Verge XVG) is undoubtedly one of the biggest losers in the recent crypto bear. It has dropped significantly since April and is now trading at a measly $0.022. However, these low prices actually make Verge a perfect buy, for an investor looking at Verge from the long-haul. There are a number of factors that in the near future, could see a huge price reversal in Verge and push it back to its glory days.
One of the factors that supports Verge XVG at the moment is possibility of a Verge debit card in the near future. A few days ago, the Verge team took to twitter to congratulate the Litecoin foundation for their partnership with TokenPay in purchasing a stake in Weg Bank. The Verge team also added something to the effect that this partnership had brought closer the idea of Verge debit cards. Many have interpreted this to mean that Verge debit cards will be a reality pretty soon. If this happens, it would mark the beginning a Verge (XVG) bull run, one that could easily see it surpass its peak prices.
That’s because a debit card would put Verge (XVG) in the hands of the masses. Even better is the fact that people would not just be buying XVG just for HODLing purposes, but to also spend it as an everyday currency. That’s a huge use case that places it among the very top cryptos in the market. Mass adoption is what cryptocurrencies need for crypto space to grow, and Verge would basically be leading from the front on this aspect.
On top of the Verge debit card, Verge stands to benefit immensely from the possible rise of Bitcoin ETF, and specifically the CBOE bitcoin ETF. That’s because the ETF would see the value of bitcoin (BTC) skyrocket, and pull the rest of the market with it. This correlation is quite visible in Verge today. Right now, Verge is up by about 4%. However, these gains are very much correlated with Bitcoin (BTC), which has also been performing quite well all through the day. This goes to show any positive news for bitcoin (BTC) are actually good news for Verge too. You will also notice that anytime bitcoin gains, Verge gains even more. This indicates that if Bitcoin were to shoot up to over $20,000, Verge could very easily hit a valuation of over a dollar.
Verge is also supported by the fact that it still has a name in the privacy coins market. It may have been hit by hacks that dent its reputation, but it’s still one of the better-known privacy coins. This will support its value in the market for years to come, and will help give it a bullish momentum when the whole market turns bullish.
With all these factors supporting it, Verge (XVG) could actually be a great investment at current prices, one that’s poised to make a major comeback.