Dogecoin Dark was created in September 2014 with the two-pronged goal of maximum anonymity and true decentralization. Almost two years after launching Dogecoin Dark, the team re-branded to Verge with the same privacy and decentralization goals.
Year in Review
Verge (XVG) had a pretty terrible year, in all aspects: price-wise, tech wise but also business wise.
Major news of the year was the bought partnership (they solicited funds from their followers on Twitter, to help them “accelerate the crowdsourcing effort”) with PornHub, back in April 2018. But not long after that, Verge blockchain was attacked two times, tarnishing coin’s reputation beyond reparable.
Here is a nice recap of Verge’s terrible security breaches and poorly implemented privacy features:
“In April 2018, a bug in the retargeting of the algorithms got exploited using a 51% attack. Using spoofed timestamps, the need for a different algorithms each block was circumvented and the hackers were able to submit blocks to the chain at a high speed, mining 1 block per second (!) effectively ruling out 99% of the legit pools, which were losing money.
In May 2018 the same thing happened but with a different approach: hackers sent one block with Scrypt algorithm containing a spoofed timestamp followed by a block with Lyra2re algorithm containing a spoofed timestamp and by repeating that process and thus lowering the difficulty, the hackers were able to mine several blocks per minute.
They had first official meetup in June.
In September, Verge (XVG) was added to The Crypto Planet and Bitnovo, followed by addition to NetCents. Token was also added to some minor exchanges during the year.
Verge is still working on their wallets to include actual privacy features, so the current versions are far from the final product.
General Market Movements and Sentiment Shift
The downfall of altcoins that were mainstream media darlings at the start of the year, XVG among them, can be attributed, in part, to novice investors getting scared off once the bear market kicked in with a vengeance. Every resurgence of bitcoin in recent period, was met with the, for the most part, inability of altcoins to rally with it. Reason for that can be rookie investors learning from their mistakes, while smart money that was previously watching from the sidelines has begun to enter into bitcoin.
These entities weren’t about to buy BTC when it was trading at an all-time high, but they’ll take a look now, having missed the boat the first time around. None of them, it seems, are interested in altcoins however, despite the fact that many are trading at a 5x discount. Institutional investors may be cautious, but they’re not foolish.
Our XVG Price Prediction for 2019
XVG, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, XVG can hope for one as well. Since that is very unlikely, don’t expect much to change for XVG price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.
The main currency in cryptocurrency markets is Bitcoin and given this, altcoins tend to fuel Bitcoin runs and Bitcoin tends to do the same in return. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.
When Bitcoin goes up swiftly, it will likely:
- Suppress or depress altcoins as money flows into Bitcoin;
- Or, take altcoins along for the ride
In cases when Bitcoin plunges, it will likely:
- Depress altcoins as money flows into fiat;
- Or, cause altcoins to boom as money flows into them, but this is rarely the case.
When Bitcoin moves sideways, it will likely:
- Cause altcoins to mimic that as traders wait for a clear sign on the direction of the market;
- Or, cause altcoins to flourish as traders look for returns in altcoins and try to get favorable trades in terms of BTC pairs.
To summarize, Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will XVG be among those 5%?
XVG is like a twin brother of TRX – a lot of hype and little substance in the project. The team managed to build strong, cultish community but prolonged bear market dissipated it and XVG circles are real shipwrecks these days.
Two 51% attacks exposed the incompetence of their team which disqualifies them from the role they had in late 2017, early 2018: they were one of the most suitable coins for pumps and dumps. Nowadays, pump and dumps are much harder to organize and there are coins that project a better brand image than Verge, making them a better candidate for the pump and dump conductors.
All of this means that XVG will remain in its zombie phase, perhaps even officially die and get buried along many other worthless altcoins.
All of this summed up means one thing: XVG might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect XVG will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Verge XVG Roadmap 2019
A new roadmap was released back in October and it contains several upcoming project milestones. In typical Verge fashion, none of the roadmap points have any set dates on them, thus avoiding the responsibility of being called out on more potentially missed deadlines. Even with such a vague roadmap they added an addendum “in spirit of transparency and good faith”, claiming that these plans and milestones are subject to change based on “priorities, unplanned developments and new ideas.
While no actual dates were provided, the roadmap at least gives a general idea of how close certain milestones are to completion. According to the roadmap:
- Online store for XVG merch is 95% complete
- XVGui miner for Windows with a mining pool and a guide is 80% complete
- codebase rebasement is 96% complete
- desktop wallet development is 85% complete
- RingCT integration is 45% complete
- RSK smart contract integration is 25% complete
- The iOS wallet is 60% complete.
Market Prediction for Verge price
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the Verge (XVG) price, which will give us another point of view to consider:
Algorithm at cryptoground.com sees some green color in the second part of this year for XVG, predicting it reaches $0.0281 by the end of the year.
One of the best crypto market analysis site, walletinvestor.com forecasts that verge coin might reach up to $0.138 by the end of 2019. They even stated that in 5 years, XVG might go up by 2-3%.
Mega Crypto Price
According to this predicting algo, XVG might hit $0.7401 by 2020 (Verge Coin price prediction 2020). They even added that by 2023, Verge might reach $2.39.
Coin Fan predicts that by the end of 2019, XVG might reach as much as $0.172 and on the lower side, it can reach $0.127.By 2020, XVG might reach somewhere between $0.45 to $0.61, as per Coin Fan Predictions.
Digital Coin Price
This website predicts that XVG might reach $0.0257 by the end of 2019 and might reach $0.043 by 2022. It even shows a fall in price in 2023 and predicts that XVG price might get devalued to $0.041.
Trading Beasts predict that XVG might reach around $0.05 towards the end of 2019. This forecast is a very pessimistic one. They even stated that by 2020, XVG might be somewhere around $0.07.
Verge Price Prediction 2020, 2023, 2025
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