Here's Why Verge (XVG) Could Overtake Monero (XMR) - Global Coin Report
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Here’s Why Verge (XVG) Could Overtake Monero (XMR)

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Verge vs Monero

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?

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

Altcoins

3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Bitcoin

The Pros And Cons Of Cryptocurrency

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cryptocurrency

Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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Bitcoin

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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