Venus (XVS) Overview:
Venus is a decentralized, algorithmic money market and synthetic stablecoin protocol built on Binance's BNB Chain. It enables users to supply collateral to borrow tokens and mint synthetic assets backed by a basket of cryptocurrencies. The native token, XVS, is utilized for governance, allowing holders to propose and vote on platform decisions.
Market Performance:
Price: $6.22 USD
24-Hour Change: Increased by $0.74 (approximately 13.50%)
Intraday High / Low: $6.26 / $5.34 USD
Market Capitalization and Supply:
Market Cap: Approximately $102.19 million USD
Circulating Supply: 17 million XVS tokens
Maximum Supply: 30 million XVS tokens
Recent Developments:
Venus has been approaching a significant support zone around $3.50–$4.50, historically acting as a strong accumulation area. This level aligns with previous lows and may indicate a potential reversal in the ongoing correction. The Relative Strength Index (RSI) remains near oversold conditions, reinforcing the likelihood of a reversal from this key demand zone.
Trading Platforms:
XVS tokens are actively traded on various cryptocurrency exchanges, including:
Binance: Offers XVS trading pairs with significant liquidity.
Coinbase Pro: Provides XVS/USD trading options.
Kraken: Supports XVS trading with real-time price updates.