | No confidential transactions. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | No sender or receiver hiding. |
| Scalability (fees, throughput, block time, block space, features) | 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; 119, the median of the ten busiest, 5) | 5.8 | 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 (32 MB or more 10) | 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 |
| Payments safe to accept within seconds | ✗ | Ten-second blocks with finality after further blocks; no instant-lock mechanism. |
| Pruned nodes: a full node can validate and drop old history | – | thor runs a state pruner by default (-disable-pruner to turn off); whether old blocks are dropped is not documented. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | No light-client protocol; wallets trust RPC servers. |
| Security (miner pay and 7 checks) | 5 | 5 of 9 points source |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 0 | not mined |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✗ | not mined |
| Largest pool or validator under 50% | ✓ | 5.27% |
| Largest three under 75% | ✓ | 13.53% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | Thor, the only node implementation, is developed in the VeChain Foundation's repository. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 26,064 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 7.8 | 7 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 2 | VIP-180 (ERC-20 compatible) contracts on the VeChainThor EVM, open to any account. |
| Smart contracts: a general-purpose contract system | 2 | VeChainThor's EVM-compatible contracts, open to any account. |
| Multisig and time locks | ✓ | Multisig and timelock contracts on the EVM. |
| Atomic swaps with other chains | ✓ | EVM HTLC contracts (hash lock plus timelock refund). |
| An exchange built into the protocol | ✗ | No exchange in the protocol (multi-clause and fee delegation are its native transaction features). |
| Cross-chain messaging the chain verifies itself | ✗ | No protocol messaging to other chains. |
| Non-fungible tokens | ✓ | ERC-721 (VIP-181) contracts on the EVM. |
| Decentralisation | 3 | section average, 7 of 8 measured |
| Censorship resistant (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) | 4.3 | Proof of authority: 4.3 of 10 on the ladder of who produces blocks |
| Nodes (Source) | 6.7 | 101 reachable nodes source |
| Holder concentration (Source) | — | 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 | 0 | Sold by its issuer or insiders: 100% of supply was theirs to sell, 57.7% sold so far. 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 |
| Supply & Demand | 5.9 | group average |
| Supply & Demand (Source) | 7.1 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 39 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 5.5 | $3,305,788 traded in 24 hours; #224 by volume on the exchanges the site reads (scored on the median day of the last 30, $5,840,106) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 5.9 | 0.84% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 6.2 | $388,569 within 2% of the price on 8 exchanges, 0.07% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 6.8 | $542M, 6.8 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8 | futures, options and margin positions 4.0% of its market cap |
| Supply (smaller is better) | 4.8 | fixed maximum supply of 86.7 billion |
| Record | 8.3 | group average |
| Record (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 | ✓ | |
| 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, improvements, unfixed issues) | 7 | 2 positive, 0 negative, 2 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 663 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 | – | |
Twenty criteria, weighted equally. The Cryptocurrency Standards have six sections: sound money qualities (six checks: scarcity, durability, fungibility, divisibility, portability, verifiability), privacy (five checks), scalability (four measures and three features), security (miner pay and seven checks), programmability (token issuance, smart contracts and five checks) and decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share). Provisional: criteria 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.
85,985,041,177 of a maximum 86,712,634,466 VET are in circulation — 99.2% of the total that will ever exist.
| 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.
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.
VeChain is #38 among cryptocurrencies and #102 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 64 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).