Verge (XVG) Price Prediction: Is XVG a Good Investment in 2024?

Verge (XVG) is a cryptocurrency that has steadily garnered attention since its inception, particularly for its focus on privacy and decentralization.

Privacy-centric cryptocurrency Verge (XVG) has gradually gained attention since its launch. Here's a closer look at the token and some recent developments.

Launched in October 2014 as DogecoinDark (DOGED), Verge was a fork of Peercoin (PPC). The project was later rebranded to Verge Currency in February 2016 to differentiate itself from Dogecoin and appeal to a wider market.

Despite the rebranding, Verge continues to use the same underlying technology as its predecessor.

Biconomy lists XVG token

Biconomy announced the listing of Verge (XVG) for spot trading on March 15, 2024, with the XVG/USDT trading pair. This listing also saw XVG deposits and withdrawals open at 12:00 AM (UTC) on the same day.

The listing on Biconomy marks a significant step in expanding Verge's presence and accessibility in the market.

Following the Biconomy listing, XVG's price experienced a notable surge in early April, largely due to the impact of the listing. However, the token has seen a significant drop over the past twelve months.

The token reached a high of $0.01241 on April 3, 2024, before the market turned bearish, which has continued to be the trend up to now.

At press time, Verge (XVG) is trading at $0.003686, showing a decrease of 11.0% in the past 24 hours and a drop of 27% over the past year. The token is still trading 52,445.39% higher than its initial price.

Some analysts believe that Verge is on the verge of a major price movement, potentially mirroring the dramatic rise observed between Q4 2020 and Q2 2021 as shown in the screenshot below.

Observers suggest that a 10% to 15% increase in price could be imminent as we move into Q4 2024.

Features that could push Verge price higher

One of the key features of Verge is its focus on protecting user anonymity while using an open blockchain. The cryptocurrency achieves this by integrating secure protocols like TOR (The Onion Router), I2P (Invisible Internet Project), and its unique Wraith protocol.

TOR and I2P are anonymizing networks that hide users' IP addresses and transactions, while the Wraith protocol allows users to choose between a public or private distributed ledger. This combination of technologies ensures that Verge transactions can be conducted with enhanced privacy.

In terms of technical specifications, Verge is built on the Bitcoin (BTC) source code but has implemented modifications to improve upon the original Bitcoin blockchain.

Verge continues to position itself as a leading privacy-oriented cryptocurrency, utilizing advanced technologies to safeguard user data while aiming to offer a more efficient alternative to Bitcoin.

With recent developments like its listing on Biconomy and potential for future growth, Verge remains a project to watch in the evolving cryptocurrency landscape.