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John McAfee’s Comment On Verge (XVG) Leads To Massive Price Surge
John McAfee, the founder of the McAfee antivirus gave his thoughts about various cryptocurrencies last week, including Verge (XVG), Monero and Zcash through Twitter’s microblogging platform. However, his tweet about Verge seems to have been quite weighty because the price of the altcoin ended up doubling overnight.
“I am inundated by people asking me for recommendations on cryptocurrencies. If you would use your heads you would figure out that the privacy coins (anonymous transactions) will have the greatest future. Coins like Monero (XMR), Verge (XVG), or Zcash (ZEC) cannot lose,” stated McAfee in a tweet.
I am inundated by people asking me for recommendations on cryptocurrencies. If you would use your heads you would figure out that the privacy coins (anonymous transactions) will have the greatest future. Coins like Monero (XMR), Verge (XVG), or Zcash (ZEC) cannot lose.
— John McAfee (@officialmcafee) December 13, 2017
The cybersecurity guru’s tweet seems to have created a big impact considering the fact that the price of Verge went up by 100 percent. It also highlights the fact that McAfee has some influence in the cryptocurrency community. He has been known to be quite vocal about cryptocurrencies and is especially biased towards digital currencies that are focused on Privacy, such as Verge, Zcash, and Monero.
Zcash and Monero are top performers in the cryptocurrency game as far as market cap is concerned. The fact that he mentioned them together with Verge seems to have encouraged a positive investor outlook on Verge. The price of the digital currency went up from $0.009367 on December 13th to $0.131282 on December 20th. Verge currently has a market cap of $1,897,663,154 and is currently holding down the 20th position in the cryptocurrency ranking.
It is interesting that McAfee believes that cryptocurrencies that focus on privacy will emerge on top in the future. Such currencies have been growing more popular but then again the future is full of uncertainty. It is also a bold claim especially considering that governments from all over the world are trying to get some degree of control over cryptocurrency transactions. This is one of the reasons why some digital coins focus on privacy.
Meanwhile, the security guru also described XVG as one of the best altcoins to purchase currently. However, he also advised investors to be careful when selecting the altcoins they want to invest in because there is a lot of risks involved. As for Verge, its recent surge was quite impressive but it is also worth noting that it also tanked slightly after that. However, investors are watching keenly to see how the digital currency will behave especially now that it has been tossed into the spotlight by McAfee.
McAfee has also talked about Bitcoin in the past and even went as far as stating that the price of bitcoin will go up to $1 million. However, a lot of people believe that that forecast might be too ambitious.
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 Gage Skidmore via Flickr
BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.
Binance Coin Outlook
BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.
Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD) on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.
The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…
Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
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