Verge (XVG) Course increases in a leap in bold: What is behind the success of the digital currency?

Verge (XVG) Course increases in a leap in bold: What is behind the success of the digital currency?

VERGE (XVG) - An upswing thanks to new listings and futures on Binance

The price development of most cryptocurrencies was sideways this week because Bitcoin had difficulty breaking the resistance of $ 31,000. Nevertheless, some old coins were able to record better performance, including the lesser -known Coin Versge (XVG). In the past few days, its price has risen and has reached the highest level in over a year.

What is Verge (XVG)?

VERGE is a digital currency that was developed for everyday transactions and currently has a market capitalization of just over $ 135 million. Similar to Bitcoin, this blockchain project uses the proof-of-work (POW) technology, but offers extended data protection functions. In addition, the network enables the use of the multi-algo Pow technology, which enables the mining of XVG tokens with every device. Verge also offers integrations with gate, I2P and electrum. Tor is a browser that enables users to surf anonymously on the Internet and access to the Darknet. Verge also offers a platform that users can use to exchange encrypted messages. These functions make verge a promising cryptocurrency for everyday use.

Reasons for the price increase of Verge (XVG)

There are two main reasons for the price increase of Verge. On the one hand, the coin was listed on GiaTos, a rapidly growing crypto tour in India. Historically, cryptocurrencies tend to gain great value after their listing on popular cryptopois.

On the other hand, the world's largest crypto tour has announced Binance to include XVG Perpetual Futures in your ecosystem. This message has further strengthened the interest and trust of investors.

Another factor that influenced the price of Verge is the fact that the coin exists the Howey test that the SEC uses to categorize securities. In contrast to some other similar coins, Verge did not initially perform Coin Offering (ICO) and was never a token that could be stacked. Lately, the prices of many similar coins as Litecoin and Bitcoin have risen, and Verge has not been excluded.

forecast course forecast

A look at the price chart shows a bullish outbreak of XVG this week, accompanied by a strong increase in the commercial volume, especially on Binance. The verge course exceeded the lines of all moving average and the resistance of $ 0.0037, the highest price on February 21. Indicators such as the relative strength index (RSI) and the Stochastic Oscillator have risen over the overbought level.

On the basis of these results, it can be assumed that traders will realize their profits and lose the coin of value. If this is the case, you should keep an eye on the price of $ 0.0036, which is about 55% below the current level.

FAZIT

VERGE (XVG) has experienced an upswing in the last few days due to several factors. The listings on a popular crypto tour in India and the announcement of the introduction of XVG Perpetual Futures on Binance have strengthened the interest and trust of investors. As a digital currency for everyday transactions and with expanded data protection functions, VERGE has the potential to continue to increase in the future. However, it remains to be seen whether the coin can keep its current price in view of the profrises of the traders. Investors should continue to observe the verge course in order to take advantage of potential opportunities or to avoid losses.

In our next article we explain how to buy or short or short.