Venus (CURRENCY:XVS) traded down 4.8% against the US dollar during the 1 day period ending at 22:00 PM ET on September 25th. One Venus coin can now be bought for approximately $21.87 or 0.00051653 BTC on popular exchanges. Over the last seven days, Venus has traded 31.3% lower against the US dollar. Venus has a market cap of $245.08 million and $21.09 million worth of Venus was traded on exchanges in the last 24 hours.
Here is how similar cryptocurrencies have performed over the last 24 hours:
- Wrapped Bitcoin (WBTC) traded 0.2% lower against the dollar and now trades at $42,312.99 or 0.99925107 BTC.
- Cosmos (ATOM) traded down 9.6% against the dollar and now trades at $37.80 or 0.00089274 BTC.
- Creditcoin (CTC) traded down 7% against the dollar and now trades at $2.24 or 0.00005291 BTC.
- Function X (FX) traded down 2.2% against the dollar and now trades at $0.78 or 0.00001844 BTC.
- Phantasma (SOUL) traded down 9.4% against the dollar and now trades at $0.62 or 0.00001466 BTC.
- Tranchess (CHESS) traded 6.8% lower against the dollar and now trades at $2.81 or 0.00006629 BTC.
- mStable USD (MUSD) traded up 0.5% against the dollar and now trades at $1.01 or 0.00002376 BTC.
- StableXSwap (STAX) traded 1.5% lower against the dollar and now trades at $2.34 or 0.00005537 BTC.
- Redd (RDD) traded up 1.7% against the dollar and now trades at $0.0011 or 0.00000008 BTC.
- Reflexer Ungovernance Token (FLX) traded 1.1% lower against the dollar and now trades at $241.55 or 0.00570446 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 presently possible to buy alternative cryptocurrencies such as Venus directly using U.S. dollars. Investors seeking to acquire Venus should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Venus using one of the exchanges listed above.
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