Venus (XVS) is a BEP-20 governance token on the Venus network, which is a lending and borrowing platform in the DeFi space, launched by the team behind Binance’s Swipe in 2020. Venus is designed to solve some of the current problems in traditional lending and similar crypto solutions:
- The banking system has a lot of conditions for a borrower, such as having to pass a credit check, even if their loan is fully collateralized
- Many decentralized protocols run on Ethereum, which leads to slow processing speeds and high transaction fees
- Some DeFi solutions such as Compound are also governed mostly by private funds, so they aren’t really decentralized.
Venus allows anyone to borrow cryptocurrencies from anywhere without checking credit history on the only condition that they can supply the collateral. Moreover, users can utilize their collateral to provide liquidity, earn interest on it, or mint stablecoins from it to use in the general crypto space. The transactions are fast and low-fee since Venus runs on Binance Smart Chain. The network is secured by a unique hybrid protocol — Proof-of-Staked Authority (POSA).
The default synthetic stablecoin on Venus is VAI, pegged to the value of the dollar. XVS is used for governance, and since it was distributed through fair launch, it facilitates truly decentralized decision-making.
XVS appeared on the market in October 2020, at modest levels of ~$2.5-$3.5 at first. As renewed interest in DeFi gained momentum, so did the price, which rose above $8 in January 2021. By February it took off, surging as high as $98. Later, in the early spring, some changes in protocol and asset withdrawal rates raised some concerns, at which point the price dropped to around $40. It recovered by May, reaching $147.02 on May 10, but climbing down over the next few days.
On May 18–19 2021, XVS experienced a sharp spike in price followed by massive sell-offs. The liquidation caused a huge dip when the price fell under $40 in the first days after the event and gradually trended down to ~$18-$20 by July. The project’s team made serious leadership changes in the aftermath and proposed a recovery plan, but the project’s — and XVS price — future is still uncertain.
Despite the fact that 100% accurate technical analysis for Venus cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated XVS buy-and-sell rating for selected timeframe. The summary for XVS/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for Venus (XVS) from popular forecast platforms.
According to WalletInvestor, Venus price will grow from $17.92 to $88.986 in one year. That makes XVS an awesome investment. The long-term earning potential is 396.57%. Predicted price for the end of 2026 is $362.263.
Answering the question about if Venus is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $31.176 with a growth to $51.714 by the end of 2022.
In DigitalCoin analysis, the price of Venus cryptocurrency will rise in the next 5 years starting from $18.325 as of today’s price to $82.4046236. It will go up to $30.5563738 by 2022 and continue its growth in 2023–2024. Based on this forecast, Venus is a profitable long-term investment.
As it can be clear from the analysis cited above, Venus (XVS) projections are rather contradictory. There is no universal consensus either about positive or negative future XVS price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Venus projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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