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Verge (XVG) Rockets to New Heights: What’s Behind the Meteoric Surge?

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Verge (XVG), a digital currency recognized for prioritizing privacy and anonymity, has experienced an astounding surge of almost 300% in the last seven days, as reported by CoinGecko. This remarkable performance has attracted global attention from cryptocurrency enthusiasts, considering its remarkable 24-hour trading volume of $489 million and a market capitalization that has reached $96 million. Referred to as an “original gangster” altcoin, Verge has firmly established its presence in the crypto community.

Originally launched in 2014, Verge emerged as a prominent player in 2017 amid the bullish market driven by Bitcoin. The cryptocurrency stands out with its distinctive value proposition, centered around delivering a rapid, effective, and privacy-oriented blockchain platform for conducting transactions. For further information, you can explore the article on U.Today titled “Verge (XVG) Suddenly Skyrockets Nearly 300%: Possible Reasons.”

ISO 20022 Verge Compliance

Following in the footsteps of visionary Steve Jobs, who famously defined innovation as the core of leadership, they are thrilled to announce a significant milestone for Verge Currency. As an open-source digital currency propelled by a community of dedicated individuals, they have achieved compliance with ISO 20022, a standardized framework. This accomplishment positions them as the ninth cryptocurrency to offer this standardized option, and notably, the first decentralized, community-driven Internet of Things (IoT) currency.

This was exemplified by our previous crowdfunded initiative, which ensured Verge’s compliance with the SEC’s Howey Test.

With Verge having been confirmed as not being a security, the next logical step was to achieve compliance with ISO 20022, a major accomplishment facilitated by our partner Voice Life and implemented by BlockDudes. This achievement has opened the door for Voice Life to enable passive income distribution to their F-NFT holders using the XVG coin.

While ISO 20022 may not have been originally designed with cryptocurrencies in mind, its integration with Verge demonstrates our determination to take the lead in integrating digital currencies into the broader financial landscape.

The recent announcement is more than just a routine update; it marks a significant milestone in our ongoing journey towards the future of digital currencies. Verge Currency’s compliance with ISO 20022 is not just about thinking differently; it represents a paradigm shift and sets the stage for a new narrative in the global financial landscape of digital currencies.

Prehistoric Crypto Makes a Comeback: The Revival of “Dino Coin.”

Some analysts have introduced the term “dino coin renaissance” to describe a potential shift in the overall market sentiment. This shift entails a move away from the craze surrounding “meme coins” and towards a resurgence of older cryptocurrencies known as “dinosaur coins.”

These coins have been in existence for a significant period but may have been overshadowed by the popularity of newer and trendier tokens. Verge is not the only older altcoin experiencing a surge in value. Other “proof of work dino coins,” such as Bitcoin Cash (BCH) and Litecoin (LTC), have also recently witnessed substantial gains. The future will determine whether this trend persists, but it has certainly sparked renewed interest in the seasoned veterans of the cryptocurrency world.

Verge Accuses Justin Sun of Alleged Insider Trading; Can Sun Prove Otherwise?

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According to a recent investigation published on The Verge, crypto billionaire Justin Sun has been tied to a slew of wrongdoings.

According to the article, Sun, who co-founded Tron and also controls BitTorrent and Poloniex, has broken practically every law in the book since he began his crypto odyssey.

Justin Sun’s long list of controversies

Since 2017, the polarising CEO has been involved in a slew of scandals ranging from tax evasion to market manipulation. Following his expulsion from China due to the Tron ICO, his acts as CEO of BitTorrent and Poloniex in the United States may expose him to legal action.

Sun is described in the blog by Christopher Harland-Dunaway as an escape artist who has always managed to get himself out of legal trouble.

According to the journalist, several former and current employees and official documents confirm these allegations against the Tron founder.

Insider trading is one of the charges made in the report, which claims that Tron’s market-making crew acquired massive tokens after the company made a remarkable public statement.

This pushed up the price, making it easy to sell at a hefty profit. This type of market manipulation is illegal in stock trading and could expose crypto traders to liability.

Former colleagues have also accused him of being overbearing and occasionally directing illicit activities. According to a former employee, when Sun planned to launch the BitTorrent Token, he attempted to escape responsibility by portraying it as a utility token.

