One thing we all like to do is speculate on the price of your favorite cryptocurrency. Today, we’ll have a look at Verge, an open-source privacy coin. What marks as one of the coins that brought in the biggest returns in the 2017 bullrun, Verge has ever since sparked some controversy all across the board. From controversial ways of promoting their product to having a single developer on the product for a long period of time.
Nowadays, Verge is focusing even more on the privacy side of the coin. Whether this works in their favor in the upcoming future is what we’ll find out today.
What is Verge (XVG)
When searching for the answer to this question, Verge themselves claim to be the following;
“Verge is a cryptocurrency designed for people and for everyday use. It improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining your privacy.”
Originating all the way back to 2014 as a fork of the ‘memecoin’ called ‘DogeCoin’ under the name of DogeCoin Dark, later to rebrand to Verge. It has been created with the purpose of striving for maintaining maximal privacy for their users. This is being done with the use of the TOR network in combination with an anonymous network layer I2P to hide most of the personal details.
Think of performing a transaction without having to disguise your IP address, thus your location or identity. Within the original Bitcoin whitepaper, these claims were made and privacy for the users was one of the major points to achieve. As of today, the Bitcoin blockchain can be traced back to a specific person if this person in question has done no effort of disguising their identity.
With Verge, any person can perform a transaction in a fast and reliable manner in a completely private manner. The Wraith Protocol allows users to switch between a private and a public version of the Verge Blockchain.
One thing that makes the Verge protocol unique and in most eyes more reliable, is the fact that it’s an open-source project. It has been created as an open-source project with no coins that are pre-mined by the core developers or an ICO that was ran. By doing so, anyone that’s interested is allowed to contribute to the project as a developer.
Whenever you feel like supporting the project, although you’re not as technical, the project is receiving donations to fund the core developers of the project. One of them is Sunerok, Justin Vendetta, an American fella that has been dedicating the past five years of his life to the project.
To some people having a ‘typical’ programmer as the face of the project is what’s holding them back from being taken seriously, to others it’s what’s validating the open-source mentality. Verge has had an interesting run so far, which makes the future extremely interesting to look at.
Verge (XVG) Price Prediction 2018
As mentioned before, Verge was created back in 2014 after successfully forking from the ‘DogeCoin’ blockchain under a more privacy centered alternative. After being in the shades of the DogeCoin, Sunerok figured that there’s more to achieve under their own name, thus Verge being born.
In terms of price, there was no sign of life up until late 2017. In fact, March 1st, the price for one XVG compared to BTC was just 1 satoshi. This sparked the interest of many people, a low price with tons of coins to purchase. With a sudden flood of fresh and new investors, all eyes were reaching towards Verge.
The coin was extremely cheap per coin compared to Bitcoin making it the perfect buy for many people. With this interest, the price actually went into an actual moon-mission. From 1 satoshi all the way up to its all-time high around 2000 satoshis. That’s a 2000x increase from your investment in just a couple of months. To put that into perspective, if you had put in ‘just’ $500 dollars, you’d be walking away with a million dollars if you managed to sell the top.
Like most projects that saw their price having an amazing spike like this, the team behind it had no idea how to keep up with all the expectations and sudden attention. Every day there were new announcements made with at one point even John McAfee shilling the projects towards his thousands of followers. Unfortunately for the Verge investors that were holding on to their coins, the price of their beloved tokens took a nosedive straight after.
Where Technical Analysts were calling the price to reach $1 dollar at one point, secretly we all knew it was too good to be true. At one point, the biggest Youtubers were all shilling Verge to their followers, that was probably the biggest sign to get out.
As an ultimate attempt to gain back the trust of their followers and of the overall market after decreasing in value and attention like they had been the past months, Verge made an announcement. They shared the news that the biggest partnership ever made with any company outside of the industry was to be announced.
They had done something that no other cryptocurrency had managed to pull off before them, they had done something that would cause the adoption many people were calling for over the past years. In reality, their announcement was big, but it didn’t do much for their project.
The announcement was a partnership with Pornhub, one of the biggest porn websites in the world. So, if you’re looking for a premium subscription to one of the biggest adult sites out there without anyone finding out, use Verge.
Verge (XVG) Price Prediction 2020
A couple days ago, the 5th of October, was the 5 year anniversary for Verge. Within five years they have built a product that’s being used, or at least known, by thousands of people across the globe. This is quite remarkable, to say the least, but their price has been steadily decreasing ever since May 2018.
