Venus (CURRENCY:XVS) traded 0.7% lower against the US dollar during the 1 day period ending at 21:00 PM ET on October 13th. During the last seven days, Venus has traded up 2.3% against the US dollar. One Venus coin can currently be purchased for about $28.48 or 0.00048837 BTC on major cryptocurrency exchanges. Venus has a market cap of $321.84 million and $62.84 million worth of Venus was traded on exchanges in the last 24 hours.
Here is how other cryptocurrencies have performed during the last 24 hours:
- Wrapped Bitcoin (WBTC) traded 3.2% higher against the dollar and now trades at $58,172.21 or 0.99756188 BTC.
- Cosmos (ATOM) traded 0.3% lower against the dollar and now trades at $34.34 or 0.00058889 BTC.
- Creditcoin (CTC) traded 0.4% higher against the dollar and now trades at $2.54 or 0.00004358 BTC.
- Function X (FX) traded 7.2% lower against the dollar and now trades at $1.35 or 0.00002323 BTC.
- Tranchess (CHESS) traded down 6.1% against the dollar and now trades at $3.32 or 0.00005699 BTC.
- Phantasma (SOUL) traded up 11.1% against the dollar and now trades at $0.74 or 0.00001260 BTC.
- mStable USD (MUSD) traded up 0.1% against the dollar and now trades at $1.02 or 0.00001741 BTC.
- StableXSwap (STAX) traded down 0.8% against the dollar and now trades at $2.73 or 0.00004679 BTC.
- Reflexer Ungovernance Token (FLX) traded 4.2% higher against the dollar and now trades at $291.42 or 0.00499747 BTC.
- Redd (RDD) traded up 1.7% against the dollar and now trades at $0.0011 or 0.00000008 BTC.
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 currently possible to purchase alternative cryptocurrencies such as Venus directly using US dollars. Investors seeking to trade Venus should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Venus using one of the exchanges listed above.
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