Verge (XVG) Price Analysis: Brief Fluctuations in Verge’s Price Lowers Market Trend
Verge cryptocurrency, introduced in 2014, aims at improving the anonymity of transactions provided by Bitcoin, which holds the public keys of the sender as well as the receiver along with the amount transferred during the transaction. Though the transactions do not reveal the stakeholders’ identities, past buying patterns, account balance in the wallet, these details can still be tracked. Verge’s network makes it useful by securing these details and providing more anonymous transactions and keeps the ledger of transactions public. It uses advanced technologies such as TOR browser, I2P protocol, and Wraith Protocol to mask the identities and facilitate faster transactions and supply of coins by large margins. There is a maximum fixed supply of 16,555,000,000 XVG coins in the market.
Current Market
Verge (XVG) is getting traded at 0.009851 USD on April 10 at 13:39 UTC. Based on the Mcap value of USD 156,419,411, Verge is ranked the 49th cryptocurrency in the market. The market value is influenced by the circulating supply of 15,878,370,152 XVG coins and the 24h volume of USD 6,625,750. The approximate return on investment is evaluated by Coinmarketcap and is estimated to be cross above 9000%.
Expansion on Market Trend
Verge is a highly volatile cryptocurrency with major variations in values. Although there were major dips, the market, on the whole, has been on an uptrend. Verge was also influenced along with its counter cryptos by the price hikes taking place across the crypto market during the first week of April 2019. The first escalation was from Mcap value of USD 116,858,984 and the corresponding trading price of 0.007367 USD on April 02 at 02:39 UTC to its relative values of USD 146,382,910 and 0.009226 USD on April 04 at 02:39 UTC. The values rose by 25.26% and 25.23% respectively. The values further peaked to its all-time high on April 08 at 12:39 UTC with the Mcap trading at USD 172,505,591 and the selling price of XVG per coin at 0.010567 USD. The current price of XVG devalued from its peak by 10.71%.
Price Prediction
Verge’s price predictions can be achieved if the volatility of the cryptocurrency is subdued. Crypto analysts estimate a hike in the price of XVG by the beginning of 2020. The Price would increase by 188.51% reaching 0.0285 USD and further is expected to increase by 1569.59% by 2024, reaching a value of 0.1651 USD. There are estimations with XVG reaching 0.2069 USD by the end of 2024.
Conclusion
The current market is advantageous to the traders. Their short term plans will earn huge profits with these fluctuating prices. As per future predictions, once the market stabilizes, investors can step in to reap their rewards.
