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.
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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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.