The worth of Verge (XVG) will increase by 800% in every week. What’s XVG and why is it rising so quick?
Verge (XVG) has catapulted itself to 29th place in the top 30 cryptocurrencies with a new market capitalization of USD 1.1 billion.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
December 2017 was an unprecedented month for cryptocurrencies. After the crack $ 10K, Bitcoin approaching $ 20K after that the introduction of Bitcoin futures trading on Cboe and CME. As a result, altcoins like altcoins Litecoin, Ripple, TRON, Cardano, Stellar, Bitcoin Cash and Qtum have seen massive growth to reach record highs.
Another coin that has “mooned” over the past week is Verge (XVG).
What is verge?
Verge Currency is a blockchain-based cryptocurrency known for being secure and anonymous – with an emphasis on privacy and everyday use. Several anonymity-centered networks (e.g. Tor, I2P) are used that mask IP addresses in order to make transactions no longer traceable.
According to the official website, Verge’s mission is to:
… empower people around the world by bringing blockchain transactions to everyday life. Verge Currency makes it possible to conduct direct transactions quickly, efficiently and privately. Verge currency gives businesses and individuals flexible options for sending and receiving payments. With the push of a button, we offer helpful integrations and tools that you can use to process large transactions between merchants and small private payments.
As we saw last month with Bitcoin and Ethereum, where transaction speeds have lagged significantly under new conditions, Verge uses’The SPV (Simple Payment Verification) technology keeps the confirmation times at an average of 5 seconds.
Verge is at the forefront of a policy of ultra-transparency and openness. Unlike many blockchain-based cryptocurrencies / projects, Verge is not a private company funded by prepackaged coins. It is an open source platform and the development team maintains an open contact policy with thousands of members of the Verge community to develop, support, and implement new ideas about the Verge network.
At 2:14 p.m. PST, Dec. 12, XVG sold for $ 0.009336 USD according to CoinMarketCap. On December 19, at 12:34 p.m. PST, that number was $ 0.074720 – an 800 percent increase. At the time of this writing, the price is $ 0.073867.
Why is XVG surging?
Last month’s Bitcoin surge has impacted cryptocurrencies across the board. N.New investors are flooding the market, especially through the popular cryptocurrency brokerage Coinbase, the adds around 100,000 new users every day, recently surpassed YouTube is number 1 in the Apple App Store.
A natural result is that many investors are beginning to understand the current weaknesses in investing and trading Bitcoin. In particular, the frustration with delayed transaction times could lead these new participants to be sent to coins that are trusted to move faster – which is also a possible cause of the recent spikes in Litecoin and Ripple.
Verge’s emphasis on privacy is likely to appeal to investors – especially in times of global political turmoil.
In contrast to some other data protection coins, Verge places particular emphasis on usability and usability in addition to data protection measures. Verge also offers a wide variety of secure wallets to increase security for its users. Among them is the Tor Android Wallet for mobile anonymity, a unique offer in the community.
The recently announced “Wraith Protocol” also allows users to seamlessly switch between public and private ledgers on the Verge blockchain.
You can find more information about Verge on the official website. To stay up to date on community updates, join the Telegram channel and visit the r / vergecurrency subreddit.
Editor’s Note and Disclosure: The author invests in cryptocurrency markets. Neither the author nor Forbes advocates participating in token sales or cryptocurrency investments, all of which have significant inherent risk. Take advice from a financial advisor and do your own due diligence before considering an investment.