Venus Hits 1-Day Trading Volume of $3.97 Million (XVS)

Venus (XVS) traded 2.7% higher against the U.S. dollar during the twenty-four hour period ending at 12:00 PM E.T. on August 6th. In the last week, Venus has traded 6.5% lower against the U.S. dollar. Venus has a market capitalization of $81.71 million and $3.97 million worth of Venus was traded on exchanges in the last day. One Venus coin can now be purchased for about $6.71 or 0.00028912 BTC on popular exchanges.

Here is how similar cryptocurrencies have performed in the last day:

  • Unitech (UTC) traded down 5.3% against the dollar and now trades at $0.95 or 0.00004552 BTC.
  • Wrapped Bitcoin (WBTC) traded up 0.8% against the dollar and now trades at $23,199.12 or 0.99900551 BTC.
  • Cosmos (ATOM) traded 0.9% higher against the dollar and now trades at $10.79 or 0.00046479 BTC.
  • dForce USD (USX) traded down 0.3% against the dollar and now trades at $0.99 or 0.00004329 BTC.
  • Function X (FX) traded 1.3% higher against the dollar and now trades at $0.30 or 0.00001292 BTC.
  • Creditcoin (CTC) traded 1.1% higher against the dollar and now trades at $0.41 or 0.00001772 BTC.
  • YES WORLD (YES) traded down 12.4% against the dollar and now trades at $0.0115 or 0.00000049 BTC.
  • mStable USD (MUSD) traded 0.5% lower against the dollar and now trades at $1.00 or 0.00004285 BTC.
  • Phantasma (SOUL) traded 0.6% higher against the dollar and now trades at $0.34 or 0.00001465 BTC.
  • Tranchess (CHESS) traded 0.9% higher against the dollar and now trades at $0.40 or 0.00001701 BTC.

Venus Profile

XVS is a PoW/PoS coin that uses the Scrypt hashing algorithm. It was first traded on April 5th, 2017. Venus’ total supply is 29,745,110 coins and its circulating supply is 12,170,524 coins. Venus’ official Twitter account is @VsyncCrypto and its Facebook page is accessible here. The official message board for Venus is medium.com/venusprotocol. Venus’ official website is venus.io.

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 buy alternative cryptocurrencies such as Venus directly using US dollars. Investors seeking to acquire Venus should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Venus using one of the aforementioned exchanges.

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