Verge XVG is a crypto that has exploded in the past. In 2017, it hit the headlines for its record earnings and the large number of partner projects. What remains today of Verge XVG, of its creator Justin Valo also known under the pseudonym of “Justin Vendetta” or “Sunerok”?
- Verge XVG is one of the cryptocurrencies that shaped the world
- XVG has often been considered a Shitcoin
- From Dogelon Mars to XVG, a rainbow of scammy projects
- The returns of the XVG, 5600% of gains and it continues
Verge XVG, The Origins of Crypto
Justin Valo is a veteran of the blockchain ecosystem. The latter closely followed the development of Bitcoin in 2011, then those of Dogecoin in 2013. He was even associated with the latter. In 2016, faced with the growing needs of different cryptocurrencies, he felt that none of the existing protocols made it possible to provide the public with fast and efficient decentralized payment methods while being cheap.
At the time, the only solutions that were present on the market were Monera and Bytecoin. However, the latter, although perfectly anonymous, cannot really provide efficient means of payment because of their functioning, the high value of tokens and the slowness of their networks. Relative slowness, of course, because Bytecoin transactions are fast. But not as fast as those in Verge XVG.
The vision developed in Verge’s “black paper” promotes a cryptocurrency complementary to Satoshi Nakamoto’s bitcoin. By creating verge, Justin Valo wants to create a currency that is both decentralized and powerful while being highly anonymous.
A Very Anonymous Cryptocurrency
This is why the Verge uses the resources of one of the references in terms of online anonymity, the Tor network. Transactions that go through the XVG network are then aggregated into the Tor network. The latter works by dividing up the various transactions and by redistributing the requests after passing through a sort of marshalling yard that makes it impossible to trace a transaction from start to finish.
This set of factors had everything to make Verge one of the leaders in anonymous and secure transactions in the blockchain and crypto ecosystem. However, the corner fell into oblivion after generating a great deal of excitement during the bullrun of 2017. At that time, the coin had experienced a tremendous rise, going from an almost zero value (0.000024 dollars) to 26 cents, or a multiplication by 10,000. This type of feat is not without recall the ups and downs that tokens like Dogecoin and Shiba Inu have been experiencing lately. However, unlike these projects, we can underline the power of development and the deep desire of the creators of Verge to offer the community a functional token that serves a specific purpose.
Verge Currency, Shitcoin?
Today, we tend to place all the coins familiarly called “shitcoin” in the same category. But in shitcoins, the spectrum is wide, from a March Dogelon to a Verge or even a Dogecoin. The rise of tokens built on the Binance Smart Chain BSC blockchain has made it possible to build a multitude of tokens in a very short time. And often, behind these cryptocurrencies, there is only a poorly designated site, almost no information, no whitepaper. It’s not even shocking. So much so that we can read on some investor forums on Dogelon Mars comments such as
“I really want to invest a lot of money in it. It seems that you can get rich very quickly. But at the same time, I see that there is no white paper. However, I was told that it was very important for a project to have a whitepaper. Advices ?”
Often the only answer is “Dogelon to the moooon”
from 2017 to 2021, Different types of Shitcoin
We must therefore distinguish between the different shitcoins. While some are deliberately scams whose only value lies in the naivety of investors, others have solid foundations and respond to clearly defined problems.
This is the case with Verge XVG. The latter fell into the oubliettes of the chateau de Montmirail. But he is not dead. Far from there. Still ranked 156th of the largest market cap on Coinmarketcap, the token has followed a classic correction path since the ATH of January 2018. And this chart should be of interest to more than one trader. Because it is largely similar to what experienced in another timescale the Dogecoin.
Why did Verge XVG survive?
With a strongly marked peak in 2018, the coin could simply have fallen to 0. However, the use that persists, as well as the miners who continue to support this network, have allowed this cryptocurrency to survive. These are not things to be taken lightly. In a project, in a cryptocurrency, the fact that people believe in it, that people use it, is essential. In this case, these factors allowed the XVG verge to survive the nuclear winter of cryptocurrencies.
Recently, the Heartbeat of the Rod has started to move again. During the mini bullrun in the month of May, we were able to see life come back to this little corner. After having found the bottom of the cows at 0.0015 dollars, it took again the direction of the sky to finish a first bullish wave at 8 cents, that is to say an increase of 5,397% in the most total silence.
What future for Verge XVG?
Like its congeners, the Verge XVG corrected between the month of May and the month of September. A new base was found, this time at 1.6 cents. Since May, XVG has been locked in a compression triangle. A figure observed on many graphs. But the Verge recently made a bullish breakout of this triangle. Which is a major buy signal.
Price of the Verge XVG against the Dollars
The next goals for the price of the XVG? Besides the recent ATH at 8 cents and the historic ATH at 26 cents? Well the price projections, according to the Fibonacci ratios, place a maximum objective at 1.10 dollars… That is to say a gain of 3,732%.
Created among the first corners with a powerful vision instilled by its creator, the Verge surprised many people during the bullrun from 2017. This corner has survived. It evolves in the shadows, in 156th place in the crypto ranking. And he might still have some potatoes in reserve. With amazing performance, this little token deserves to stay on your watch list… To see the train you’re passing by!
