Verge is one the cryptocurrencies to appear in the blockchain ecosystem during the reign of the nearly extinct Initial Coin Offering (ICO) days. Back in 2017, during the “mass movement to the moon”, the crypto ecosystem was filled with a “sea of coins”, all aiming to make a name within the community.
Amid several such cryptocurrencies gracing the community with brilliant ideas and unstoppable technology, Verge was one of the few that happened to succeed until now.
The popular crypto project, whose economy runs on its native digital currency, XVG boasts of faster transaction speed and many other incredible features. These make XVG a fit in this dynamic crypto ecosystem that promises so much for the future.
What is Verge?
Launched in 2014, Verge came out under the name “DogecoinDark” which was introduced by Justin Sunerock. Verge, according to its official documents, is an open-source secrecy coin which is governed by a group of cross-border developers. Verge runs on its native cryptocurrency, XVG and it utilizes the obscurity darkweb tool Tor for its anonymity feature and a mysterious network layer I2P to hide certain transaction areas and IP addresses.
The trade speed on Verge is virtually 5 seconds as a result of the usage of Simple Payment Verification (SPV). The Core QT wallet has incorporated TOR and SSL encryption which conceals the IP addresses of clients. The advancement of the Wraith Protocol improvement enables users to personally transact across the Verge blockchain with stealth addressing services.
Besides, Verge’s users may reportedly shift between public and private records on the Verge blockchain. The network gives five distinct Proof-of-Work algorithms for mining – Lyra2rev2, Scrypt, X17, blake2s, and myr-groestl.
Verge Coin [XVG] Price Today
The price of XVG is down by almost 10% within the last 24 hours. The coin began its 24-hour journey at the $0.0085 level. Although the bears appear to have been in control for about 42 hours before today, there was a sharp price decline on June 18, 04:12 hours UTC.
The decline sent prices initially crashing below the $0.00825 level before further steady price decrease set in. Towards the start of day, prices had touched the $0.0075 level with further downside appearing highly possible.
The possibility described above caused further plunge towards $0.0072 by 06:00 hours UTC on the morning of June 19. The bulls tried to make a reversal but could only move slightly before selling pressure stopped the price from rising above $0.0082.
At the time of writing, XVG is trading at $0.00775 amid a market capitalization around $126.3 million. The 24 hours exchange volume also stands at $28.2 million.
Verge Coin [XVG] Technical Analysis
XVG first appeared on exchanges on October 15, 2014. At the time, the coin merely had any value and continued to trade in the $0.000013 region for almost two years. The coin had a very low market capitalization and traded at nearly zero volumes on exchanges. The first major exchange volume was recorded in 2017 when over $3,000 XVG was traded during the month of March.
However, in mid-2017, XVG was affected by the general crypto surge that escorted many similar coins to greater price heights. As the frontrunner crypto, BTC was nearing its ATH value, XVG turned up and touched $0.0046 in June of the same year. At the time, its market capitalization had soared to around $21 million amid a daily exchange volume averaging around $6 million.
By December of 2017, XVG had soared and touched its all-time-high price at $0.26. The coin’s market capitalization has soared accordingly and exchange volume was hovering around 600 million on a daily basis.
A price decline set in early on in 2018 which brought about a steady decrease in the price of XVG. By January of the year, XVG had plunged to $0.19 as further decline was rapidly materializing. By February, XVG had successfully plunged to $0.04. Exchanged volumes were also vacillating at $18 million. The price surged a little bit into the second quarter of the year and prices were around $0.078 per unit.
In 2019 however, XVG price had fallen back to the $0.007 level. This was where things were until the end of the year. Although alternate price increase and decrease was experienced, the overall change in 2019 was majorly insignificant.
XVG Coin [XVG] Price Prediction 2020
XVG price momentum in 2020 remains bullish. In January, the price started the year at around $0.0035 and traded sideways for most of the month.
Into the month of February, a little price hike initially propelled XVG price towards $0.004, but by the end of the month, prices had returned to its year start value. Later in the month, a progressive price increase escorted XVG price towards $0.006 but a steep fall crashed it back to $0.002 by mid-March.
An immediate price reversal set in and XVG rose quite steadily until June. By the beginning of June, the price was around $0.004 and further push got price trading higher at $0.009 per unit by middle of the month. Within the last 5 days from now, a sharp decline has set in to record a little price loss from which we think XVG may recover in the short term.
At the moment, the price is currently $0.0077 and further uptrend is highly probable. By the end of 2020, many technicals agree to a price jump up to $0.01 per unit of the cryptocurrency.
Verge Coin [XVG] Price Prediction 2021
The Verge price [XVG Price] is expected to grow exponentially. According to analysis from experts, the average percentage rise of XVG is around 200 in the next one year. This means VXG may likely surge up 2 times its current price to around $0.025 per unit by the end of 2021.
Verge Coin [XVG] 5 Years Price Prediction
Within the next 5 years, as adoption grows and cryptocurrencies generally become more popular, XVG price is predicted to have surged more than 5 times of its present value. By the end of 2025, prices may touch as high as $0.15 and steady around that value. This may be followed by further price gains within the decade.
XVG Price Market Prediction
Few crypto experts and traders claim that XVG price is in the ‘bullish’ zone, which refers that investors believe in its potential, and their contribution makes the coin rise in price.
XVG, like the rest of the market, is tied behind bitcoin’s price action. If bitcoin enters on another bull run, XVG can hope for one too. As is very unlikely, we can’t expect much to change for XVG price-wise this year.
- According to megacryptoprice, Verge will rise to $0.169428 in a year, which adds 1,100 percent to the present value.
- Verge coin price prediction on Wallet Investor is less optimistic, users hope it to reach $0.02.
- Facebook is more assured with its forecast $0.07. The website states XVG will grow to $0.039 in a year.
- According to Coinfan, later, in 2020, we can observe significant growth of the Verge price, it can rise from $0.1 to $0.45.
- Wallet Investor claims that Verge price may reach $0.06 in 2020.
Our Verge [XVG] Price Prediction
Our one year price prediction of Verge price leans towards the average of several opinions. Verge [XVG] may surge as high as $0.01 by the end of this year. By 2021, we predict that Verge [XVG] may trade around $0.1 and in 5 years, XVG may be changing hands at around $0.5.
Verge Partners With MeconCash
In May, Verge announced partnership with giant Korean tech company, MeconCash. This XVG coin news partnership will enable users to transact in Verge in about 13,000 MeconCash ATMs across Korea.
Verge And MobilePay Team Up
Verge announced a partnership with MobilePay in the month of June. This XVG news will allow users to control their own data and funds in shopping and other e-commerce activities.
Verge Announced Some Currency Developments
These include Verge Codebase, ElectrumX+ElectrumV4, Verge android wallet, Verge iOS wallet, and Electrum Mnemonic sweeping…