Venus (XVS) can be defined as an algorithmic money market and a specially launched protocol on BNB. This protocol provides its users with an easy-to-use cryptocurrency loan or lending service platform. Thus, users can access the loans they want quickly and safely.
What is Venus?
The number of users in the decentralized finance (DeFi) ecosystem continues to rise with great stability every day. Cryptocurrencies, which promise financial freedom to their users, have no difficulty in finding new participants in the market. We can say that certain needs arise in such a beautifully growing ecosystem. We witness that users want to benefit from loan services in order to manage their investments. Realizing this situation, the Venus team created the Venus platform in order to contribute to the ecosystem and create new values. With the help of the crypto money XVS tokens used on the platform, crypto lovers will be able to access the loan they want quickly and safely.
The DeFi ecosystem manages to maintain the momentum it has captured and brings new users together with financial opportunities. In order to meet the rising demand of users, developers and entrepreneurs come up with new projects every day. Venus is among these initiatives, but it attracts attention with the opportunities it offers to crypto lovers. The Venus platform, which serves its users as a decentralized platform created to take out loans or lend money, also hosts a fixed-price cryptocurrency: VAI. It is possible for users to withdraw or lend money through cryptocurrencies supported by the Venus platform. Moreover, the platform provides these services effectively with its fast, secure and user-friendly interface.
When Was Venus (XVS) Launched?
The team of the Swipe project of the Venus (XVS) platform developed. The Venus project, launched on Binance Smart Chain (BSC), met with its users on September 29, 2020. Binance, one of the largest cryptocurrency trading platforms in the world, does not want to be referred to as just an exchange and contributes to the ecosystem with various projects. LaunchPool, where the initial exchange offering (IEO) activities were carried out, was among these projects. Here, XVS, the token of the Venus platform, was presented to users by Binan. New tokens can be produced through mining activities. In the token sale, 20% of the total XVS was allocated to investors. According to the data shared by the Binance exchange on the relevant website, 79% of the total XVS supply will be mined. The remaining 1% tokens were sent to the Binance Smart Chain ecosystem. You can access detailed data on token distribution on the Binance website.
What is Venus (XVS) Price?
The prices of cryptocurrencies are determined by the market supply and demand balances. Supply refers to the total amount of cryptocurrency and the amount in circulation. Demand refers to the number of individuals and institutions willing to buy and sell cryptocurrencies. If demand is high and supply is low, the price of the cryptocurrency will rise. Likewise, if demand is low and supply is high, the price of the cryptocurrency will fall.
There are also many factors that affect the prices of cryptocurrencies. For example, factors such as government statements regarding cryptocurrencies, legislative changes, large investors’ trading, suitability for intended use, reliability, speed and cost can also affect prices.
As a result, the prices of cryptocurrencies can change constantly and investors need to be careful as they have high volatility.
Venus Coin current price:
Venus (XVS)
What is XVS Coin ATH Level?
The terms ATH (All Time High) and ATL (All Time Low) are terms used for the price movements of cryptocurrencies. ATH refers to the highest price of a cryptocurrency in history. This is when the current market value of that coin is at its highest. For example, the price at which Bitcoin reached $20,000 in 2017 is considered the ATH of that time.
XVS Coin’s highest ATH level was recorded at 146.82 USD on May 10, 2021.
What is the XVS Coin ATL Level?
ATL refers to the lowest price of a cryptocurrency in history. This is when the current market value of that coin is at its lowest. For example, the price that Bitcoin dropped to $3,000 in 2018 is considered the ATL of that time. Also, ATH and ATL can be used to show the volatility of cryptocurrencies. For example, if the difference between ATH and ATL of a coin is wide, that coin has higher volatility. Therefore, the difference between ATH and ATL can be a useful indicator for predicting future price movements of cryptocurrencies.
XVS Coin lowest ATL level is 1.65 USD on October 6, 2020.
How Does Venus Work?
To better understand how the Venus (XVS) platform works, let’s talk about the process itself, along with a few technical facts. Users will have access to the Venus loan platform and will be able to receive loans based on cryptocurrencies or deposit their investments in the platform in this way to be allocated to other users. This is how we can summarize the working purpose of the platform. Venus network, which has a user-friendly interface, allows the loan amount to be calculated without any difficulty. Accordingly, users can withdraw loans according to the collateral they offer to the platform. Moreover, users can deposit other cryptocurrencies supported on the platform to their accounts, show this as collateral and withdraw loans with other cryptocurrencies they wish. The platform has a transparent structure, just as befits the nature of blockchain technology. It should also be noted that all these transactions are offered to users for very low fees and without intermediaries.
Another component that users encounter on the Venus platform is a fixed-price cryptocurrency called VAI. While XVS tokens are used for the management of the ecosystem, VAI tokens can be preferred by users. It should be noted that XVS token holders can participate in voting activities related to the network. This is what the use of XVS tokens for administration means.
The Venus platform is not the only example in the market to offer loans backed by cryptocurrencies. However, it differs from its competitors in terms of some unique features it has. Venus offers its users very fast loan services with low transaction fees and extra collateral. In other words, the Venus platform can be flexible in the loan rates determined by the users according to the collateral offered. We can say that the platform owes its transaction speed to the Binance Smart Chain on which it is built.
How and Where to Buy XVS Coins?
XVS tokens, the cryptocurrency of decentralized cryptocurrency lending platform Venus, are available on many platforms. At the forefront of these platforms is Binance, the organization that launched the platform. In addition, other platforms such as Bithumb, Gate.io, PancakeSwap or WazirX also offer XVS transactions to their users. On the Binance exchange, the trading pairs offered to users with XVS were created with USDT, BUSD, BNB and BTC. Accordingly, it is possible for Binance users to own XVS tokens by using any of these cryptocurrencies. As it is known, the crypto money market brings with it certain risks. That’s why crypto lovers need to trade very carefully and in reliable ways.
Which Exchanges Is Venus On?
Cryptocurrency exchanges allow users to securely store and exchange cryptocurrencies. Exchanges may have different transaction fees and limits, so it is important for users to be careful when choosing an exchange.
Exchanges where XVS Coin is included are:
- Binance
- KuCoin
- bithumb
- PancakeSwap
- Gate.io
- MEXC
- Phemex
- biswap
- CoinEx
- BitTurk
- hotbit
