{"id":182345,"date":"2021-02-19T02:50:00","date_gmt":"2021-02-18T23:50:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/venus-xvs-rallies-900-tvl-hits-3-54b-after-binance-smart-chain-launch\/"},"modified":"2021-02-19T02:50:00","modified_gmt":"2021-02-18T23:50:00","slug":"venus-xvs-rallies-900-tvl-hits-3-54b-after-binance-smart-chain-launch","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/venus-xvs-rallies-900-tvl-hits-3-54b-after-binance-smart-chain-launch\/","title":{"rendered":"# Venus (XVS) rallies 900%, TVL hits $3.54B after Binance Smart Chain launch"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b18037b046\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b18037b046\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/venus-xvs-rallies-900-tvl-hits-3-54b-after-binance-smart-chain-launch\/#Total_value_locked_grows_as_the_list_of_supported_assets_expands\" >Total value locked grows as the list of supported assets expands<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Venus (XVS) rallies 900%, TVL hits $3.54B after Binance Smart Chain launch <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>As decentralized finance continues to increase it hold on the wider cryptocurrency market, Binance Smart Chain (BSC) is beginning to emerge as a suitable option for traders looking to escape from high transaction fees on the Ethereum (ETH) network.\u00a0<\/p>\n<p>With more attention being paid to BSC, DeFi projects operating on the chain have also seen an influx of buying activity in recent weeks as token holders rush to supply liquidity for recently launched protocols. One such project is Venus (XVS), an algorithmic money market and synthetic stablecoin protocol designed specifically for the BSC. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/683543e4-e829-4df9-87ce-4b79dc227543.png\"><figcaption style=\"text-align: center;\"><em>XVS\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\">TradingView<\/a> shows that XVS price has exploded 775% from a low of $10.04 on Feb. 2 to an all-time high of $82.86 on Feb. 18 amidst an increase in activity on BSC. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Total_value_locked_grows_as_the_list_of_supported_assets_expands\"><\/span>Total value locked grows as the list of supported assets expands<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A scroll through the project&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/VenusProtocol\">Twitter<\/a> feed points to a rapidly expanding ecosystem that has been systematically adding top cryptocurrency projects to its list of assets that can be deposited to earn interest, participate in the liquidity mining program, or use as collateral to borrow other assets. <\/p>\n<p>Cardano (ADA) is the most recent addition, while the other projects currently available are Ethereum (ETH), Litecoin (LTC), Polkadot (DOT) and Chainlink (LINK)<\/p>\n<p>Similar to the MakerDAO (MKR) platform and DAI, users of Venus can borrow against their assets and mint Vai, the stablecoin for the Venus protocol. Since Feb. 1, the supply of VAI has grown by 360% from 42 million tokens in circulation to a current count of more than 195 million VAI. <\/p>\n<p>According to the Venus dashboard, there is currently $3.54 billion in total value locked in the Venus protocol, making it the seventh-largest DeFi protocol by TVL behind SushiSwap which currently has $3.7 billion in TVL. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/507cd23f-2d22-4266-a091-b0b49c0e4e92.png\"><figcaption style=\"text-align: center;\"><em>Total value locked, total borrowed and available liquidity on Venus. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.venus.io\/market\"><em>Venus<\/em><\/a><\/figcaption><\/figure>\n<p>A survey of the top-performing assets over the past week shows that BSC projects have outperformed the competition and are beginning to attract liquidity away from projects on the Ethereum network.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/699be071-8d73-4543-b865-da2f66198e09.png\"><figcaption style=\"text-align: center;\"><em>XVS\/USDT price compared against direct competitors. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>High gas fees on the Ethereum network are likely to continue for some time and this could catalyze further growth in chains like BSC and DeFi protocols that are able to capitalize on its lower transaction costs. <\/p>\n<p>With an expanding list of supported tokens and a rapidly growing TVL, Venus is quickly establishing itself as a top contender in the decentralized finance space. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/venus-xvs-rallies-900-tvl-hits-3-54b-after-binance-smart-chain-launch\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Venus (XVS) rallies 900%, TVL hits $3.54B after Binance Smart Chain launch &#8221; As decentralized finance continues to increase it hold on the wider cryptocurrency market, Binance Smart Chain (BSC) is beginning to emerge as a suitable option for traders looking to escape from high transaction fees on the Ethereum (ETH) network.\u00a0 With more&#8230;<\/p>\n","protected":false},"author":1,"featured_media":182346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMTE0MTM0ZDEtYjAxOS00NWJjLWI3OTMtZWU5N2Y4ZTVhNjEzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,75014,74863,74860,74868,75916,82402,75493,89215,88700,73785],"class_list":["post-182345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-binance","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-defi","tag-dex","tag-ether-price","tag-stablecoin","tag-sushiswap","tag-uniswap","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/182345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=182345"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/182345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/182346"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=182345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=182345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=182345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}