DeFi
- Venus (XVS) surges over 40% in just one day.
- XVS can be attributed to several factors including the launch of Venus Stars website.
Venus (XVS), the decentralized finance (DeFi) platform, has seen an enormous surge in its price, with a surge of over 40% in just one day. As of April 10, 2023, the price of XVS has reached a high of $8.41.
According to CoinMareketCap, the Venus price is trading at $6.88, with a 24-hour trading volume of $163,796,352, at the time of writing.
XVX/USDT Price Chart (Source: TradingView)
This significant surge in the price of XVS has not gone unnoticed by the cryptocurrency community. There are several reasons why Venus (XVS) is experiencing such an impressive price rally. One of the primary reasons for the price surge is the recent bullish sentiment surrounding the cryptocurrency market.
Reason Behind Venus Price Surge
As Bitcoin (BTC), the world’s most valuable cryptocurrency, continues to break new all-time highs, many investors are flocking to altcoins like XVS in search of higher returns. Evenmore, this trend is also fuelled through the increasing acceptance of cryptocurrencies by mainstream institutions such as PayPal, Mastercard, and Tesla.
Another reason why XVS is experiencing such a surge in price is the recent news of Venus launching a new product. Added to this, on March 31, Venus announced the launch of Venus Stars website.
We’re thrilled to announce the launch of the Venus Stars website, the new home for the Venus Protocol Community and Ambassadors!🎉
Join us on this exciting journey as we continue to build and grow our community around the globe🙌https://t.co/TVGGh3Mvba
#VenusProtocol $XVS pic.twitter.com/KxtdduvvhU
— Danny / BD & Community @VenusProtocol (@VenusStar001) March 31, 2023
Investors are also bullish on Venus due to its growing user base. According to data from DeFi Pulse, Venus currently has over $835.25M in total value locked (TVL). More so, this indicates that more users are using the platform’s services, which could further drive the price of XVS higher.
Venus (XVS) TVL (Source: DeFiLlama)
In conclusion, the recent surge in the price of Venus (XVS) can be attributed to several factors, including the bullish sentiment in the overall cryptocurrency market, the launch of Venus Stars website, and the platform’s growing user base.
Furthermore, with the cryptocurrency market continuing to gain mainstream acceptance and more investors seeking high returns, Venus could be poised for even further growth in the coming months
