Verge (XVG) Hovers Around $0.05, but Project Continues to Develop

Published on 12 February 2018 by Cryptovest Staff

Europol: Cryptocurrencies Help Launder 3% to 4% of Illegal Money

The Verge (XVG) confidential crypto coin lost the spotlight for about a month now, as the price has slid lower and hovers around $0.05. But at this point, optimism may be returning to XVG. The asset failed to deliver the expected update as the prices reached a peak near $0.15.

Europol: Cryptocurrencies Help Launder 3% to 4% of Illegal Money

At least in the past seven days, XVG has shown some signs of recovery and buying returning, especially when the prices bottomed out. Unfortunately, the release of the Wraith protocol about a month earlier has done little to create another price spike, and XVG has only kept a part of the gains.

At this point, XVG remains highly volatile, and nothing is certain about its price level. But in case confidence returns to the markets, XVG may benefit from being a rather low-priced asset on Binance, and with the potential to climb as high as $0.15 from the current levels.

The Risk of XVG

XVG has the great advantage of being a relatively old digital asset. The most recent exchange listing on CryptoEmporium is exposing the asset to a relatively unknown exchange.

#Vergefam, We are now supported on @CryptoEmporium_! $XVG https://t.co/yZYpHHzpeX — vergecurrency (@vergecurrency) February 12, 2018

In addition, the faked John McAfee accounts, and the fast rise after the promotion, may have tarnished for a long time. Other digital assets have risen to peaks in the past, only to spend years with very depressed price levels.

Soon, it would be a year since Verge rebranded itself from DogeCoin Dark, on 15 February 2016. Since then, the coin has moved to a whole new price range, unlike DogeCoin, which has returned under the one-cent levels.

The biggest challenge for Verge was the faked prognosis that it would reach $15, which led new buyers to bid the asset up to unsustainable heights. Still, at $0.05, Verge is far ahead.

The next few years would show whether the asset manages to attract more users. It is notable that assets like Monero spent years trading around $0.50 cents to $1, before reaching a peak at nearly $500. In the case of Verge, the long-term price range may be entirely different, depending on the conditions of the entire market.