What is Driving the Soaring Price of Verge (XVG)? It’s Up 295%

11:06 am
July 4, 2023

Summary: The price of Verge (XVG) has experienced a significant surge, increasing by 295% in the past seven days. This surge comes after a period of slow growth for the token, which was previously considered dead. The market cap of Verge has also risen by nearly 400% in the past three weeks. The increased trading volume and speculation of manipulation by experienced crypto investors are among the factors contributing to the surge.

  • At press time, the price of XVG token had soared 295% over the past seven days.
  • The token was trading at $0.006906.
  • The Verge’s market cap has also gone up by almost 400% over the past three weeks.

What started as a slow steady bull case for the Verge (XVG) token has turned into a monster Bull Run after the token price went up by about 300% on June 3. And although the price has slightly pulled back from the June 3 high, it is still 295% high compared to where it was seven days ago.

Verge was long considered dead after it drastically dipped at the beginning of 2023 at a time when most cryptocurrencies showed signs of recovery from the 2022 bear market. However, in mid-June, the current bull trend started, giving Verge new life.


Verge (XVG) price chart. Source Coinmarketcap


While Verge investors and traders are excited about the current bull case for the token, some crypto investors remain skeptical about the upward movement and question the reasons behind this surge. In this article, we will explore the factors contributing to the rising price of the Verge (XVG) token.

Increased Verge (XVG) activity

In addition to the surge in price, Verge has also experienced a significant increase in trading volume. On June 4, the trading volume skyrocketed by an astounding 380% to reach a record $507 million. Although the trading volume has decreased to $480 million at press time, it still indicates a high level of trading activity.

It is also worth mentioning that there are speculations of possible manipulation by seasoned cryptocurrency investors, commonly known as crypto whales, who may be looking to sell their large XVG holdings for profit. However, this speculation has not been confirmed, highlighting the need for caution when trading cryptocurrencies due to their high volatility.

FAQ

What is Verge (XVG)?

Verge (XVG) is a cryptocurrency that focuses on privacy and anonymity. It aims to provide secure and decentralized transactions using blockchain technology.

Why did the price of Verge (XVG) surge?

The price of Verge (XVG) surged by 295% in the past seven days due to increased trading volume and speculation of manipulation by experienced crypto investors. However, the exact reason for the surge is still uncertain.

Is Verge (XVG) a good investment?

Investing in Verge (XVG) or any other cryptocurrency carries inherent risks due to their volatility. It is important to thoroughly research and understand the cryptocurrency market before making any investment decisions.

What should I consider before trading Verge (XVG)?

Before trading Verge (XVG) or any other cryptocurrency, it is important to consider factors such as market trends, trading volume, and news surrounding the token. Additionally, it is crucial to have a solid understanding of trading strategies and risk management techniques.


Share:

More in this category ...

7:34 pm April 17, 2024

Crypto Exchanges Bitcoin Supply Can Only Last For 9 Months, ByBit Report

Featured image for “Crypto Exchanges Bitcoin Supply Can Only Last For 9 Months, ByBit Report”
7:27 pm April 17, 2024

SUI spikes 11% as BTC, ETH slide: Here’s why Sui value is surging?

Featured image for “SUI spikes 11% as BTC, ETH slide: Here’s why Sui value is surging?”
4:46 pm April 17, 2024

Using dig +hint to know DNS solution from begin to end

Featured image for “Using dig +hint to know DNS solution from begin to end”
12:15 pm April 17, 2024

Puffer Finance raises $18 million in new investment spherical

Featured image for “Puffer Finance raises $18 million in new investment spherical”
7:37 am April 17, 2024

XRP Price Recovery Could Soon Fade, These Are Key Levels To Watch

Featured image for “XRP Price Recovery Could Soon Fade, These Are Key Levels To Watch”
5:06 am April 17, 2024

IBM and TechD companion to safely percentage knowledge and gear insights with gen AI

Featured image for “IBM and TechD companion to safely percentage knowledge and gear insights with gen AI”
5:03 am April 17, 2024

WOO unveils innovation hub thinking about Bitcoin’s ecosystem

Featured image for “WOO unveils innovation hub thinking about Bitcoin’s ecosystem”
9:51 pm April 16, 2024

OKX launches public mainnet for its ZK-powered L2 community “X Layer”

