Verge Currency (XVG) Recorded A 61% Rise In June 2020 Despite Covid-19

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • With the supply capped at 16.5 billion XVG, it has outperformed Cardano and TRON privacy coins. There are only 50 privacy coins out of which XVG tops the list.
  • Verge hit its high on 17th June at $0.0099 following which it fell to $0.006 over the next seven days.
  • A price surge was noticed on 30th June when it was about to breach $0.0078 with a lot of expectations.

With the advent of privacy coins, transactions are completely private. The privacy coin uses a ledger that obfuscates the path of the transaction. It helps the prevention of data theft with Ring Confidential Transactions (RingCT). Additionally, it allows you to hide the amount of your transaction and a discreet way of sending funds. Verge (XVG) is regarded as one of the fastest-growing privacy coins as it grew over 61% in June 2020. It uses Tor and I2P as network layers that enable smooth handling of transactions.

Verge (XVG) Technical Analysis

With the supply capped at 16.5 billion XVG, it has outperformed Cardano and TRON privacy coins. There are only 50 privacy coins out of which XVG tops the list. Verge hit its high on 17th June at $0.0099 following which it fell to $0.006 over the next seven days. One of the major factors to be taken into account is that the team does not hold a major part of the supply. It is mainly because of the absence of a pre-mine or ICO that could have affected its growth adversely.

Verge xvg

 

As it will reach its maximum supply within the next 5 to 7 years, Verge XVG has shown the growth potential. A price surge was noticed on 30th June when it was about to breach $0.0078 with a lot of expectations. The bull-run towards $0.01 was consolidated within the last week of June in itself.

A digital coin with a bright future

Currently trading at $0.00655, it is now a question of patience among investors. Although, it won’t reach a $1 mark anytime soon the future is not dull for the privacy coin. It is rated A+ on the historical index prediction.

The team at Verge is developing a new blockchain if a source is to be believed. Lastly, its relationship with TokenPay sees a surge in demand for the better that should drive the price upwards.

TokenPay assures that a debt released by them can be covered by XVG. Nonetheless, the establishment of smart contracts within the blockchain technology will cement its position in the list for the best privacy coins for investment purposes.  

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