Venus Protocol Price Prediction 2024: Will Vai Stablecoin Help XVS Grow?
What's next for Venus Protocol?
Key Takeaways
- The Venus Protocol allows people to borrow crypto in the form of stablecoins.
- Can XVS turn things around and help spearhead a DeFi revival?
- One price prediction says it may reach $49.38 next year.
The Venus Protocol is a decentralized finance (DeFi) crypto lending platform with a twist. The network allows people to mint stablecoins based on the collateral they put in when they want to take out a loan.
The network’s XVS token has had a tough time over the last few years. The heights of May 2021, when it came very close to breaking past $150, seem a long way away.
There has been some good news for the platform, though, as it has enjoyed a solid few months of interest revenue growth, despite Binance – the exchange which hosts the blockchain Venus Protocol is based on – facing legal action from the United States Securities and Exchange Commission (SEC).
Venus Protocol launched a stablecoin, VAI . Can it boost also XVS?
Venus Protocol did not immediately respond to a request for comment.
But what is Venus Protocol (XVS)? How does Venus Protocol work? Let’s see what we can find out, and also take a look at some of the Venus Protocol Price Predictions that were being made as of February 29, 2024.
Venus Protocol Coin Price Prediction
With that all out of the way, let’s take a look at some of the Venus Protocol price predictions that were being made as of 20 July 2023. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $28.13 | $32.95 | $95.25 |
| Prediction #2 | $36.39 | $49.38 | $114.36 |
| Prediction #3 | $20.47 | $29.83 | $178.96 |
First, CoinCodex had a relatively optimistic short-term Venus Protocol price prediction. The site said that XVS would reach $14.27 by March 5 and hit $16.22 by March 30. The site’s technical analysis was bullish, with 24 indicators sending encouraging signals and six making bearish ones.
Venus Protocol Forecast for 2024
When it came to other Venus Protocol price predictions for 2024, DigitalCoinPrice said it would trade at $28.13 and Bitnation thought it would get to $36.39. PricePrediction.net , meanwhile, said it would reach $20.47 this year.
Venus Protocol Forecast for 2025
In terms of a Venus Protocol price prediction for 2025, Bitnation was out in the lead with a forecast of $49.38 while PricePrediction.net had it at $29.83. DigitalCoinPrice was somewhere between the two, saying XVS would trade at $32.95 next year.
Venus Protocol Forecast for 2030
Moving on to a more long-term Venus Protocol price prediction for 2030, PricePrediction.net thought it would get to $178.96 that year, while Bitnation thought it could reach $114.36. DigitalCoinPrice had an XVS price prediction which said the token would trade at $95.25 that year.
Google Gemini AI Price Prediction for Venus Protocol (as of February 29)
Google’s Gemini AI platform gave the following price prediction for Venus Protocol on February 29. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.
Short Term (Next 3 months)
- Expected price: $16.49
- Factors to Consider:
- Overall market sentiment: The broader cryptocurrency market significantly influences individual tokens like XVS. A bullish market generally leads to price increases, while a bearish one can trigger downtrends.
- Venus Protocol’s development and adoption: The success of the Venus Protocol itself, including its user base, transaction volume, and integrations with other platforms, can impact the value of XVS.
- Regulatory landscape: Regulatory decisions and uncertainties surrounding cryptocurrencies can create market fluctuations.
Medium Term (Next 6 months)
- Expected price: $21.75
- Factors to Consider:
- Overall market trends: If the broader cryptocurrency market experiences a bull run, XVS could potentially rise alongside other digital assets. Conversely, a bear market could lead to a decline in XVS price.
- Adoption and usage of Venus Protocol: Increased adoption and usage of the Venus Protocol for lending, borrowing, and other DeFi activities could positively impact the demand for XVS, potentially driving the price up.
- Developments and news: Any significant news or developments related to Venus Protocol, such as new partnerships, integrations, or regulatory updates, could affect the price positively or negatively.
Long Term (Next 5 years)
- Expected price: $26.25
- Factors to Consider:
- Overall performance of the DeFi market: If the Decentralized Finance (DeFi) market thrives, it could positively impact XVS, as Venus Protocol operates within that ecosystem.
- Adoption and usage of Venus Protocol: Increased adoption and usage of Venus Protocol for lending and borrowing could drive up the demand for XVS tokens, potentially leading to a price increase.
