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Verge (XVG) Suddenly Skyrockets Nearly 300%: Possible Reasons

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Tue, 4/07/2023 - 6:08
Verge (XVG) Suddenly Skyrockets Nearly 300%: Possible Reasons
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Verge (XVG), a cryptocurrency known for its emphasis on privacy and anonymity, has skyrocketed nearly 300% over the past week, according to data from CoinGecko.

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With its impressive 24-hour trading volume of $489 million and a market cap reaching $96 million, the O.G. altcoin has captured the attention of crypto watchers worldwide.

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First introduced in 2014, Verge gained popularity in 2017 during the Bitcoin-driven bull run. Its unique selling proposition rests on providing a fast, efficient, and privacy-focused blockchain for transactions.

"Dino coin" renaissance 

Some commentators have coined the term "dino coin renaissance," indicating a possible shift in the broader market sentiment from "meme coin" mania to the resurgence of these so-called dinosaur coins -- cryptocurrencies that have been around for a while but may have been overshadowed by the frenzy of newer, trendier tokens. 

Verge is not the only old altcoin on the rise. Other  "proof of work dino coins," which recently made substantial gains, include Bitcoin Cash (BCH) and Litecoin (LTC).

Only time will tell whether this trend holds, but it has undoubtedly sparked a resurgence of interest in the 'veterans' of the crypto world.

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