Known for its emphasis on privacy and anonymity, Verge (XVG) has seen a staggering 300% increase in value over the past week, according to data from CoinGecko.
Altcoin Verge (XVG) Price Rises 300 Percent In A Week
This phenomenal growth has attracted a lot of attention from crypto enthusiasts around the world, with The Verge boasting an impressive 24-hour trading volume of $489 million and a market cap of $108 million.
Making its debut in 2014, The Verge first gained popularity during the Bitcoin-focused bull run in 2017.
Cryptocurrency’s appeal lies in its ability to provide a fast, efficient, and privacy-focused blockchain for seamless transactions. As a result, Verge has established itself as a major player in the crypto market.
Why Did XVG Rise?
It was with Binance’s announcement that XVG started to rise. Binance reversed this decision after announcing that it would delist privacy coins in Europe. Then there was some rise in the privacy-focused altcoin XVG.
Later, this rising wave grew and grew during the week and triggered a 300 percent rise.
Although XVG has lost some of its gains, it is still trading 150 percent higher than a few days ago.
These cryptocurrencies have been around for a significant amount of time but may have been overshadowed by the hype surrounding newer, more trending tokens.
Verge’s remarkable rise is not an exception, as several other proof of work coins have also seen notable gains. Among these notable performers are Bitcoin Cash (BCH) and Litecoin (LTC).
The resurgence of these veteran altcoins shows a renewed interest in crypto long-time players.
Because before the bull markets started, it is a situation that has been seen before that the known major coins experienced serious rises.
* Coins that have experienced a serious rise recently are quite risky. It is necessary to be extra careful when investing in these coins.