Venus Protocol (XVS) sets new records as TVL grows in multiple areas for $25.1 billion in the fourth quarter.

Today, Crypto analyst Messari released a report based on the status of the Venus Protocol (XVS) for the fourth quarter of 2024. This data provided a detailed overview of XVS’ transformational journeys over the period (October and December 2024), referring to the increased critical financial growth and ecosystem adoption.

Venus’ record-breaking quarter

Binus (XVS) is a Defi protocol for borrowing and lending that runs on the Binance chain, recording outstanding years. That TVL reached $25.1 billion AHT by the end of the fourth quarter (December 24th) from a $2.19 billion TVL registered in the third quarter (September 24th). This represents a 14.6% spike over the last quarter, but growth was driven primarily by Venus’ move to introduce BTC page assets (such as SOLVBTC, EBTC, LBTC, etc.) to its lending platform.

Quarterly revenue also reached $19.7 million in quarter 4, up from $11 million in quarter 3. This is a QOQ growth of 79.9%. Increased borrowing activity and increased market speculation were catalysts for a surge in revenue.

On the downward trend, daily active users of the Venus platform increased by 27.9% QOQ, surged from 609 in the third quarter (September 24) to 779 in the fourth quarter (December 24). This increase means rebounds of user engagement after a decline seen in past quarters.

Additionally, Venus protocol deposits and withdrawals have increased significantly. Sediments on the platform surged on a massive scale in the fourth quarter (December 24), up 128.5% from 74,000 in the third quarter (September 24) to 169,231. The withdrawals increased significantly, with QOQ increasing from 67,694 to 152,932, up 125.9%.

However, the XV bets on the Venus platform fell 5.65%, down from $8.17 million in the third quarter (September 24) to $7.7 million in the fourth quarter (December 24). Despite the decline, users’ participation in Venus Staking remained strong as investors remained involved in the staking platform.

Venus price update

The robust financial growth of the protocol reflects the market performance of native tokens. XVS is currently striving to maintain the uptrend movement. Its price has risen 10.3% over the past week after moving away from the downtrend that locked it in over a month ago. The continuous price recovery demonstrates its resilience amidst the volatility of the market.

Coinglass data shows that XVS’s open interest (IO) has increased by 8.69% over the past 24 hours, indicating a growing enthusiasm in the market. The increase in IO shows that more traders are building their positions. This suggests optimism about price growth and often bullish feelings.

Additionally, the asset prices are currently trading at $6 after an increase of 3.5% over the past 24 hours. This increase indicates a growing interest from investors and traders. Enhanced user participation is usually an indicator of increased reliability in tokens, and in this case of XVS, it could indicate price increases in the coming weeks.