Venus price forecast.Fundamental Analysis of Venus | Via SwapSpace | Capital | July 2021
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. 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 promotes true 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 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 18 to 19, 2021, XVS experienced a sharp spike in price, followed by a massive sell-off. When the price fell below $40 in the first few days after the event, the liquidation caused a sharp drop, and it gradually fell to about $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 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, overall 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.
SwapSpace is a cryptocurrency exchange aggregator that allows the exchange of more than 450 cryptocurrencies at fixed and floating interest rates. We collect the exchange rates of the major cryptocurrency exchanges in the market on the screen, allowing our users to compare and choose any option they like best. We will not add any fees to our partners’ rates, which makes transactions through SwapSpace profitable. The exchange time does not exceed 10 minutes from any of our comprehensive services. SwapSpace supports 24/7 work.
Passionate about crypto and want more news and price predictions every day?Join Exchange space blog!