Verge (XVG) is a secure and anonymous cryptocurrency, built with a focus on privacy. It is a decentralized currency designed for users who value privacy. It improves upon the original Bitcoin blockchain by using multiple anonymity-centric networks such as Tor and i2p. It utilizes multi-algorithm mining support to improve security and provide equal distribution of coins to miners.
Current Price: 0.00000115 BTC ($0.002774)
Current Market Cap: 15,422 BTC ($37,196,669)
Current Circulation: 13,409,472,280 XVG
Current Rank basis of Market Cap: 67
Fundamental Analysis
Competition Analysis
Main Competitors (Anonimity Based Cryptos):
- Dash - Rank: 7, MC: 518,398 BTC
- Monero - Rank: 9, MC: 247,738 BTC
- ZCash - Rank: 12, MC: 177,694 BTC
- PIVX - Rank: 29, MC: 48,804 BTC
XVG is expected to enter the top 10 cryptocurrencies by end of 2017. The 9th ranked crypto as of July 2nd, 2017 is Monero (also a like for like competitor) which has an MC of $598 million. Assuming the crypto market space doubles in the next six months, which in all conservative likeliness it should, XVG could be said to have an MC of about $12 billion (520,000 BTC approx.) which would render its price at 520,000/13,409,472,280 = 0.00003878 BTC or 3878 satoshis. This translates to about 32.43 times or 3243% of the current price. The breakup of the increase is detailed below.
Verge v/s Competitors - The Technology
Verge wallet that does no mixing, no ringsigs and no form of transaction obfuscation, but connects to I2P from 4 nodes that are all hosted from the developer and they hide your IP. They call it the "Blackhole" tech. This is in contrast to its competitors which do not perfectly hide user IP.
Company Analysis - Roadmap
Verge has the following roadmap for the near future (July):
1. i2P/TOR Android Wallets
Android Wallet for Anon transactions ONLY! (near completion)
2. New Core Wallet Release
Add new features including coin control, RingCT, update libraries (openssl, boost, etc)
3. RSK smart contracts
They are in testnet for bitcoin now. Date revolves around this timeline.
4. Wallet UI overhaul
5. Merchandise Online Store
Verge Merchandise shop will have tshirts/apparel that can be purchased with XVG and BTC.
As one can see, that is a lot of development lined up for one month. The RSK token part is interesting, if implemented, Verge will be the first crypto to offer anonymous smart contracts. For those who are new to crypto, smart contracts is one of Ethereum's USPs and we all know how much the crypto has grown over the last three months.
To further substantiate the technological development, one could analyse the relative github activities.
Github Activities
Verge - Github Commits: 529, Collaborators: 12
Dash - Github Commits: 13,337, Collaborators: 370
Monero - Github Commits: 4,111, Collaborators: 104
ZCash - Github Commits: 10,640, Collaborators: 356
For a new project, 529 commits is a very healthy number backed by 12 developers. This number is expected to grow and catch up with those of its competitors. Activities in the last 3 months have been greater for Verge vis-a-vis its competitors.
With such monthly developments, one would not be wrong to assume an average of 50% rise in price per month leading up to December. So, for six months, expected rise powered by development = 1.5^6 = 11.39, i.e., 1139%.
Collaborators
Exchanges
Verge is currently listed on 8 exchanges. It is yet to be listed on Poloniex, Kracken, Bitfinex - some major US exchanges. Also, there is no CHinese presence yet. The rate at which alt coins are being adopted by the far east (for instance, btc38 adding Ardor and Syscoin last month), I see it being listed on some major regional exchanges in Q3 and Q4 of 2017. Addittion to each exchange on an average adds 20% to the existing price of a coin (Ardor rose from 85k satoshis to 110k satoshis during the btc38 addition). So if Verge is added to at least 3 exchanges, I see a 1.2^3 = 1.73 = 173% increase in price contributed by exchanges.
Famous Institutions
Last month JP Morgan announced a collaboration with ZCash. The price of ZCash shot up by 100% in 15 minutes before stabilizing at about 50% higher than the pre-news levels. The buildup to the Antshares-Microsoft conference pushed the former's price up by almost 5x. Given the comparison with its competitors above, I see at least one large corporate use Verge technology in the next six months. Safe to say, about 60%-70% increase in price is expected from such news.
