VVS Finance is on a mission to make the decentralised finance (DeFi) industry more welcoming to newcomers with its ecosystem of accessible products.
The VVS cryptocurrency is integral to this through an incentivisation scheme. Yet investors appear hesitant as the token was down 96% from its all-time high in November, on 25 October 2022, when it traded at $0.000005936.
What is VVS Finance?
The world of DeFi has flourished over the past year, with new blockchains, ecosystems and protocols being designed to give individuals financial autonomy.
However, the VVS Finance platform claims that the industry is intimidating to newcomers, whether that is the unfamiliar user interfaces or complex terminologies.
As an acronym for “very very simple finance”, VVS Finance wants to make DeFi more accessible with its low fees and high transaction speeds. It chose the Cronos (CRO) blockchain to achieve this.
Since launching in 2021, it has already developed an ecosystem of products. Bling Swap gives investors the opportunity to trade tokens with the efficiency benefits of the VVS Finance protocol. Meanwhile, Crystal Farms is a product for users to stake their funds and earn rewards.
The VVS staking cryptocurrency
The DeFi platform is looking to make a mark with its VVS token, which is powering its “comprehensive and rewarding incentive programme”. There is a range of opportunities to earn the coin.
Liquidity providers, those staking their tokens in the Crystal Farms product, will earn two-thirds of all swap fees on the platform. Investors can then stake their VVS tokens to earn even more of the cryptocurrency through its Glitter Mine. According to its litepaper:
“In order to sustain rewards for the contributors and users of VVS Finance, a significant portion of the VVS supply is earmarked for future community initiatives.”
VVS past performance
The VVS token launched at the end of 2021, going live on 22 November with an opening price of a little over $0.0001. It saw an initial rise and reached its all-time high of $0.0001549 two days later.
But the cryptocurrency soon fell victim to the bear market and closed the month at $0.00012.
It saw a slight rise in December after a flurry of announcements, including a trading battle between the CRO and bitcoin (BTC) cryptocurrencies. On 24 December, it revealed ENJ and LINK were being listed on the protocol. The same day VVS peaked at $0.00007.
VVS eventually continued its downward trajectory, dropping to the $0.00002 mark in January 2022.
The cryptocurrency did experience a slight rally in February as the Cronos blockchain surpassed $2bn in total value locked (TVL). VVS Finance was also announced as the leading project on its ecosystem.
After reaching a high of $0.000043 on 10 February, VVS corrected and closed the month at $0.00003.
The crypto crash of 2022, which dramatically impacted the DeFi industry, drove difficulties for the VVS token. It fell below the key $0.00001 barrier in May and to a low of $0.0000049 on 18 June.
At the time of writing, on 25 October, VVS was trading at approximately $0.000005936.
VVS finance price prediction round-up
At the time of writing, there was a mixed approach when it came to a VVS price prediction. Coin Codex said the sentiment was bearish, with 12 indicators signalling bullish signals, and 15 signalling bearish signals. Its short-term, the VVS finance price prediction for 2022 said it would be $ 0.000005731 by 24 November.
TechNewsLeader said VVS could have reached a maximum price of $0.00001095 in 2023. Its VVS finance price prediction for 2025 thought this could go to an average of $0.00001931 and then $0.00012748 in 2030.
Price Prediction expected it could have reached a maximum price of $0.00000692 this year and that it could average $0.00002067 in 2025. Its VVS finance price prediction for 2030 suggested it could average $0.00012998.
The VVS finance coin price prediction from AMB Crypto anticipated steady growth for the DeFi token. The site said it could hit $0.000017 this year and average $0.000031 in 2028. By the beginning of the next decade, it suggested the VVS finance crypto price prediction could have risen to a maximum price of $0.00006.
When considering a VVS token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
