The privacy coins seem to remain for good. The coins promise its users to hide their identities and activities from public. Similarly, the lifestyle of some people requires the use of anonymous coins. As a result, the adoption of the untraceable digital assets has been rapidly spread. On the other hand, the investors have been rising their share in coins like Verge (XVG), Monero (XMR), and Zcash (ZEC). But these coins are not immune to up- and downsurges in the cryptocurrency market.
For example, Verge has kept recovering from the all-time high (ATH) in January 2018. The bullish trend headed to the end of 2017 experienced a crypto surge resulted from trades within a range approximately $0.01. Before the prolonged downward trend during the past 9 months, Verge was trading at $0.30 ATH. October 2017 (following its release) was challenging for the digital asset in terms of trade volume.
The loss dominating first two weeks of September has been consolidated by the cryptocurrency market. Verge (XVG) is recovering now from the level of $0.012 and checking the resistance at $0.04. To be specific, Verge is trading $0.0136 after a 3.68% increase within the past 24 hours.
The end of 3rd quarter is near. The past three quarters have faced a substantial deflation in the market and cryptos. The digital assets are expected by the experts to significantly rise until the end of the year. The surge might differ from last year but there are some potential critical barriers before the ATH. So, is it possible for Verge to reach $1 in 2018?
There is no straight answer to this question. Still, in order to make a prediction as close to the real future as possible, the project can be analyzed per different aspects. Among these aspects, included are upgrades, partnerships, developments, community power, and exchange listings.
Then, Verge team’s recent development report brought some wallet roadmaps forward. The iOS wallet, the Electron (not Electrum!), and the QT (with the new codebase) are under development. The wallets’ release dates are not clear yet but according to Verge, they will keep releasing updates and progress reports. Additionally, a new desktop wallet has been announced to be successfully developed. On the other hand, the team is looking forward to the new codebase prior to its release. Furthermore, this wallet is already integrated with recently developed Insight API clients.
An iOS wallet is also under development to be released by Verge (XVG). The release of the wallet is widely expected, and thus, the team is trying to make sure of an elegant design as well as expected functions with various visuals. The wallet is being developed with the Verge Swift Insight API over the blockchain. However, the Android wallet is waiting for an upgrade in 2019.
Notably, a prototype was developed for the Ledger by the team. The team has shown that it is able to be incorporated in the Ledger Nano S. Besides, security features are systematically checked for. Ledger HQ’s support is expected by Verge to let them to incorporate in their product.
Furthermore, there is an ongoing codebase revision. In this respect, the Bitcoin Core v13.0.0 (released in August 2016) will be upgraded to the existing version. These alterations are beneficial by all means, and single paragraph is not enough to sum them up. On the other hand, the team states the revision to be adding substantial blockchain performance and associated enhancements. Besides, it will upgrade the validation of the chain with the renewed PoW application. RPC commands will be enhanced, chain security will be substantially improved, and CPU and memory performance will be drastically strengthened.
The developments mentioned above are just limited part of them. Besides, Verge’s (XVG) mass employment results in assuming a better position for this crypto than its competitors. For instance, Bitnovo announced that it would support XVG, meaning that its coupons can be adopted for purchasing Verge from a number of outlets like Fnac, Eroski, Carrefour in Spain and Italy. Additionally, an online retailer called Crypto Planet has recognized payments using Verge (XVG).
Along with these upgrades, Verge (XVG) seems ready to the upcoming surge towards the end of year. The existing bearish trend is required to be broken by Verge to head to $1. XVG/USD may hit $1.0, but the investors will be contented with the ATH breakage as well.