Let’s take a closer look at XVG – what kind of cryptocurrency is it and what will its value be in the near future?
Until April 2018, only cryptocurrency experts knew about Verge coins. To remedy the situation, the developers resorted to aggressive marketing and entered into an agreement with the adult site PornHub.
Today we explain why Verge is not only useful but also a very promising crypto. You’ll learn whether now is a good time to invest in Verge or make an XVGBTC transaction.
What Is Verge?
According to all the canons of the crypto community, this blockchain aims to ensure the security and anonymity of transfers and user data.
Verge uses the Proof of Work consensus mechanism with the help of five algorithms:
Such a complex system is needed so that the network can adapt to the consumer. Depending on the computing power of the user’s computer and its settings, one or another algorithm is used. This flexibility helps speed up the network and reduce or optimize the load as much as possible.
Another reason for the introduction of such a large number of different algorithms is the unique Verge blockchain system. The bottom line is that each next block has a different algorithm from the previous one. For example, block N used the Scrypt algorithm. Then the N+1 block following it will use the Lyra2rev2 algorithm.
Such a system optimizes the creation of a new block, which takes 30 seconds, and also allows increasing the reward for a solved block. On the one hand, it’s good; on the other, it’s dangerous.
Essentially, Verge is a more private version of Bitcoin. Bitcoin does not protect the history of user transfers, leaving the ability to view the transactions of any wallet. This, of course, is a huge disadvantage for users who value privacy. In turn, Verge doesn’t have this problem.
XVG Price Performance
XVG entered the market in 2014 at $0.000007. Due to the relative immaturity of the project, the token’s price has witnessed only three cycles (one up and two downs). Most likely, the crypto finished its downward trend in 2022 and entered 2023 in the accumulation phase, which will soon be replaced by a significant pump. Today, the coin is worth almost $0.003, with a market cap of $48 million.
The largest value was reached in December 2017. Then it was $0.3 with a capitalization of $3.6 billion. The lowest was in February 2015 — about $0.000002 per coin.
What Is the Future of Verge?
According to the forecast and technical analysis of Cryptopolitan, Verge’s price is expected to hit a low of $0.001 in 2023. Yet it can still reach a local high of $0.005 by December. Experts believe that the average price will be $0.004.
The XVG price prediction for 2024 is at least $0.006. The rate can reach a maximum price of $0.01 with an average price of $0.008.
In 2025, the cost of Verge is expected to drop to a low price of $0.007. During the year, the chart could reach a maximum price of $0.01 with an average price of $0.009.
Is It Profitable to Invest In XVG Now?
Verge has prospects in the cryptocurrency market, but developers need to step up their game and keep making improvements to the technology. This way, the crypto will stay relevant and, therefore, profitable. At the same time, they need to allocate some time to solve the problem of scalability.
The project advertises the usual trump cards of cryptocurrencies: privacy, security, and decentralization. However, only those cryptocurrencies that offer some kind of revolutionary solution can get into the top 10 — and Verge has still got to work on that.
In general, it is worth investing in Verge only for the long term. It is unlikely that in the near future, XVG will bring its holders a lot of return.