Venus (CURRENCY:XVS) traded 4.4% lower against the US dollar during the twenty-four hour period ending at 19:00 PM ET on June 10th. During the last week, Venus has traded down 27.3% against the US dollar. One Venus coin can currently be purchased for approximately $25.70 or 0.00069667 BTC on exchanges. Venus has a market cap of $260.63 million and $89.63 million worth of Venus was traded on exchanges in the last day.
Here is how related cryptocurrencies have performed during the last day:
- Wrapped Bitcoin (WBTC) traded 1.4% lower against the dollar and now trades at $36,858.82 or 0.99906506 BTC.
- Cosmos (ATOM) traded down 6.9% against the dollar and now trades at $12.93 or 0.00035040 BTC.
- Creditcoin (CTC) traded 7% lower against the dollar and now trades at $3.58 or 0.00009695 BTC.
- Function X (FX) traded down 1% against the dollar and now trades at $0.38 or 0.00001017 BTC.
- StableXSwap (STAX) traded 0% higher against the dollar and now trades at $3.37 or 0.00009130 BTC.
- mStable USD (MUSD) traded 1.1% lower against the dollar and now trades at $0.99 or 0.00002685 BTC.
- Redd (RDD) traded 1.7% higher against the dollar and now trades at $0.0011 or 0.00000008 BTC.
- Phantasma (SOUL) traded 5.6% lower against the dollar and now trades at $0.23 or 0.00000628 BTC.
- Darwinia Network (RING) traded 5.4% lower against the dollar and now trades at $0.0455 or 0.00000123 BTC.
- Nestree (EGG) traded 1.8% lower against the dollar and now trades at $0.0053 or 0.00000014 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. “
Venus Coin Trading
It is usually not possible to buy alternative cryptocurrencies such as Venus directly using US dollars. Investors seeking to trade Venus should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Venus using one of the aforementioned exchanges.
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