- Regulations and legal landscape: Regulatory decisions and the overall legal landscape surrounding cryptocurrency could significantly impact the price of XVS, both positively and negatively.
- Developments and upgrades to the Venus Protocol: The success of future developments and upgrades to the Venus Protocol platform could influence investor sentiment and, consequently, the price of XVS.
XVS Price History
Let’s now take a look at some of the Venus Protocol price history . While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting a Venus Protocol price prediction.
When XVS first came onto the market in late 2020, it was worth about $3. In early 2021, the crypto market exploded and XVS was able to get in on the action, surging to an all-time high of $147.02 on 10 May. After this, though, it drastically went down and it closed the year at $15.16, a fall of nearly 90% from its record price.
2022 was not much better. The collapse of the Terra (LUNC) blockchain saw Venus Protocol drop below $3.65 in May and further market crashes stymied any significant recovery. At the end of the day on 31 December, XVS was worth $3.84, an annual loss of nearly 75%.
Venus Protocol in 2023 and 2024
2023 has been a little more encouraging, but not much more encouraging, for XVS’ holders. The token rallied to trade at above $8 in April. However, it then fell, with a nadir coming on 10 June. Following that day’s news that Crypto.com was suspending its US institutional arm, XVS fell nearly 25% from $4.03 to $3.08.
Since then, there has been a slow, but steady, recovery and, on 20 July 2023, Venus Protocol was worth about $4.30. It then ended 2023 at $11.65 and moved up-and-down in the first two months of 2024, reaching $11.65 on February 29, 2024.
At that time, there were 15.7 million XVS in circulation, out of a total supply of 30.0 million. This gave the token a market cap of $203.6 million, making it the 284th largest crypto by that metric.
Is Venus Protocol a Good Investment?
It is difficult to tell. On the one hand, Venus Protocol operates in a crowded market which has never quite been the same since the Celsius crypto lending platform suspended withdrawals in June 2022.
Not only that, but the XVS token has not exactly been breaking through any significant barriers recently.
With the SEC mounting legal action against Binance – the exchange which hosts the blockchain Venus Protocol is based on – the future looks at least uncertain, if not bleak.
On the other hand, the platform has been able to grow the amount of revenue it makes via interest in the last three months.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in XVS.
Will Venus Protocol go up or down?
No one can really tell right now. While the Venus Protocol crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Venus Protocol?
Before you decide whether or not to invest in Venus Protocol, you will have to do your own research, not only on XVS, but on other, related, coins and tokens such as KAVA or Compound (COMP). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Venus Protocol (XVS) Explained
The Venus Protocol is one of many cryptocurrency lending platforms out there. What makes the system, which was founded in 2020 by a team led by crypto entrepreneur Joselito Lizarondo, a little different from its rivals is that it can mint stablecoins, cryptos that are designed to match the price of an asset, usually the US Dollar.
Unlike most crypto lenders, Venus Protocol is based on the Binance (BNB) blockchain which, it claims, helps it be both quicker and cheaper than similar platforms based on Ethereum (ETH).
The Venus Protocol is supported by its own native token which goes by the ticker handle XVS.
How Venus Protocol Works
The Venus Protocol system allows people to set aside a deposit of crypto as collateral against a loan made in stablecoins. The collateral actually helps mint the stablecoins, ensuring that the system works as it is supposed to.
In terms of XVS itself, this token gives holders the right to vote on changes to the network. It can also be bought, sold, or traded on exchanges.
It is worth pointing out that, because XVS is based on the Binance blockchain, it is a token, not a coin. You might see references to such things as a Venus Protocol coin price prediction, but these are wrong.
Venus Protocol Attention Tracker
Here is a chart for the Venus Protocol Google search volume for the past 90 days. This represents how many times the term “Venus Protocol XVS” has been Googled over the previous 90 days.
FAQs
Will Venus Protocol reach $100?
It might do, but not for a little while. PricePrediction.net said it would reach three figures in 2031. Keep in mind that, although XVS has traded above $100 before, it has not done so since May 2021.
What is Venus Protocol used for?
The XVS token gives its holders the right to vote on changes to the Venus Protocol crypto lending platform. It can also be bought, sold, and traded on exchanges.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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