Venus Price Prediction: Is Venus a Good Investment? – Spaxton School

Venus Price Prediction: Is Venus a Good Investment?

Latest Venus Price

MetricLast 24 HoursTrend
Net Social Media Sentiment0.0%Steady

Venus Protocol Performance So Far

Last 7 Days-4.0%
Last 1 Month+10.3%
Last 12 Months+7.6%
Since Launch (2020)+94.7%

Exchange Dominance – Binance: 49%

Venus Price Prediction Today, Tomorrow and Week

UTC: Mar 1st, 2024 12:04 PM

  • Venus Price Prediction in the next 24 hours is between $12.5 and $13.1
  • Venus Price Prediction this week is between $12.1 and $13.4

UTC: Mar 1st, 2024 02:43 PM

Overall OutlookBullish
1. Market’s WisdomBullish
1a. Market DataPartially Bullish
1b. Technical RecommendationBuy
2. Crowd’s WisdomPartially Bullish
2a. Social Media BuzzHigher
2b. Social Media SentimentSteady

Venus Price Prediction 2023, 2025 and 2030, Aggregated

  • Venus Price Prediction 2023 is $12.7
  • Venus Price Prediction 2025 is $20.1
  • Venus Price Prediction 2030 is $67.0

Latest Venus Protocol News

DeFi TVL: $553M, 7d: -6.7%, 30d: -12.7%, Annualized Revenue: $16.0M

The security audit of Venus Prime identified multiple issues across varying levels of severity. The audit covered contracts like Comptroller, Tokens, and XVSVault within the VenusProtocol/venus-protocol repository. The system is designed to distribute rewards based on calculated scores derived from users’ staking activities and balances in the Venus lending protocol.

One critical issue found could make the rewards pool insolvent due to discrepancies in the rewards accounting; however, this was resolved. Medium and low-severity issues ranged from mismatched documentation to unsafe typecasting, and most were resolved by the time of the audit report. Privileged roles and adjustable parameters were also examined, with minimal modifications noted.

Venus Price Prediction: Is Venus a Good Investment?

The Venus Protocol is a complete algorithmic money market system designed for the Binance Smart Chain. It was built upon the foundations of both Compound and MarkerDAO. Venus aims to provide solutions to problems found in traditional lending and other protocols built on Ethereum.

The existing DeFi protocols built on Ethereum face issues such as high transaction costs, slow transaction speeds, and a lack of support for certain cryptocurrencies. Some protocols also have centralized control mechanisms and distribution plans, and lock up assets without any benefits to users.

The Venus Protocol aims to solve these problems by allowing anyone to use the Binance Smart Chain, which has lower transaction costs and higher speeds, to supply collateral, earn interest on that collateral, borrow against it, and mint stablecoins. It supports a variety of digital assets, including Bitcoin, XRP, Litecoin, and others, unlocking their value for lending markets.

It offers several key features/ use cases:

  1. Users can borrow cryptocurrencies and stablecoins directly on the protocol without undergoing a credit check. The borrowing process is fast, and loans are collateralized using over-collateralized assets.
  2. Users can supply cryptocurrencies and stablecoins to the Venus Protocol and earn a variable Annual Percentage Yield (APY) for providing liquidity. The supplied assets act as collateral and are pooled into smart contracts, ensuring security. Users receive vTokens representing their supplied collateral, which can be used for redemption or other purposes.
  3. They can mint synthetic stablecoins, such as VAI, using their supplied collateral. VAI is pegged to the value of $1 USD and can be used at over 60 million locations worldwide through the Swipe platform. This provides users with a stablecoin that can be utilized for various purposes.
  4. The Venus Token (VENUS) serves as the governance token of the Venus Protocol. It is designed to facilitate fair community distribution and enable token holders to participate in the governance process of the protocol.

The Venus Token (XVS) is the governance token of the Venus Protocol. It is designed to be a fair launch cryptocurrency without any allocations for founders, team members, or developers. XVS can only be earned through the Binance LaunchPool project or by providing liquidity to the protocol.

XVS distribution occurs through liquidity mining, with 35% of daily rewards going to borrowers, 35% to suppliers, and 30% to stablecoin miners.

The Venus Protocol also utilizes vTokens, which are pegged assets created when collateral is supplied. These vTokens represent the collateral and can be redeemed. Governance processes, voted by Venus Token holders, determine the creation and implementation of vTokens.

The protocol’s architecture is based on a modified codebase combining features from MakerDAO and Compound. Overall, the Venus Token serves as the governance mechanism for the Venus Protocol, enabling token holders to participate in decision-making processes.

Considering all the factors, the Venus Protocol appears to be a moderate case for investment.

NEAR Protocol Price Prediction 2023-2030

Where to Buy Venus tokens?

  • Binance
  • KuCoin
  • Bithumb
  • PancakeSwap

Also Read: Akash Network Price Prediction

~Charu Taneja

Note: tes Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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