Bittime - The price of the Verge (XVG) crypto has been shooting up recently. In the last 24 hours alone, the price has gone up 13.71%! This rise put XVG, Verge's native token, back in the spotlight in the crypto world.
Its market capitalization also jumped to $152 million and ranked it #356.
Verge, Crypto that Prioritizes Privacy
Verge is a decentralized blockchain and cryptocurrency that prioritizes the privacy and anonymity of its users. Built on the principle of leveraging Bitcoin (BTC), Verge adds extra privacy features.
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For example, they integrated the Tor anonymous network into their wallet, vergePay, and offer the option of sending transactions to a secret address.
The soaring price of XVG was driven by renewed interest in privacy-focused cryptocurrencies. More and more people are concerned about the privacy of their data in the online world, and cryptocurrencies like Verge offer a solution.
Analysis: Future Potential of Verge
Crypto analysts are starting to pay attention to Verge's movements. AltCryptoTalk, a well-known analyst, commented that XVG quickly reached its second target of $0.01 in just a few hours. This made many people look for long-term investment opportunities as the price corrected slightly to $0.0075.
Also read: 10 Interesting Facts about Verge (XVG)
Another trader, JAVON MARKS, is optimistic about Verge's potential. He estimates that the price of XVG could rise another 618%, up to $0.067697. This prediction is in line with bullish sentiment (expected price increases) towards privacy cryptos in general.
Verge Trading Volume Skyrockets
Apart from the price increase, Verge's trading volume also increased drastically. In 24 hours, the figure rose 416% to $219 million. This increase in trading activity further shows the high level of interest in Verge.
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The Future of Crypto Privacy
This huge new interest in privacy crypto is the main cause of Verge's price increase. With increasing public awareness of the importance of data privacy, cryptocurrencies that prioritize this aspect are predicted to continue to be in demand in the future.
While the crypto market is notoriously volatile, the renewed interest in Verge shows that the privacy crypto sector has the potential to continue to grow and become more widely used in the future.
Also read: What is Privacy Coin and How is it Different from Bitcoin?
What is Verge (XVG)?
Verge (XVG) is an open-source decentralized cryptocurrency that promises completely anonymous transactions. They hide the location and IP (Internet Protocol) address of the user making the transaction. XVG, Verge's native token, can be bought and sold on various leading crypto trading platforms.
Verge was born in 2014 with the name DogeCoinDark. However, the name was changed to Verge in 2016. Initially, DogeCoinDark was a fork of Dogecoin which was specifically designed to offer anonymity, different from Dogecoin whose transactions could be tracked.
Verge falls into the “privacy crypto” category along with Monero, Pivx, and Zcash.
Verge Goals (XVG)
Verge seeks to address the issue of user anonymity with a technical approach. They don't rely too much on cryptography, but instead utilize existing and tested TOR and I2P networks to protect user identity.
The founders of Verge argue that an open blockchain is needed so that participants can verify their transactions, and also so that other participants can authenticate and verify the overall development taking place on the blockchain without needing to know the participant's identity. Verge's implementation allows them to achieve both of these things.
Verge's anonymity is cited as the main reason the adult website network began accepting crypto payments exclusively in XVG in April 2018. As of September 2021, Verge is ranked 152nd on the list of cryptos by market capitalization.
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Conclusion
Verge is an interesting cryptocurrency that offers high privacy to its users. Verge's recent price rise reflects a renewed interest in privacy crypto.
However, it is important to remember that investing in crypto carries high risks. Always do your own research before deciding to buy Verge or any other cryptocurrency.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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Advantages of Verge (XVG) Compared to Other Cryptocurrencies
Opportunities and Risks of Verge (XVG) This Week, Read the Explanation!
Happy! Verge (XVG) Officially Enters the List of Cryptos that Comply with ISO 20022
What Is a Privacy Coin? These are 12 Privacy Coins that You Need to Know!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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