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Why Verge (XVG) Price Climbed 800% In 7 days?

Dec 21, 2017 Posted /  11932 Views

Why Verge (XVG) Price Climbed 800% In 7 days?

December 2017 has been an exceptional month for cryptocurrencies. Bitcoin is approaching $20K and after the launch of bitcoin futures trading on CBOE and CME, it is expected to grow further. It is notable here that as a consequence of this unprecedented growth in the value of Bitcoin, altcoins like Litecoin, TRON, Cardano, Bitcoin Cash, and QTUM have also experienced substantial growth to hit record highs.

One more coin that has been moving extraordinarily since last week is Verge (XVG).

Explaining the new currency called Verge

Verge a blockchain-based cryptocurrency is known for its weighing stress to publicize itself as more secure and anonymous currency and designed with a focus on increasing privacy and daily usage. It utilizes manifold anonymity-centric networks, which confuses and interchanges the IP addresses to make transactions imperceptible.

According to the official website of the currency, Verge's aim is to empower individuals around the globe by fetching blockchain transactions into daily life. Verge currency ensures uninterrupted and quick transactions along with high efficiency and complete anonymity. With Verge currency, businesses and individuals have flexible options for sending and receiving payments. With the flip of a switch, the company offers helpful integrations and tools that enable them to handle large-scale transactions between merchants and small-scale private payments.

In a comparative analysis of Bitcoin and Ethereum of the past month, wherein transactions speeds have paused considerably under new strains, Verge utilizes 'Simple Payment Verification' (SPV) technology to keep confirmation times to around 5 seconds on average.

Verge is centered on a policy of extreme transparency and openness. Unlike many blockchain-based cryptocurrencies/projects, Verge is basically not a private company funded by pre-mined coins rather it is an open-source platform, and the team which is credited for the development of this currency upholds an open-contact strategy with the diverse members of the Verge community to field, hold up, and implement new ideas about the Verge network.

On December 12, XVG sold for $0.009336 USD, according to various price indexes. However, on December 19, that number was $0.07472, an augment of 800 percent. At the time of writing this article, the price of the currency was $0.124294.

The Bitcoin’s value growth in the last month has impacted digital currencies across the ecosystem. New and potential investors are being witnessed by the market, especially the top and the most popular cryptocurrency brokerage firms, admit that they are adding around 100,000 new users per day.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: Cryptocurrencies XVG Verge coin new market cap

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