The largest project on the Cronos chain, VVS Finance (the name stands for “very, very simple finance“) aims to increase the rate of crypto trading in the mainstream.
With an easy-to-use interface and gamification, the decentralised exchange (DEX) is attempting to attract users with less experience in the world of cryptocurrencies and decentralised finance (DeFi).
According to the official literature, the Indian VVS team is “determined to build DeFi products for our aunts and neighbours, with a goal of bringing amazing protocols to the masses”.
But does the project have legs? What is the VVS Finance price prediction? Will VVS Finance go up or down? Please read on.
What is VVS Finance (VVS)?
Backed by blockchain accelerator start-up Particle B, VVS Finance is ranked the 54th-largest cryptocurrency decentralised exchange (as of 24 August 2022) and provides a range of capabilities, including staking, trading and swaps.
Calling itself the “gateway to the decentralised finance movement,” the crypto project ultimately wants to reach billions of people. Despite the crypto’s founders being anonymous, the project is supported by Crypto.com.
According to VVS Finance’s website, users can earn income through trading, being both a liquidity provider and a VVS miner.
Inflationary issues
In late February 2022, the exchange sparked controversy due to questionable tokenomics. The current circulating supply of the VVS token is over 24 trillion, which is a huge number of coins when compared with other DEXs. SushiSwap, for example, only has about 127 million, while Uniswap has around 746 million.
The inflationary nature of the token has drawn concern from investors, especially since that circulating supply of 24 trillion is due to increase to 100 trillion over time. With so many coins in circulation, keeping the value of each coin high could be quite difficult, especially if the DEX does not attract huge numbers of traders to its platform.
So how will this information impact a VVS Finance price prediction for 2022? Before looking at the forecasts, let’s first review the performance of VVS.
Recent token performance
The coin rose immediately after launch, increasing from $0.0001123 on 22 November 2021 to $0.0001542 on 24 November . The VVS coin subsequently dipped to $0.0001154 on 26 November, before rising again to $0.0001442 on 3 December 2021.
Throughout December the VVS price began to fall, slipping to $0.00006827 on 13 December 2021, before falling further to $0.00002382 on 22 January 2022. The coin subsequently rose to $0.00004303 on 10 February 2022 before slipping to $0.0000263 on 24 February. By 18 March, the coin was trading at lows of $0.00002126.
However, as the broader crypto markets showed fleeting signs of recovery towards the end of the first quarter of 2021, the price picked up. On 28 March 2022, the coin was trading at $0.00002833, but the hike was not sustainable. The crypto fell further and closed the month of April at $0.00001949.
A marketwide crash in May and June saw the token sink to new lows. VVS was on a stark downtrend in the following weeks. Flash crashes throttled the already volatile markets, spooking investors and causing the value of the token to hit a new all-time low of $0.000004955 on 18 June 2022.
As of 24 August 2022, at the time of writing, the token was trading at $0.000006677, up approximately 40% from the all-time low.
The coin has a maximum supply of 100 trillion coins and a current circulating supply of over 24 trillion (24%). The coin has a current market cap of about $162m, making it the 234th largest crypto by that metric.
How does this information affect a VVS Finance price prediction?
VVS Finance price prediction
While forecasts can be helpful as an indicator of which direction the price of a coin or token may move in, it’s important to remember they should be viewed as possibilities rather than absolutes. This is especially the case when considering long-term forecasts, as these can sometimes be completely off the mark. This is because of the inherent volatility of the crypto market, but also the many unknowns that could affect future prices.
WalletInvestor offers a bearish forecast, suggesting VVS could go down to $0.000000625 (a 91% decrease from the current trading value) in a year’s time and not recover, and describing the coin as a “bad long-term (one-year) investment”.
Gov Capital has a similar sentiment, predicting the coin will lose all of its value over the next 12 months.
DigitalCoinPrice, on the other hand, suggests that VVS Finance could achieve a price of $0.00000937 in September (up 40%), and $0.00000942 (41%) in December. The site forecasts an average valuation of $0.00000957 in 2023 (up 43%) and $0.00000971 in 2024 (up 45%). The website’s VVS Finance price prediction for 2025 is $0.0000129 (almost double the current value) and it suggests it will rise to $0.0000305 by 2030, up approx 356%.
Another VVS Finance price prediction for 2030 can be found at PricePrediction, which makes a more bullish long-term projection of $0.00017656, representing a near 2,600% return on investment.
How many VVS Finance are there?
VVS Finance has a maximum supply of 100 trillion VVS tokens and a current circulating supply of 24.3 trillion VVS.
Is VVS Finance a good investment?
Forecasters do not seem to think the coin is a good investment right now. As a highly inflationary coin in a saturated market, the protocol has not perfomed very well since its launch. Saying that, it has solid backing from some well established crypto companies, such as Crypto.com and the Cronos blockchain.
It is important to note that cryptocurrencies are highly volatile assets, and that analysts’ forecasts can be wrong.
Will VVS Finance go up or down?
It could go up, although some experts suggest it might go down. Always remember that forecasts, especially longer-term ones, should be viewed as indicators rather than absolutes. Cryptocurrencies are highly volatile assets, and analysts’ forecasts can be wrong.
Hope this article can help you get a further understanding about VVS Finance price prediction.
