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.
XVS went on the market in October 2020, initially at a moderate price, about US$2.5-3.5. As interest in DeFi regained momentum, prices are also rising, rising to over $8 in January 2021. By February, the price soared, soaring to $98. Later, in the early spring, some changes in the agreement and asset withdrawal rate caused some concerns, when the price fell to around $40. It recovered in May and reached $147.02 on May 10, but climbed in the next few days.
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.
Although it is almost impossible to perform 100% accurate technical analysis of the Venus cryptocurrency, on this advanced technical analysis tool of TradingView, you can view the real-time aggregated XVS trading ratings within the selected time frame. The summary of XVS/USD is based on the most popular technical indicators — moving averages, oscillators and pivots.
Below we have collected the most reliable price predictions for Venus (XVS) from popular prediction platforms.
According to WalletInvestor, the price of Venus will rise from $17.92 to $88.986 within one year. This makes XVS a great investment. The long-term profit potential is 396.57%. The forecast price at the end of 2026 is US$362.263.
When answering the question about whether Venus is a good investment, TradingBeasts responded in the affirmative. From the perspective of 2021, the price of the token is expected to reach US$31.176 and increase to US$51.714 by the end of 2022.
In the DigitalCoin analysis, the price of the Venus cryptocurrency will rise from today’s $18.325 to $82.4046236 in the next 5 years. It will rise to US$30.5563738 by 2022 and continue to grow in 2023-2024. Based on this prediction, Venus is a profitable long-term investment.
It is clear from the analysis cited above that the forecast of Venus (XVS) is quite contradictory. There is no general consensus on the positive or negative trend of XVS prices in the future. In fact, the possible future growth depends on various factors: announcements, new technical solutions for the Venus project, general encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.
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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