The past 24 hours have been a tough time for cryptocurrency markets. A large number of cryptocurrencies are losing value. Verge (XVG) is yet another victim of this market slowdown as the currency has lost over 35% of its price in the past 24 hours. The cryptocurrency was priced in at $0.06 and is now priced in at $0.04 - a fall of 35.09%.
When you give it a broader look over the past one week - the cryptocurrency peaked at a price of $0.095. From there, the fall is even bigger. The current price of $0.04 is the lowest Verge has reached in 2018. Moreover, at this point of time it is hard to say if the currency is likely to find a support because a number of supports have already been breached as the free fall of Verge continues.
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Verge price movement over the past 24 hours | Image: Coinmarketcap[/caption]
It isn't just Verge (XVG) which is losing price over the past few days as other cryptocurrencies such as Ethereum, Ripple and Tron too have lost a significant portion of their price. The market cap of Verge too has fallen. Last December, when Verge reached an all-time high, it's market cap stood at $4.2 Billion. However, this has fallen drastically and has reached a total of $586 Million at the time of this writing.
Privacy focused cryptocurrency Verge has been the talk of the town of late. There have been a number of investors who have shown immense faith in Verge's long-term success. With their Wraith protocol now into action - the future of Verge looks like it is in safe hands as privacy gets a solid boost. The currency shot to prominence when John McAfee tweeted about it and it surged in value.
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