Despite this cryptocurrency’s impressive gains last week, Verge (XVG) has ticked downward over the last few days. Between the 22nd and 25th of December, this coin was flying above the 20-cent mark. According to coinmarketcap.com, it even went over 28 cents for a brief moment on the 23rd.
But Verge has pulled back a bit since then. Beginning on the day after Christmas, its price has dwindled slightly to where it is now: $0.162. That’s still a 27 percent gain from 7 days ago. This coin’s monthly growth still stands at a stunning 2,765 percent!
At about $2.3 billion in total market value, this coin is currently the 21st most valuable. It’s location on the ranking is just behind TRON (TRX) and just ahead of ICON (ICX).
Take a look at this coin’s chart for the week (seen below). Verge (XVG) has bounced around the 15-cent mark for a few days now. At its current position, it may be presenting a solid entrance opportunity. Investors might be able to take advantage of its momentary price dip.
This is a very successful altcoin, and it’s been getting a lot of attention from cryptocurrency news sites. Is it a good investment today, though? That’s the question.
Can Verge (XVG) Reverse This Week’s Sluggish Growth?
This coin has many advantages over its fellow altcoins. Moreover, it has a ton of advantages over Bitcoin (BTC) – the head honcho. At $14,540.77 per coin, Bitcoin (BTC) is the highest-valued on the market. The next-closest on the ranking is Ripple (XRP), which is worth about a third of bitcoin’s market cap.
But even though bitcoin has controlled most of the market share, it has its problems. Transaction verifications are slow – and have limited capacity per block. Mining has also gotten a little overwhelmed.
Meanwhile, Verge (XVG) uses a combination of leading anonymity technology to make their transactions completely untraceable. This blockchain is fully private and anonymous. Its transaction verification speeds also leave bitcoin’s in the dust.
As a discount altcoin, compared to Ripple and Litecoin, this cryptocurrency may be the best altcoin pick this week. The growth potential is sky-high. We are definitely keeping our eyes on Verge (XVG).
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.