At this point, the price is back to just a couple cents in dollar value and 44 ‘satoshis’ worth in comparison to Bitcoin. This brings the coin back to where it had been a couple years ago in terms of price. Meanwhile, though, the project has managed to improve their presence to impressive numbers.
With a social media following of more than 300,000 followers on Twitter, a Reddit sub with over 50,000 people and 30,000 ‘likes’ on Facebook. These are the numbers that only the top-projects out there are currently capable of reaching, some of them are far behind that number.
As we’ve seen in 2017, the masses follow each other and have the ability to pump up the price of a coin to enormous heights. That being said, once Verge as a project brings some exciting news and big releases, their followers might be incentivized to start sharing this news and the marketing machine starts working again.
The big question here is, will they be able to create the announcements that will attract new investors? When looking at the current roadmap, there are just three updates listed. The release of the Desktop wallet, an update to the Android wallet and RSK Smart Contract integration. The first two points will probably not contribute anything spectacular to the project, although the integration of smart contracts, could mean there’s more to Verge than there is now. If 2020 will be the year we’ll see these developments is up for question.
Verge (XVG) Price Prediction 2021
With the speed of development, Verge has not done that well over the past five years. The project has done some good work and has achieved some major milestones, but honestly, it’s not unique. The problem with an open-source project like this, there’s no direct incentive for developers to work or contribute to the project.
With more centralized projects, developers are simply paid huge amounts of cash to work hard, with Verge that’s a different story. Anyhow, there’s a solid team of developers steadily working and contributing to the project. With this in mind, 2021 will probably see Verge running smart-contracts on their platform successfully.
With this, suddenly there’s an opportunity for projects to build their applications on top of the Verge Blockchain. With privacy-focused decentralized applications on top of the Verge Blockchain, we could just see Verge gearing up for another moon-mission. Let’s see where we’re at right now.
- Market Cap: $59.855.668 USD
- Circulating supply: 15.984.790.939 XVG
- Total Supply: 16.555.000.000 XVG
As we can see in the numbers above, the market cap for Verge is not that impressive. ‘Just’ 60 Million is achievable for any decent payment processing company. In comparison, VISA has earned 10 Billion US Dollars in 2018 alone. To say that there’s room for growth in the cryptocurrency industry is an understatement.
With the rise of digitalization spreading and becoming more dominant, the use of cryptocurrencies will not be as spectacular as we see it today. Verge comes in when there’s a demand for more privacy. The moment there are actual applications build on top of the Verge Blockchain, is when real value is around the corner.
To say if we’ll see prices reach as high as 0.30 cents again, that’s difficult to tell. Do you need to buy Verge right now? That’s upon you to decide, we do not want to give any financial advice, that’s for sure.
Verge (XVG) Price Prediction 2025
Alright, the ever-changing cryptocurrency environment has had its time to develop for more than five years and in 2025, Verge will be celebrating their 11 year anniversary. To look back and see that the team has managed to open-source build a project of this size, brings hope for the future. It brings hope that in the upcoming six years there’s a lot more where that came from.
In terms of deflation/inflation of the coin, there’s not that much XVG left to be mined. There’s ‘just’ 600 million XVG to be mined. This indicates in the coin becoming more scarce over time and in a general sense, that would mean the price to move up from there. It’s unclear though to tell where the entire industry will be at in five years, look at where we were in 2014, that’s a big difference.
One thing we can do is look at other sectors to compare the growth. For now, we’ll look at some other tech-sectors to see what would happen if Verge would follow the same path.
- If Verge has the average YoY growth that the Internet went through by amount of users (in its adoption phase 1995 / march 2017 =
- If Verge has the average YoY growth that Facebook went through (in its adoption phase 2004 / 2016) =
- If Verge has the average YoY growth that the Mobile Phone went through (in its adoption phase 1993 / 2013) =
If Verge has the average YoY growth that the Mobile Phone went through (in its adoption phase 1993 / 2013) = $0.0162
When looking at these other sectors and the current price of Verge, it’s a comforting view of the future. Whether this will become a reality or we’ll see something completely different happen, that’s something only time will tell. Will Sunerok continues to dedicate his time solely to Verge, and what if he would leave, what would happen to the project then?
Many questions that are unanswered at this stage and only the future will tell us what the answers are. Stay tuned and follow our blog for more updates!
Originally published at https://changenow.io on October 14, 2019.