Verge (XVG) is currently trading for little over $0.12 apiece, up close to 100% on its price just 24 hours ago and up just shy of 2000% on its start of December pricing. Even for crypto standards that’s incredible run and it’s one that has drawn a large amount of speculative attention towards the token moving into the end of this month.
Here is our take on this coin and its tremendous growth as well as a look at what we expect from XVG going forward.
XVG is all about privacy.
Privacy is an incredibly hot topic in pretty much all areas right now but the application of cryptocurrency to individual privacy is one that’s garnered a lot of attention on the back of the various data leaks and intrusions that have hit press during 2017. Some coins, like Monero (XMR), have really managed to rocket on the back of their ability to leverage this growing privacy concern and in turn, their ability to use it as a marketing tool for the coins that underpin their market capitalization.
While XVG has technically been around since 2014, however, it’s not been nearly as successful in getting its name in front of potential investors. Perhaps the primary reason for this is because, when it was initially introduced, its name was DodgeCoinDark and only since a rebranding in 2016 has it been called Verge, or XVG.
So why so slow off the mark?
Because there’s no real company behind this one – it’s a community-driven coin and this fact has served to dramatically decrease the time and capital available for marketing (as opposed to development).
With that said, however, there is a longer-term advantage of focusing on development in favor of marketing and this is why we think XVG could be an interesting one to look at right now.
Essentially, the coin is one of the number one privacy coins available today. When you talk about privacy, many cryptocurrencies incorporate technology similar to what might be used in a VPN to implement privacy features. This, of course, isn’t particularly secure. Only two coins can claim to be 100% secure and they can do this by employing both Tor (The Onion Router), which is an IP service that allows for anonymous browsing by way of a more than 7000 relay-strong network and I2P (Invisible Internet Project), a more complicated (and not totally necessary to understand for the purposes of this discussion) alternative to Tor.
By harnessing both of these anonymity tools, a coin can ensure 100% privacy and, as mentioned, only two can claim this – XVG and the already mentioned Monero.
One of these currently trades for more than $400 a coin and a market capitalization of $6.5 billion. The other trades for $0.12 a coin and a capitalization of just $1 billion.
Even if we see a small percentage shift of the market away from Monero and towards Verge, therefore, we could see a sharp increase in the price of XVG and it’s likely that the run we are seeing in the markets right now is largely due to this type of shift.
So what comes next?
We think this one has plenty more room to run to the upside based on the fact that it’s one of just two privacy coins that have real potential to answer the security concerns that are becoming increasingly prevalent in today’s market. It’s lagging behind Monero right now, sure, but that’s more to do with a lack of market awareness than anything else and the further XVG rises, the more we will see this awareness gap close.
We will be updating our subscribers as soon as we know more. For the latest on XVG, sign up below!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of Verge
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