Venus price forecast.Fundamental Analysis of Venus | Via SwapSpace | Capital | July 2021


Venus price prediction

Venus (XVS) is the BEP-20 governance token on the Venus network. It is a lending platform in the DeFi field. It was launched in 2020 by the team behind Binance’s Swipe. Venus aims to solve some of the current traditional problems of lending and similar encryption solutions:

  • The banking system has many conditions for borrowers, such as having to pass a credit check, even if their loan is fully secured
  • Many decentralized protocols run Ethereum, Which leads to slow processing speeds and high transaction fees
  • Some DeFi solutions, such as Compound They are also mainly managed by private funds, so they are not truly decentralized.

Venus allows anyone to borrow cryptocurrency from anywhere without checking credit history, provided they can provide collateral. In addition, users can use their collateral to provide liquidity, earn interest from it, or mint stablecoins from it for use in the general encryption space. Since Venus runs on Binance Smart Chain, the transaction speed is fast and the fees are low. The network is protected by a unique hybrid protocol-Proof of Stake (POSA).

The default synthetic stablecoin on Venus is VAI, which is pegged to the value of the U.S. dollar. XVS is used for governance, and because it is distributed through fair release, it contributes to truly decentralized decision-making.

From May 18th to 19th, 2021, XVS experienced a sharp increase in price and was subsequently sold on a large scale. When the price fell below US$40 in the first few days after the event, the liquidation caused a sharp drop, and it gradually fell to about US$18-20 in July. The project team has since made major changes to the leadership and proposed a recovery plan, but the future of the project—and the price of XVS—is still uncertain.

Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.

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