It is apparent that privacy coins are here to stay. People are steadily embracing the coins that promise to keep their identities and activities away from the public eye. Likewise, some people’s lifestyles push them towards the adoption of anonymous coins. Consequently, there has been a rapid increase in the use of the untraceable digital assets. At the same time, investors have lately been increasing their stake the coins such as Verge (XVG), Monero (XMR) and Zcash (ZEC). However, these coins are not spared from the up and down of the cryptocurrency market prices.
Verge, for instance, has continued to correct lower from the all-time high (ATH) in January 2018. The bullish rally towards the end of 2017 saw the crypto surge tremendously from trading in a range around $0.01. Verge exchanged hands at $0.30 ATH prior to the extended downtrend in the last 9 months. The digital asset has suffered greatly to the extent of trading in the levels of October 2017 (after the launch).
The cryptocurrency market has consolidated the losses that have dominated the initial two weeks of September. Verge (XVG) is making a nice recovery from lows close to $0.012 and testing the immediate resistance at $0.04. Precisely, Verge is changing hands at $0.0136 following a 3.68% rise in the last 24 hours.
We are almost at the end of the third quarter of the year. The market and the cryptos alike have deflated great in the last three quarters. Experts expect that the digital assets will spike considerably towards the end of the year. The surge might not be similar to last year’s but several critical barriers are expected towards the ATH. Therefore, the real question is; can verge hit $1 in 2018?
It is important to realize that this question has no straight answer. Although, various aspects of the project can be analyzed to ensure that the prediction is as close to being as accurate as possible. These aspects include but not limited to developments, upgrades, community strength, exchange listings, and partnerships.
Moving on, the recent development report from the Verge team put several wallet roadmaps in the spotlight. The iOS wallet, the Electron (not Electrum!) and the QT (with the new codebase) are all undergoing development at the moment. The exact dates for the release of the wallets have not been set but Verge said that it will continue to release updates and progress reports. In addition to that, the development of the new desktop wallet is said to have been completed successfully. However, the team is waiting for the new codebase before it is released. Moreover, the wallet is already integrated with newly developed Insight API clients.
Verge (XVG) is also working on the release of an iOS wallet. The launch of the wallet is highly anticipated and this is the reason why the team is working to ensure that the design is not only elegant but also functions as expected while using various visuals. The Verge Swift Insight API is being utilized to develop the wallet using the blockchain. On the other hand, the Android wallet has been included in the roadmap for an upgrade in 2019.
Significantly, the development team has come up with a prototype for the Legder. The team has proved that it can be integrated with the Ledger Nano S. At the same time, various avenues are being explored in order to include security features. Verge expects the support of Ledger HQ, which will allow them to integrate with their product.
There is also a code base revision that is currently taking place. This will see an improvement of the Bitcoin Core v13.0.0 (launched in Aug 2016) to the current version at the moment. The benefits of these changes are massive and cannot be summarized in a single paragraph. However, the team says that the revision will bring substantial blockchain performance and related improvements. It will also improve chain validation through the improved PoW application. There will be improved RPC commands, significantly upgraded chain security and impressively beefed up CPU and memory performance.
The above developments are just but a few I could mention in the article. Furthermore, the increasing mass adoption of Verge (XVG) continues to place the crypto ahead of the competition. Bitnovo, for example, announced the support for XVG and this means that that the company’s coupons can be used to purchase Verge at various outlets such as Fnac, Eroski, Carrefour in both Italy and Spain. In addition, Crypto Planet, an online retailer has integrated Verge (XVG) payments.
All these developments are bound to place Verge (XVG) on the right track towards the impending surge as the year nears an end. Verge needs to break from the current bear pressure and embark on a journey towards $1. Well, it is possible for XVG/USD to reach $1.00, however, breaking the ATH will be good enough for the investors.