It may turn out to be a semi-decent weekend for cryptocurrency traders after all. Even though most markets are stuck in sideways momentum, by the look of things, others are popping. The Verge price, for example, notes a very strong 36% increase in value over the past 24 hours. It is evident there is a lot of attention for any currency focusing on privacy and anonymity as of right now.
Verge Price is Soaring High
It is always interesting to see how the cryptocurrency markets evolve during the weekend. This particular period is notorious for awkward trading trends and market movements which make virtually no sense whatsoever. This weekend seems to be a bit more normal, which is rather peculiar in its own right. With the Verge price firing on all cylinders as we speak, it is evident there’s some good money to be made during these interesting times.
More specifically, the Verge price is currently $0.086. That is quite a healthy increase compared to about two weeks ago, even though it’s far removed from the all-time high of over $0.2. As most cryptocurrency markets are still recovering from the rough start to 2018, it is not surprising to see even the Verge price remaining a lot lower than some people would like. As such, the current Verge price is in a good place, when looking at the bigger picture.
This 36% increase in Verge price is also a direct result of strong gains over Bitcoin itself. With a nice 26% increase in the XVG/BTC ratio, it has become rather evident altcoins are looking to recover their lost ground against Bitcoin first and foremost. For Verge holders, this current trend is quite positive, but it is doubtful such momentum can be sustained for longer than a few hours. Then again, stranger things have happened in this industry.
With over $303m in 24-hour trading volume for Verge, this altcoin is certainly in high demand as of right now. We live in an era where governments and banks are removing any financial privacy users can achieve, which is a major problem As such, there is a growing demand for privacy and anonymity, even in the world of cryptocurrency. Whether or not this volume will remain stable or potentially even increase later today and tomorrow, has yet to be determined.
Unsurprisingly, the Binance users are determined to push the Verge price up even further. With $123.6m in volume with their BTC pair and another $21.1m n the ETH market, is evident Binance is the place to be right now. Upbit and Bittrex are also in the top three, yet none of the top three platforms offer a fiat currency gateway. The first fiat market is Litebit’s EUR pair, which generates just under $565,000. Once Verge gets actual proper fiat currency pairs, things will undoubtedly get very interesting.
For now, it remains to be seen what the future holds for the Verge price. This current uptrend will eventually calm down again, and those looking to cash out profits may want to consider doing so now or in the next few hours. It’s not impossible the Verge price may climb a bit higher, but all good things eventually come to an end, especially in the cryptocurrency industry.