While Verge (XVG) managed to reach an amazing rate of growth in the past seven days with 56% of gains during that short period of time, it was more than obvious that Verge was one of the top gainers of the week as this currency managed to bounce off from the market dip in a skillful matter. However, it might be the case that Verge had its five minutes during the last week while achieving 20% of gains in a period of only 24 hours during that time because of the already famous crowdfunding campaign launched by XVG dev team in the last week of March 2018.
Since the response was pretty flattering, the dev team managed to collect the set goal of 75 million XVG even before the expiration of the crowdfunding campaign, while investors kept on buying more XVG even though the goal was reached. Now, we are interested in finding out what Verge (XVG) has been up to after their campaign and how come XVG started to drop after a series of rises?
Verge and the Crowdfunding Campaign
As we already know, Verge had its investors hooked by the Twitter announcement about the mystery partnership that is to be revealed in case they manage to collect all 75 million XVG. The goal is reached and the hype is still alive as we are all waiting for Verge to unfold their mysterious partner that cost 75 million XVG. However, even though the hype is still alive, Verge started to drop in its price today, and although the drop didn’t change its price significantly, it is still the fact that this currency is trading in the red against the dollar.
The most realistic explanation behind this recent drop lies in the fact that Verge (XVG) was growing exponentially with the growing hype that hovered around their March crowdfunding. Since many investors were buying XVG during the time the crowdfunding was live, the price of this currency was rising in accordance with the hype. Now, when the crowdfunding is over, the trading volume is dropping and with it, we are witnessing a dropping price as well. That doesn’t mean that XVG will continue to drop during the following days – in fact, crypto enthusiasts believe in quite the opposite.
Since we are still waiting for the unveiling of the mystery partnership that should be revealed on April 16th, it can easily happen that XVG manage to acquire a stable pace of growth, especially since the latest drop didn’t lower its price radically at this point.
As the date of the announcement of the mystery partnership is getting near, the dev team behind XVG is thanking #vergefam for supporting their crowdfunding campaign, stressing out that the acquired success couldn’t possibly be reached if it weren’t for XVG faithful investors and holders.
Since the conducted crowdfunding hosted by
dev team probably represents the main reason for having XVG doubling its price in only a week, making it appear to be one of the most promising coins of the year, investors don’t seem to be bothered by the most recent drop in its price.
Verge and the Market
Verge (XVG) had an amazing run in the past week as this current managed to double its price and go even beyond having its value doubled as it rose up for 56% in the course of only seven days. XVG even managed to acquire an amazing increase of over 20% in the course of only 24 hours, which made it one of the fastest recovering coins in the market during the last week when XVG started to rise after the market crash.
At this moment, XVG is experiencing a slight drop in its price hovering around -2% against the dollar, which means that XVG is now trading in the red. However, there were no radical changes in its price, so Verge can be bought at the price of 0.062$ per one unit.
Although Verge managed to bounce off with doubling its price as XVG took off from the market dip, this currency is still trading far below its all-time high which is marked at around 0.22$ per one XVG unit.
In case Verge would bounce off from the latest drop once again, continuing at the same pace of growth as noted in the last week, there is no doubt that Verge (XVG) would be able to reach its all-time high very soon, and even go beyond it.
For now, it seems that the further development of the current situation for XVG depends on the mystery partnership that cost more than 75 million of XVG and which should be revealed in approximately two weeks, on April 16th.