Verge (XVG) is making its return above the 20-cent mark today. At the time of writing, this altcoin is trading at $0.206 a piece. Just a couple days ago, it was trading at around 14 cents. Compared to 24 hours ago exactly, this cryptocurrency’s price has jumped about 41 percent higher.
Looking back at the past week, however, Verge has slumped. Since exactly seven days ago, its price has fallen by about 14 percent. On Christmas Eve, it was trading higher than 25 cents.
Regardless of its week of ups and downs, this crypto-coin has still skyrocketed in value recently. It was trading under a penny at the beginning of December. In the past 30 days, it has surged nearly 3,500 percent higher.
Why is Verge (XVG) Such a Strong Cryptocurrency?
With around $3.0 billion in net value, this digital currency is currently the 16th most-valuable on the crypto market. Just behind it is Ignis (IGNIS) with $2.6 billion in market value. Bitcoin Gold (BTG) is more valuable, with $4.2 billion in net worth.
But how has this crypto-coin managed to climb to such a high spot on the charts? For one thing, it has been attracting a lot of privacy-focused investors. Bitcoin (BTC), while it has been able to maintain its number-one spot for quite some time, isn’t completely anonymous. This has caused a lot of up-and-coming cryptocurrencies to try and improve their blockchain’s anonymity.
Verge does exactly this. Rather than just using temporary addresses like Bitcoin (BTC), this coin utilizes more than one anonymity software. Its transaction verification speeds also beat Bitcoin’s hands down.
With a few basic features already superior to Bitcoin (BTC), investors have been taking it seriously as a top altcoin contender. We are certainly convinced.
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.