This article gives a brief introduction to the Verge cryptocurrency. After the introduction, you will learn about the current XVG market and get some price predictions for 2019.
What is Verge?
Verge was created as DogecoinDark in 2014. There was no ICO or premine. DogecoinDark rebranded as Verge in 2016.
Verge is boasted as an open-source privacy coin with TOR and I2P integrated wallets, to obfuscate IP addresses. XVG also has dual-key stealth addressing. Verge is known for low fees and quick transactions.
Verge is a mineable coin with 5 different mining algorithms: X17, Lyra2rev2, Blake2s, Myriad-Groestl, and Scrypt.
Verge has a loyal following but also draws sharp criticism from much of the crypto community.
Some reputable names like Bitcoin.com even say it doesn’t compare to other privacy coins. Despite claims by Verge that the coin is untraceable.
XVG has a max supply of 16.555 billion. The current circulating supply is just over 15.856 billion XVG.
Don’t forget to check out the list of vendors that accept XVG.
Is Verge a Good Investment?
As of July 26th, 2019, the price for one XVG is $0.005861 USD. The current price retains 1.95% of the value from its all-time-high (ATH) price of $0.300588. If you bought $1000 at the ATH and are still holding, your XVG would be worth $19.50.
Folks that got in early would still be in the green. Even after this sharp decline following its ATH at the end of 2017. Especially if you bought some XVG when it was still known as DogecoinDark. For example, if you had $10 worth of DogecoinDark on February 5th, 2015, that would currently be worth $1,502,940, over $1.5 million USD.
If you bought $10 worth of XVG on January 1st, 2017, your $10 would currently be worth $2920.50.
This kind of price movement is nothing to shake a stick at. XVG is highly speculative, but it also has some true believers.
A lot of controversy surrounds this coin, and many even accuse it of being a scam. If you are thinking about investing, you should look at the arguments for and against Verge. Three high profile attacks and missed deadlines are examples of events that fuel the controversy.
Many investors are still holding on, betting that XVG will return to its all time high. Others are less hopeful.
As mentioned above, the price of XVG is $0.005861. The price range for the last 90 days has been $0.005170 – $0.012297, a 136.85% difference in price, from the lowest to the highest.
The market cap for XVG is $92,862,524, giving it a rank of #72.
The 24-hour trade volume of XVG is currently $1,021,323 USD. Daily volume has fluctuated quite a bit during July, ranging from $770k to $2.7 million. This kind of difference in trade volume is not unique to July. 2019 has seen daily trade volume range from $413k to $29.2M.
These stats show that Verge is a highly volatile asset.
Current Price Predictions
CoinSwitch predicts that XVG could hit $0.09 before the end of the year, calling it a “conservative yet thoughtful prediction”.
Trading Beasts says it will hang around its current price for the rest of 2019. CoinPredictions shares this sentiment.
Bitdec has a very bullish forecast for XVG, predicting a price of $0.531309 for 2019 and $3.98 for 2020.
crypto-rating.com predicts XVG to hit $0.009840 around the end of August. CryptoGround predicts it will be $0.0057 at the end of August.
CryptoNewsZ says it could reach as high as $0.05 by the end of 2019. They also say XVG will likely reach a new all time high within the next two years.
Digitalcoin Price says that even after 7 years, the highest price XVG will achieve is $0.02832120, occurring in 2026. They predict that August will be the best month for XVG in 2019, reaching an average price of $0.011222. They also say it could fall to $0.008562 in November. A chart detailing the forecast is shown below.
Bitdegree and Coinpedia both say that XVG will rise in price but don’t give specific numbers.
Coin Predictor: In mid-August, XVG should jump to $0.008537 before pulling back as the month progresses, reaching $0.006964 on August 29th. It will drop sharply, reaching $0.001210 on August 31st. According to Coin Predictor. It could drop as low as $0.000345 at the end of September. October could see a rebound, reaching $0.001279 before the start of November.
Our Verdict – Are These Predictions Justified?
It hasn’t been a steady ride for Verge or cryptocurrency in general. The volatility deters some investors but attracts others.
The current price is close to the 2019 low and could be on a temporary downtrend. It’s likely that XVG will hit at least $0.004100 before the end of the year but could fall lower. If the bulls gain control, XVG could reach $0.018559, making a new 2019 high.
Price Predictions should not be used to guide investment. When it comes to any investment, don’t invest money that you can’t afford to lose.
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