Verge (XVG) has seen plenty of excitement in the past few days and that excitement has reflected in the form of enormous price gains since the recent ‘bullish’ outlook of the crypto markets. Verge has made significant gains in a much shorter time compared to other coins as can be seen in the long green candlesticks in the XVG/USD Chart. The price is still up more than 14% at the time of writing in anticipation of a mystery announcement today at 10 am EST.
Verge (XVG) has been up more than 27% in the past 24 hours and is currently ranked the 18th largest coin by market cap. Monero (XMR) ranks 11th and Cardano (ADA) ranks 7th in terms of market cap. There are two primary reasons for comparison of these coins with Verge (XVG) apart from investor gossip on multiple online forums wooing for Verge (XVG) to outrank these coins. I have to admit that Verge really has a very strong community but before we discuss that, I’d like to go back to the comparison. Monero (XMR) is a privacy coin same as Verge (XVG) claims to be. The difference is that Monero is a lot more sophisticated and advanced privacy coin with far more use cases than Verge. It also has a more professional team and comparatively more industry recognition and respect. When investors talk about Verge vs Monero that means they are rooting for Verge to outrank Monero in terms of tech as a better privacy coin. One could debate the possibility of that actually happening but at least this is what some Verge investors believe.
The comparison with Cardano, apart from technological edge is mainly focused on gains. Cardano (ADA) and Verge (XVG) are probably two of the hottest top 100 coins in the crypto market right now. That means investors are quick to pick them up at the earliest sight of a possible recovery and these coins register heavy gains as soon as that happens. I can’t disagree much with Verge investors when they compare its gains to other top 100 coins. It is surprising to believe that the above chart of XVG/BTC is actually the current chart of the coin in comparison with BTC and shows recent gains! It already looks to be almost close to where it fell from. This goes on to show how quickly investors have picked up the coin at each dip.
Whether these big movements actually represent genuine investor interest or they are just massive pumps and dumps is yet to be seen. It is reasonable to have such suspicions when you see that Verge Coin which actually has a non-verified Twitter account as @vergecurrency runs its account like a kid. They often retweet posts from a user, @Verge_Girl and are more interested in posting trading related stuff rather than actual milestones, events or developments related content. They are also known for their superficial and unrealistic announcements which often end up resulting in investor outrage. Then there comes another big mystery announcement, all is forgotten and the bull run resumes.