Will Verge (XVG) repeat Q4 2020 and Q2 2021 price pattern?

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

Launched in October 2014 as DogecoinDark (DOGED), Verge was a fork of Peercoin (PPC). In February 2016, the project was rebranded to Verge Currency to distinguish itself from Dogecoin and to appeal to a broader market.

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

Biconomy has listed XVG token

On March 15, 2024, Biconomy listed Verge (XVG) for spot trading with the XVG/USDT trading pair. This listing marked a notable moment for Verge, as it opened deposit and withdrawal services for XVG at 12:00 AM (UTC) on the same day.

The listing on Biconomy represents an important step in increasing Verge’s market presence and accessibility.

The price of XVG saw a significant surge in early April mainly because of the impact of the Biconomy listing but has since experienced a significant drop over the past twelve months. The token hit a high of $0.01241 on April 3, 2024, before the market turned bearish, which has been the trend up to now.

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

Some analysts speculate that Verge might be on the brink of a significant 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 defining features of Verge is its commitment to protecting user anonymity while using an open blockchain. The cryptocurrency achieves this by incorporating secure protocols such as TOR (The Onion Router), I2P (Invisible Internet Project), and its unique Wraith protocol.

TOR and I2P are anonymizing networks that obscure 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 made with enhanced privacy.

In terms of technical specifications, Verge is based 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-focused cryptocurrency, leveraging advanced technologies to protect 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.

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