Featured image for “OKX launches public mainnet for its ZK-powered L2 community “X Layer””
7:40 pm April 16, 2024

Arkham Releases Top 5 Crypto Rich List

Featured image for “Arkham Releases Top 5 Crypto Rich List”
5:27 pm April 16, 2024

Ankr and Brevis coChain associate to reinforce web3 networks with ZK

Featured image for “Ankr and Brevis coChain associate to reinforce web3 networks with ZK”
5:48 am April 16, 2024

4 techniques generative Machine Intelligence addresses production demanding situations

Featured image for “4 techniques generative Machine Intelligence addresses production demanding situations”
12:14 am April 16, 2024

Germany’s biggest federal state financial institution companions with Bitpanda

Featured image for “Germany’s biggest federal state financial institution companions with Bitpanda”
7:46 pm April 15, 2024

Dogecoin Whales Send 800 Million DOGE To Exchanges, Dump Incoming?

Featured image for “Dogecoin Whales Send 800 Million DOGE To Exchanges, Dump Incoming?”
6:09 pm April 15, 2024

Data virtualization unifies information for seamless Machine Intelligence and analytics

Featured image for “Data virtualization unifies information for seamless Machine Intelligence and analytics”
5:02 pm April 15, 2024

NEO rebounds previous $22.8 as this meme coin presale surges previous $4.8 million

Featured image for “NEO rebounds previous $22.8 as this meme coin presale surges previous $4.8 million”
7:49 am April 15, 2024

SOL Price Dump and Pump, Can Solana Overcome Selling Pressure?

Featured image for “SOL Price Dump and Pump, Can Solana Overcome Selling Pressure?”
7:49 pm April 14, 2024

Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window

Featured image for “Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window”
7:52 am April 14, 2024

Avalanche (AVAX) Downtrend Persists Amid Market Uncertainty

Featured image for “Avalanche (AVAX) Downtrend Persists Amid Market Uncertainty”
9:49 pm April 13, 2024

Binance Labs backs BounceBit for Bitcoin restaking and CeDeFi revolution

Featured image for “Binance Labs backs BounceBit for Bitcoin restaking and CeDeFi revolution”
7:56 pm April 13, 2024

Market Expert Reveals Why Solana Price Is Poised To Go Higher

Featured image for “Market Expert Reveals Why Solana Price Is Poised To Go Higher”
2:37 pm April 13, 2024

Bitfinex introduces tokenized debt for El Salvador’s first Hampton by means of Hilton Hotel

Featured image for “Bitfinex introduces tokenized debt for El Salvador’s first Hampton by means of Hilton Hotel”
7:59 am April 13, 2024

Analyst Predicts ‘Realistic’ 5x Surge To $3

Featured image for “Analyst Predicts ‘Realistic’ 5x Surge To $3”
7:50 am April 13, 2024

IBM researchers to put up FHE demanding situations at the FHERMA platform

Featured image for “IBM researchers to put up FHE demanding situations at the FHERMA platform”
7:25 am April 13, 2024

Algotech’s 3rd presale degree surpasses $3.7m, with over 94 million tokens offered up to now

Featured image for “Algotech’s 3rd presale degree surpasses $3.7m, with over 94 million tokens offered up to now”
12:13 am April 13, 2024

Omni Network lands on Binance Launchpool as Algotech alternatives presale momentum

Featured image for “Omni Network lands on Binance Launchpool as Algotech alternatives presale momentum”
8:10 pm April 12, 2024

Merging top-down and bottom-up making plans approaches

Featured image for “Merging top-down and bottom-up making plans approaches”
8:01 pm April 12, 2024

Shiba Inu Sell Pressure Is Dropping

Featured image for “Shiba Inu Sell Pressure Is Dropping”
4:53 pm April 12, 2024

Hong Kong’s spot ETFs document drives BTC upper; traders pile into Bitbot presale

Featured image for “Hong Kong’s spot ETFs document drives BTC upper; traders pile into Bitbot presale”
9:41 am April 12, 2024

Monero (XMR) trade troubles proceed with some other main delisting

Featured image for “Monero (XMR) trade troubles proceed with some other main delisting”
8:31 am April 12, 2024

IBM Blog

Featured image for “IBM Blog”