While most cryptocurrency enthusiasts are in panic mode, the expert traders couldn’t be any happier.
The reason is simple; the best time to buy is when the market is bearish. Any crypto investor will tell you that prices will soon take on a bull rally and one particular coin that has the biggest promise of making a surprise comeback is Verge (XVG)
What is Verge
Well, Verge is a cryptocurrency that boasts of being the most privacy and anonymity focused cryptocurrency in the market.
Basically, it aims at giving individuals a flexible option of sending and receiving payments. The specialty, of course, being its privacy and anonymity feature built on TOR and i2p technology.
Currently, Verge (XVG) commands about $982 million of the estimate half a billion dollars market capitalization of the entire crypto industry. Its current price of about $0.06 is a drop from its Christmas day hit that saw it go as high as $0.23 a coin.
What made verge rise over the holidays?
Verge posted an interesting rally over the holidays that saw its market capitalization hit an all-time high of over $3 billion.
XVG’s price jump is suspected to have been triggered by a tweet from John McAfee where he identified Verge as one of the cryptocurrencies bound to win the privacy race.
Around the same time, verge appreciated in price by over 800 percent in a matter of weeks making it a symbol of the rapid gains that have become synonymous with most cryptocurrencies.
Impressive as it was, this didn’t last long and most of the price appreciation has been shading together with the overall dip of Bitcoin and other coins.
Will it ever rise again?
Well, considering it recent price rally, it is only a matter of time before XVG gains its previous high with the new developments happening currently.
If the statement by John MacAffe is anything to go by, Verge could be the leader of the privacy coin race in 2018.
Basically, South Korea controls a huge chunk of the crypto market and the alleged move to ban cryptocurrencies by its government saw a significant price dip in BTC by over 11 percent.
In response the rest of the coins have been dropping along with BTC over the past few weeks.
However, there is good news, South Korea just confirmed that there are no plans for banning cryptocurrencies and although this is yet to catch on; it might just result in the re-emergence of the South Korean market and therefore another bullish rally in the market.
Verge (XVG) is making huge moves at the moment. It has just been added to another exchange called Godex and is one of the coins that are a top contender to get listed on Cobin Hood’s crypto trading platform Cobinhood.
If the South Korean market gets back to the crypto space there is no doubt that the huge numbers the of crypto enthusiasts previously affected by the government’s move to freeze crypto accounts will be out seeking for reliable anonymous coins and Verge is surely set to be at the top of that list.
We just have to wait and see.
This leads me onto the next topic of which to take note, the introduction of the Wraith protocol.
This new technology is soon to be introduced and will seamlessly allow the user to choose between public and private ledgers on the same blockchain when making transactions.
This will be a game changer in a market where security can often be compromised regardless of how much care is taken by its users.
The hard truth is that the more people that start using cryptocurrencies for financial transactions the more of a target these will become for hackers, we need to limit or completely remove these prying eyes.
Therefore, an important step forward is to completely encrypt all transactions including the user details, and wraith will provide the option to do this at the click of a button.
The way it works, if a user would want to perform a transaction with complete user privacy they would they would turn the wraith protocol ‘on’ activating the private ledger.
Conversely, for when transaparent transactions are rquired, the user would turn the protocol ‘off’ which in turn would activate the public ledger to transact on.
Extremely simple stuff which when paired with Tor integration to hide users IP addresses can indeed become an invaluable tool for privacy.
Verge has been flying relatively low under the radar until its recent price hike in December 2017 which saw price rise as high as 0.28c
USD (albeit only for a short time) before receeding back down again. At the time of writing XVG is currently hovering around the 0.15c mark which is still a sizeable increase to say the least.
General forecasts floating around the web are suggesting that this could be a $15 coin one day.. but of course this is only an opinion in a speculative market.
Verge has a long long way to go yet, but its already clear that the technology on offer paired with the importance of security
Verge Key Features A decentralized currency which uses an open-source platform, meaning there is no main authority controlling the coin.
The use of a transparent ledger that allows anyone to view all of its transactions, but protects user identities and locations by integrating both Tor and I2P to not expose IP addresses.
The inclusion of the Wraith protocol allows users access to a private ledger for anonymous transactions.
Sending and receiving addresses are impossible to decipher. Transactions cannot be revealed by using a blockchain explorer and IP addresses of both the sender and receiver are totally obfuscated.
All of the development and marketing is supported by members of the community, not by pre-mined coins or ICO’s. The development team can be contacted for support or to express new ideas.
Offers a wide variety of secure wallets across multiple operating systems. The inclusion of the Tor Android wallet is another unique feature amongst privacy orientated coins and offers mobile anonymity.
Is Verge really the new bitcoin? This is a VERY steep statement we know! However… The beginning of verges life was very similar to bitcoins…
Verge started off at a pretty much worthless…
There are 16.5 billion coins as a TOTAL supply but this doesn’t factor in the ones that have been lost…
At one point i had over a million verge coins and i left 120,000 on an exchange to later find out that they were 17 cents!… Bonus! But i must admit…
I sold my million before they hit one cent! Dont be like me, the project is a great one and ive re brought into this at such a bargain price! At the time of this blog Verge is currently Rank 29 on Coinmarketcap.com trading at 5.1 cents…
To cap it off in Lehman’s terms we expect verge to surpass its ATH with a gradual healthy growth in 2018.
We expect a 2 dollar verge before the end of the year but as always do your own research! If you would like to learn more about various coins from DollarDestruction make sure you subscribe to our site!