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Here’s Why Verge (XVG) Could Overtake Monero (XMR)

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Verge vs Monero
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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.

XVG Daily Chart

XVG Daily Chart

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?

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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

Bitcoin

Ethereum Flippening Bitcoin In 5 Years?

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Ethereum flippening Bitcoin
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The dominance of Bitcoin (BTC) in the crypto markets due to the bear market, currently stands at 55.2%. Ethereum’s dominance is a distant second at 10.8% of the total cryptocurrency market capitalization. This is despite the fact that the value of ETH is still shaky with many traders postulating that it could get worse for the digital asset before it gets better. Ethereum’s decline has been blamed on three factors outlined below:

  1. Congestion issues on the network
  2. ICOs cashing out the ETH raised in the ICO boom of last December to late February this year
  3. Traders shorting ETH due to the above two reasons

Ethereum Flippening Bitcoin?

In a tweet on the 18th of September, Weiss Ratings stated that ETH will grab 50% of Bitcoin’s market share in 5 years. Doing the math, this means Ethereum flippening Bitcoin in the markets with a dominance that will be around 38%. BTC would be at half its current value, and at 27.6% of the total crypto market cap.

The full tweet from Weiss Ratings would go on to explain why this would happen:

“#Bitcoin will lose 50% of its #cryptocurrency market share to #ETH within 5 years, due to it offering more uses and being backed with superior #blockchain technology. We completely agree – unlike #BTC, which is a one-trick pony, the limit of…

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Bitcoin

Crypto News: What Happened To Bitcoin?

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The crypto news of the day is what the heck happened yesterday in Bitcoin? In a matter of 2 hours, we saw the Bitcoin price go from 6320 to 6080 on Bitmex and then rocket higher to 6580. In the process, stops were cleaned out for both longs and shorts.

For all of 2018, Bitcoin has been a perfect vehicle for swing traders. The market has been playing support and resistance levels perfectly. The play has been to buy Bitcoin around the 6000 level and sell above 7000. Until this pattern changes, it’s what traders and investors need to keep doing. Yesterday’s price action, while crazy and extreme, does still support this strategy.

Why the crazy move in Bitcoin?

There are a number of thoughts as to why Bitcoin made the move that it did. They are technical related and don’t involve a fundamental reason. The first is that there are bots on Bitmex that go hunting for stops. The bot utilizes inside knowledge of where the orders are clustered. If the bot can move the market to where the stops are, it can get filled.

The second is that yesterday was the expiration of the CBOE futures contract. I am an ex-futures trader (now crypto) and know that expiration days can see some crazy moves. This is because it’s the last day to close a position on that futures contract.

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Bitcoin

XRP Rally Lifts Bitcoin and Ethereum

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XRP rally
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It’s quite surprising to be writing this, but the XRP rally lifted Bitcoin and Ethereum off yesterday’s lows. As I wrote yesterday in covering Bitcoin, my bullish enthusiasm was dampened by Bitcoin’s $300 drop. XRP rising has given renewed hopes that the lows for the year are in and higher prices are ahead.

XRP Rally

The most frustrating part about the XRP rally was the news put out by our competitors. We read the XRP rally was due to xRapid launching soon and also that a major Saudi Arabian bank had joined the Ripple network for international payments. I’ve been trading cryptocurrencies long enough to know that no one knows the exact reason why something happens in the market. This is a major buy spike that came out of left field.

Bitcoin

I am certainly feeling better about Bitcoin now than I was 24 hours ago. The lack of volume and the price action felt like the market was heading lower. Today, however, we are back around the 6350 levels.

The problem is that it still not enough to make me buy more Bitcoin. We are still in the middle of the range between 6100 and 6500. This neutral zone is not an area that I want to be putting on trades. Yesterday’s jump was indeed positive, but need proof that it was not…

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