So, price increase due to fundamentals ~ 11.39 (Development) * 1.73 (Exchanges) * 1.65 (Institutional Collaboration) ~ 32.51 or 3251%
Technical Analysis
Verge was priced at 5 satoshis till May 8th, 2017. It exploded to 224 satoshis on June 5th, 2017 before retracing to the current value of 118 satoshis. It remains relatively stable against the BTC, when most other alts are losing value and the BTC dominance rising during the crypto meltdown.
The weekly chart shows the formation of a potential cup and handle (C&H). The cup seems to be bottoming out and the handle expected to complete around September 6th to 15th. Breakout from this stage would resemle Wave 3 of the Elliott Wave, which is the strongest of the 5 waves. The breakout from the previous C&H happened from 45 satoshis to 203 satoshis (4.73 times). Applying Elliott Wave Theory, Wave 3 should be 2.618 times (Extended Fibonacci Golden Ratio) that of Wave 1, which is 11.82 times the breakout base of 203 satoshis, i.e., 2399 satoshis. Considering the duration of the present C&H of 12 weeks (June 1st Week to September 1st Week), the next C&H would complete during mid December. The breakout from there would correspond to Wave 5 of Elliott, which would be 1.618 times (Fibonacci Golden Ratio) of the breakout base of 2197 satoshis, i.e. 3886 satoshis.
Details on Elliott Wave Theory could be read at: http://astrocycle.net/PDF/WaveRatios.pdf
To support the analysis, both MACD (12,26,9) and RSI (14) = 64 show bullish trends on the long term. The momentum indicator also seems to mimic the RSI, lending further confirmation about the trends.
Recommendation: Verge Currency (XVG) is a long term buy/hold for those willing to become rich.
The team seems to be in a full on development mode. Recently there release XVG twitter integration for Tipping XVG within twitter. I wrote a How To Manual for Tipping XVG using twitter.
Great Post. 700k in XVG and HOLDING :)
700k in XVG coins or 700k USD in XVG holdings?
He said in XVG ;)
I really hope you held!!
Nice
I hope he did. He would be a multimillionaire by now
Read this a bit late but wow was this great. Now following. Will be investing into verge. Thanks.
The community is at it to get Verge listed on exchanges and platforms. Approaches have been made to add it to Shapeshift and their representative seems interested.
Verge is great in my android tablet's Coinomi wallet app. The thing that is sorely missing is the exchange function - which is powered by Shapeshift. Can't sell it, can't buy it within the app. I am very excited about Verge and your info here has TOTALLY stoked that fire.
Yeah baby.
: )
#payitforward
hi Ajay please ping me [email protected] I would lik to discuss some buisiness, I am looking for a smart guy.
Looking forward to 2018 and XVG.
I agree XVG is for long term investment. Today XVG price is $0.12 hit new high . XVG go to the moon. XVG will be $1 soon.
2 best Exchanges to buy XVG are Binance or Bittrex
Check out>>> Binance review #Bitcoinnewbies
Congratulations @tobeingawhale! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
Good analysis on XVG. Stash this coin up for the long term. Keep them in your electrum wallet and forget about them for a year or 2. Strenghen your position at a dip if you can.
One can always look to strengthen his position on the dips. :)
I did this :-D
I hope you're right, but I just don't see this as reality.
Great article, here you have a new follower!
Great article. Even if it doesn't come true it most certainly could end up close to your prediction. But more importantly it has boosted my believe that I've made the right decision to buy a good chunk. Personally I would be happy with 300 satoshi by the end of the year. But I guess the crypto world wants more and quicker. That would also be great :)
Hello, 3878 satoshi by the end of year could make XVG a great investment.
I just fill my bag with some, hope you are right ;) !
LMAO. MAGIC. This dude probably rich right now.
Great future with $xvg solid project and awesome community
super tengo dinero alli que suba
You sir, have help my good buddies and me a very very very nice return..
Where can I send you some tips? XVG or LTC address?
My confidence on Verge has gone up to 10x ,i will buy more Verge now
this made me want to buy some verge
voted ! I personally am a scalper in Alt-coins not an investor, buy in get out quick I only hold bitcoin , what is your trading style, do You hold Alt-coins ?
