Venus (XVS) traded up 3.4% against the dollar during the 1-day period ending at 16:00 PM E.T. on May 12th. Venus has a total market capitalization of $45.43 million and approximately $23.90 million worth of Venus was traded on exchanges in the last day. In the last seven days, Venus has traded 50.5% lower against the dollar. One Venus coin can now be bought for about $3.73 or 0.00013086 BTC on cryptocurrency exchanges.
Here’s how other cryptocurrencies have performed in the last day:
- Wrapped Bitcoin (WBTC) traded 2.2% lower against the dollar and now trades at $28,518.69 or 0.99985588 BTC.
- Cosmos (ATOM) traded 10.3% lower against the dollar and now trades at $9.46 or 0.00033183 BTC.
- Techpay Coin (TPC) traded 6.8% lower against the dollar and now trades at $0.28 or 0.00000983 BTC.
- Function X (FX) traded 20.5% lower against the dollar and now trades at $0.22 or 0.00000781 BTC.
- Creditcoin (CTC) traded 10.6% lower against the dollar and now trades at $0.40 or 0.00001405 BTC.
- Nestree (EGG) traded down 1.7% against the dollar and now trades at $0.0184 or 0.00000065 BTC.
- mStable USD (MUSD) traded 0.8% lower against the dollar and now trades at $1.00 or 0.00003496 BTC.
- Redd (RDD) traded flat against the dollar and now trades at $0.0011 or 0.00000008 BTC.
- Phantasma (SOUL) traded 7.8% lower against the dollar and now trades at $0.24 or 0.00000830 BTC.
- Tranchess (CHESS) traded 8.6% lower against the dollar and now trades at $0.23 or 0.00000790 BTC.
Venus Coin Profile
According to CryptoCompare, “Venus Protocol (“Venus”) is an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto Binance Smart Chain. Venus enables users to utilize their cryptocurrencies by supplying collateral to the network that may be borrowed by pledging over-collateralized cryptocurrencies. This creates a secure lending environment where the lender receives a compounded interest rate annually (APY) paid per block, while the borrower pays interest on the cryptocurrency borrowed. These interest rates are set by the protocol in a curve yield, where the rates are automated based on the demand of the specific market, such as Bitcoin. “
Buying and Selling Venus
It is usually not presently possible to purchase alternative cryptocurrencies such as Venus directly using U.S. dollars. Investors seeking to trade Venus should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Venus using one of the aforementioned exchanges.
Receive News & Updates for Venus Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Venus and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.