The total value of all crypto currencies combined has increased from $17 billion in December 2016 to $650 billion in mid December 2017.
The “astronomic” percentage returns on investments of the crypto space has blown away any type of logic if we consider the average performance of the stock market or other classic asset classes in the last few years.
Bitcoin is the crytpo currency most people currently know, thanks to all the media coverage it received in the last 12 months. It is the one with all the glory. It’s the most traded digital currency in the world.
But there’s more than Bitcoin out there in the wild digital currency land.
Despite being the most famous one out there, Bitcoin is by far not the most advanced from a technological point of view, considering the insane energy consumption and transaction fees associated with each Bitcoin transaction the market has reached.
A recent ICO by an energy company saw this as an opportunity to address the energy issue the world is in today.
What is Verge Currency?
Verge Currency defines itself as the only completely anonymous crypto coin, allowing its holders, thanks to the newly released Wraith protocol, to choose between public and private blockchain ledgers, and as consequence allowing transactions to become completely private and anonymous.
If you were not aware, Bitcoin and other crypto currencies are not that anonymous as many used to think.
The blockchain technology behind the project is the main driver of its recent surge, along with some controversial tweets from cyber security pioneer Mcafee. Verge’s blockchain incorporates some of the components that’s made bitcoin’s blockchain technology so successful, but it incorporates additional improvements and features to increase anonymity and privacy, among with shorter and considerably cheaper transactions times and fees.
The tech supporting the coin uses multiple anonymity-centric networks such as Tor and 12P. The IP addresses of the users are obfuscated and the transactions are completely untraceable.
The team’s motto is “Privacy as a choice”.
A simpler view on the new Wraith protocol by twitter user @VergeAddict described below:
Wraith Protocol simplified.
The community behind the anonymous currency is one of the biggest out there.
The official twitter account for the coin @VergeCurrency has over 148k followers, while an unofficial #XVG (the currency pair name) fan page like @VergeAddict has over 714k followers.
The sentiment for this currency is very strong, especially thanks to the anonymity and tech part behind it.
The Verge Currency coin (XVG), started being traded on exchanges at the beginning of 2017.
At the time, the value was around $0.000019. Yes, that’s four zeros before that nineteen.
Last month, the coin hit an all time high of around $0.26 per coin, with a market cap just north of $2.5 billion.
If math is not an opinion as they say, if you’d invested a little more than a hundred dollars in Verge at the beginning of 2017 (like 150$), you probably wouldn’t be reading this article.
You’d be a millionaire.
Or, more precisely, you’d have a little more than $2m dollars in your pocket.
The rise of Verge Currency in the TradingView (Bittrex data)
After reaching the all time high, the currency is now in a correction period. The new privacy protocol effect on the market has yet to materialize.
2018 seems a consolidation and growth year for this anonymous Verge coin, as more players are going to enter the market. The recent Wraith protocol adoption and the solid community behind it are very good ingredients.