Verge (XVG) Never Stops Booming, Revisits Peak?
In the past days, XVG seems set to repeat its January record as the asset doubled its price in a few short days.
Verge (XVG) continued its boom by growing more than 29% in a single day, while the markets remained either flat or sinking. XVG reached $0.087, and has grown more than 64% net since last week. The growth is dizzying, given that XVG was considered a defunct asset with no future, after its price dropped in February.
XVG trades at a slight premium of $0.089 on Binance, where most of its trade is still concentrated, but Asian trading is giving the asset a boost almost every day.
But XVG is also one of the projects making forays into the mainstream, similar to NANO (XRB). Even the rogue mining attack did not manage to tank the price, but for XVG, the hype is set to continue until April 17.
Now, Verge seems to be on the rise again in terms of acceptance and publicity, after a few relatively unsuccessful months. The main engine behind the project are the regular fundraisers, which sometimes raise doubts, but also serve to fund development. After a speedy security update, the Verge team is getting more appreciation, pointing to Verge being a strong project for its intended purposes of mass adoption:
Verge solves vulnerability in record time!https://t.co/cdcrdVE0pJ— vergecurrency (@vergecurrency) April 9, 2018
At this point, it is hard to estimate the value for Verge, or whether the rise in XVG would continue. It must be remembered that the current rise is happening on volumes that are up to 10 times smaller than those of the rapid buying in December and January.
The XVG digital asset is, for now, safe from attacks. But for popular coins, attacks of over-active mining, or concerted efforts to mine by secret ASIC devices, may become a problem. The most recent case of unannounced ASIC activity was Monero (XMR), where the hash rate fell by 80% after a hard fork, making the machines obsolete.