Verge XVG: price and technical analysis | Bullbear Analytics

Currency name(s):  Verge (XVG); first launched in 2014 under the name of DogeCoinDark, but the team behind this currency decided to rename it in 2016
Genesis Block: October 9th, 2014
Total Supply:  ~16.5 billion; 15.7 billion is currently in circulation
Algorithm: Supports multi-algorithm and uses 5 different algorithms in total: Scrypt, X17, Lyra2rev2, myr-groestl, blake2s
Features:  anonymous, community-driven, fast, direct, fungible

  1. What is Verge?

    Verge is essentially a cryptocurrency that was conceived to be used every day, in a similar manner to how standard fiat currencies are used. It started with the implementation of the original Bitcoin blockchain, and the Verge network relies on that core idea today – to have a decentralized, efficient way to make purchases and other kinds of transactions without compromising the privacy of its users. There is another feature that the Verge network adopted from Bitcoin: it still relies on the idea that all transactions should be stored permanently on its blockchain and, once they are completed, they are visible to the public using the network. This is why the Verge network is said to be a fork of Bitcoin.

    However, the sender’s and the receiver’s addresses themselves are not generally visible, so it can be said that this network is anonymous. Also, the purpose of the Verge network is to complete transactions over the web quickly, reliably and with ease for a very small fee, and the mission of the team behind it is to make Verge accessible to as many people around the world as it can be used on a daily basis.

    Although the Verge network is based on Bitcoin blockchain, we can say that this network actually has benefits similar to the Monero network (shorthand for Monero currency is XMR), meaning that both Verge and Monero networks support anonymous transactions. However, we have seen in our Verge technical analysis that the Monero network may provide more anonymity for its users, but the Verge network is definitely easier to use.

  2. Technology

    While performing Verge technical analysis, we noticed that what makes Verge unique is its ability to be fungible, which cannot be said for a lot of other cryptocurrencies, Bitcoin included. In essence, being fungible means that the Verge network cryptocurrency is interchangeable, and one Verge unit holds the same value regardless of who holds it or where it is located. In simpler terms, one Verge unit acts as a banknote, meaning that one US dollar is valued the same as another note of one US dollar.

    The transactions themselves use dual-key stealth addresses as well as Ring Signatures. This means that, in order to keep both parties’ privacy in a transaction hidden and secure, the Verge network operates in the following way: the user’s information is routed through a number of randomly chosen servers located around the world. After one server receives the information that a transaction is being made, it removes the information of the previous server. This is done multiple times, and as a result, the end server which completes the transaction does not know where the funds came from. Another layer of privacy comes from the i2p technology the Verge network has implemented, which further encrypts the signal sent from one user to the other.

    Similarly to Monero, Bitcoin and Dash, Verge also uses Ring Signatures for verifying the users within its own network. The Ring Signature protocol is very complex in its nature and application, but it is also useful for authorizing transactions within a group of users and it operates in the following way: out of a group of 50 users, 2 want to make a transaction to one another. Instead of the sender directly signing the authorization for the transaction to commence, the group signs the authorization thus hiding the linkage between the sender and the receiver.

  3. Verge Markets

    Even though recent market fluctuations occurred, our Verge network market analysis shows that this cryptocurrency has come a long way from its initial launch in October 2014. The price at its launch was only $0.000007 per one coin, and the lowest price ever recorded was even lower than the initial one, during February 2015. However, during the price boom in December 2017, the price recorded was at an all-time high, and one Verge could be bought and sold at around $0.3. The point to note is that early adopters have seen a 90x return or more on their initial investment.

    The Verge network market cap is today valued at approximately $145 million, and all major markets support Verge trading. Investors can buy and sell their positions at Bittrex, Bifinex, as well as Binance, and can either trade both with fiat currencies and other cryptocurrencies such as Ethereum, Bitcoin or Litecoin.

  4. Verge Trading

    Currently, the price is sitting at $0.009, so at the moment interested investors can buy it cheaply and hold it, as the prices are expected to rise. The best holding position for this cryptocurrency is medium to long due to its price and the fact that markets are turning to those cryptocurrencies which guarantee anonymity on their networks.

    As the anonymous cryptocurrencies have become highly competitive, healthy competition has been created and many cryptocurrencies are working hard to bring new and better solutions to their users and investors. Verge is no exception, and with direct competition from Monero and Dash among others, many investors follow recent developments regarding anonymous cryptocurrency networks.

  5. Verge Charts & Technical Analysis


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