I used to be a scalper myself. However, it requires more effort and is prone to higher risk. I'm now identifying a few coins which have the potential of x10+ returns in the next six months. XVG is one such coin.
Also, through scalping you do not make the most of the rallies, when they happen. I knew Ethereum would be big, back in March this year, when it was priced at sub $20. I held it till it stagnated between $40-$50. If I hadn't sold it then, I'd have made x10 more from it by now. Of course, I have enjoyed small rides on ETH intermittently, and also on other coins, but feel that I could have made much more if I just held for long.
Cheers.
What coins do you think will 10x now? I believe since this time xvg went 4x and I don't think it's done. Have you continued improving at this? Any advice?
Well written and I think your prediction is pretty solid. Certainly within the ballpark.
Congratulations @tobeingawhale! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPAn absolute MARVEL of a write-up and analysis @tobeingawhale! Was wonderful to go through the facts and figures as its hows you have done your homework.
A humble request though is to update the figures as well as they have changed quite drastically since your post.
Cheers & God Bless!
Nat & Nelly :)
You deserve way more money for this post than the ±$3 you've currently accrued. Here, have an upvote.
nice post, upvoted... have to agree there is huge potential in XVG... just wish I wasn't so poor and could buy a significant bag.. I have only gathered around 15k so far :( :) :P
Makes me feel even better about my investment in XVG!! Holding my bag for the long haul!!!
You made a good choice investing in it. Always pick a few gems and put your money in them. They'll never disappoint you. Ethereum didn't disappoint me. Verge seems to be the next in line.
Hey bro nice post. I agree with what you've said but what happens if something happens to the developer? Verge seems to be a one man show. Do you know if there is a, "team?" Looks like support is coming in on the front end because the websites is being updated and marketing is starting to take effect.
Well I'm not really an expert but I feel that the number of contributors on github is a reflection of the number of developers the team. I'll confirm and update here.
While the number of contributors are not necessarily the number of developers, there usually is a strong correlation.
Very good post :)
Verge is the sleeping giant! Not a mixer and not a black box. Verge provides a completely different level of anonymity while keeping the blockchain immutable and secure. A shame more people don't know about this gem.
Very insightful, long term play for me!
Thanks for the insight. I really dug Verge before this and you helped solidify it.
Great post! Its a shame it does not have more up votes!!
In such situation you can always up-vote various comments by the author to increase your tip. I just did.
You fucking nailed it!
Great Info!! There's something special about XVG...Im going to keep hoarding just be patient.
Congratulations @tobeingawhale! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPVery well written and detailed article, I am feeling positive about my investments in XVG now :)
Brilliant post and analysis.
I'll now be investing in XVG.
Great analysis from you, will add more xvg to my portfolio. Hopefully we all made it big by December.
Nice analysis. Upvote.
That's one way of putting it. Here's how we say it Aussie style
Awesome article @tobeingawhale ...... I think you might just be on your way to that goal.
This is a very thorough writeup! Makes me want to buy more!
Thank you @tobeingawhale for your detailed review. Following you now!
If the market cap would be 12 billion, the price goes up close to 1$ as there are around 13 + billion coins on the market, am I missing something ?
Market caps calculations such as this are a farce... Just because a current price is $1 doesn't mean everyone could or would sell it for $1. As sell orders flood any market what would the price do? drop... Market cap calculations are worthless for putting a value on pretty much anything for that reason.
You've given a really good suggestions on the new cryptocurrencies @tobeingawhale. I am looking forward to follow your suggestions.
do you think they will add verge to poloniex ?
It will take some time, but in the long run yes. The development needs to continue.
Im new here Hi everyone . I learn from posts like this thanks 👌 Looking forward to 2018 and XVG.😎
06/07/2017
Congratulations @tobeingawhale! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @tobeingawhale! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPThanks for this great post! Much appreciate the research. I think Verge has tremendous potential and have vested in it as well. Regarding the RSk implementation, is that not dependent on the RSK team though? Im sure it will happen and Verge may/will become the frist anonymous CC to offer Smart contracts but we may have to wait a bit on that! Other then that this is a sound investment!
Great analysis!