Venus Price Prediction

Venus (XVS) is a BEP-20 governance token on the Venus network, which is a lending and borrowing platform in the DeFi space, launched by the team behind Binance’s Swipe in 2020. Venus is designed to solve some of the current problems in traditional lending and similar crypto solutions:The banking system has a lot of conditions for a borrower, such as having to pass a credit check, even if their loan is fully collateralizedMany decentralized protocols run on Ethereum, which leads to slow processing speeds and high transaction feesSome DeFi solutions such as Compound are also governed mostly by private funds, so they aren’t really decentralized.Venus allows anyone to borrow cryptocurrencies from anywhere without checking credit history on the only condition that they can supply the collateral. Moreover, users can utilize their collateral to provide liquidity, earn interest on it, or mint stablecoins from it to use in the general crypto space. The transactions are fast and low-fee since Venus runs on Binance Smart Chain. The network is secured by a unique hybrid protocol — Proof-of-Staked Authority (POSA).The default synthetic stablecoin on Venus is VAI, pegged to the value of the dollar. XVS is used for governance, and since it was distributed through fair launch, it facilitates truly decentralized decision-making.XVS appeared on the market in October 2020, at modest levels of ~$2.5-$3.5 at first. As renewed interest in DeFi gained momentum, so did the price, which rose above $8 in January 2021. By February it took off, surging as high as $98. Later, in the early spring, some changes in protocol and asset withdrawal rates raised some concerns, at which point the price dropped to around $40. It recovered by May, reaching $147.02 on May 10, but climbing down over the next few days.On May 18–19 2021, XVS experienced a sharp…