As a result, he ordered BitTorrent’s chief compliance officer, David Labhart, to write a paper demonstrating that BTT was a utility token rather than a security. Although Labhart declined to do this, Sun nonetheless launched the token by airdropping it to BitTorrent users.

His crypto exchange, Poloniex, is also accused of unethical and dangerous operations. These include registering in the Seychelles islands to avoid accountability, although the majority of the employees are based in Boston, and reducing the KYC rules.

Justin Sun was also reported to have retrieved about 300 BTC belonging to exchange users through a scheme dubbed “Operation Couch Cushions,” but converted them for his own use by disguising the transaction trace of the currency.

Justin Sun tries to fight back

On the other hand, Sun has denied the majority of the charges made in the report. Poloniex, he claims, is a safe exchange with cutting-edge KYC technology. Poloniex is not registered in Seychelles, and it does not operate in the United States, according to him.

He went on to say that in all of his contacts as Grenada’s ambassador to the World Trade Organization, he adheres to the highest standards. He also suggested that he may take legal action.

These 3 crypto currencies would rise even if Bitcoin bites the dust

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Recently Bitcoin has been showing some signs of weakness. This is excellent news for many other brands of crypto tokens. These competing tokens have been severely beaten this year as Bitcoin – dominant cryptocurrency – fiercely ventured forward, leaving no land unconquered.

This may be an opportunity for the smaller crypto brands in the arena to bloom. This could even be a chance for a few them to try and move to a pole position.

Basic Attention Token, Verge, and VeChain are three cryptocurrencies that we have identified as potential candidates that are very cheap to buy right now. These can be considered as the hidden gems of the crypto market right now. Their signals indicate that they are an excellent choice for future pole position holders, but please bear in mind that this is not investment advice and this report is only intended for informational purposes.

Basic Attention Token – Bottom Signal Flashed  (BAT/BTC)

Basic Attention Token is a reliable, low-cost candidate. Aside from the climb to 0.000094 BTC on 21 April, it has traded in a well-defined range. From December 2017, this crypto has moved between range support of 0.000023 BTC and a range resistance of 0.000056 BTC. The midpoint is at about 0.0000395 BTC.

We believe that this could be a reasonably easy trade because the cryptocurrency respects our range support of 0.000023 BTC. Additionally, it flashes bullish divergence and some oversold signals. If you opt to invest long term, buy as close to 0.000023 BTC as you can. Our targets would be 0.0000395 BTC and 0.000056 BTC.

Verge – Trades at Historic Lows (XVG/BTC)

Verge’s great crypto hardship could be coming to its end. We forecast this as the market seems to have completed its cycle. On 23 December 2017 0.00002 BTC was posted – this was an all-time high. Then on 16 July 2019, the token plunged to 0.00000053 BTC. That translates to a fall of 97.4% over 19 months.

Mostly, Verge has relinquished all of its gains from 2017. The expectation is that it could bottom out here or, worst case, cease to exist entirely.

Fortuitously, technical indicators show that the Verge could survive and commence a new market cycle. To date, bulls confirm thoughts at 0.0000005 BTC. Additionally, the daily RSI shows a long bullish divergence. As you know, these signals are those of a market entering the accumulation phase.

If you want to buy, purchase as close as you can to 0.0000005 BTC. Targets are at 0.000001 BTC and 0.0000015 BTC.

VeChain – Multiple Reversal Signals Seen (VET/BTC)

VeChain is displaying powerful reversal signals. Reviewing its daily chart, it has been noted that this cryptocurrency is trading at close to the bottom of a continually falling trend.

More prominently, it shows signs that it is ready to remove any diagonal resistance of the slope. Also, technical indicators are favoring the divergence. Looking at the daily RSI, we have noted a long bullish divergence. This indicates that momentum has been gathering for some time. VeChain could ignite in a big way very soon.

On 25 June the capitulation volume was the largest that has printed. Again, another reliable indicator that tells us that the dip has already been and gone. To validate our findings, VeChain needs to reclaim 0.0000006 BTC and transform it into robust support. Should that happens, bulls divergence will easily hit 0.000001 BTC.

Conclusion

There are many cryptocurrencies to choose from, and we have found three that are signaling good times ahead.  We recommend that you use this report to understand how to read the market signals and make your own crypto investment decisions on cryptocurrency, at a time when Bitcoin is starting to flag.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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