Verge makes impressive gains over Bitcoin
This may be a semi-decent weekend for cryptocurrency trader after all. Even though most markets are stuck in a "flat" dynamic, others are bursting. The price of Verge, for example, notes a very strong increase of 36% in value over the last 24 hours. It is obvious that there is a lot of attention for any motto focusing on privacy and anonymity right now.
It is always interesting to see how the cryptocurrency markets evolve during the weekend. This particular period is notorious for the delicate commercial trends and market movements that make virtually no sense. This weekend seems a little more normal, which is rather special in itself.
Specifically, the price of Verge is currently $ 0.086. This is a rather healthy increase compared to about two weeks ago, although it is far from the historical high of more than $ 0.2. As most cryptocurrency markets are recovering since the brutal start of 2018, it is not surprising that even the price of Verge remains much lower than some people would like. As such, the current price of Verge is in the right place, looking at the big picture.
This 36% increase in Verge's price is also the direct result of significant gains on Bitcoin itself. With a nice 26% rise in the XVG / BTC ratio, it became clear that altcoins are primarily looking to recover their lost ground against Bitcoin. For the owners of Verge, this trend is rather positive, but it is doubtful that such a dynamic could last more than a few hours. Again, strange things have happened in this industry.
With more than $ 303 million in 24-hour transaction volume for Verge, this altcoin is certainly in high demand right now. We live in a time when governments and banks are taking away all the financial privacy that users can achieve, which is a major problem. There is therefore a growing demand for confidentiality and anonymity, even in the world of cryptocurrency. It remains to be determined whether this volume will remain stable or could even increase later today and tomorrow.
Not surprisingly, Binance users are determined to push Verge's price even further. With $ 123.6 million in volume with their BTC pair and $ 21.1 million in the ETH market, it's obvious that Binance is the place to be right now. Upbit and Bittrex are also in the top three, but none of the top three platforms offer a fiat currency gateway. The first fiat market is the EUR pair of Litebit, which generates just under $ 565,000. Once Verge gets proper currency pairs, things will definitely become very interesting.
For the moment, it remains to be seen what the future holds at the price of Verge. This current uptrend will eventually calm down again, and those looking to cash in may want to consider doing so now or in the next few hours. It is not impossible that the price of Verge rises a little higher, but all good things eventually stop, especially in the cryptocurrency industry.