According to data from CoinGecko, the value of Verge (XVG), a cryptocurrency known for emphasising privacy and anonymity, has increased by about 300% over the last week.
The O.G. altcoin has drawn the attention of cryptocurrency aficionados all around the world with its amazing $489 million in 24-hour trading volume and a market valuation of $96 million.
Verge, which was first released in 2014, rose to prominence in 2017 as a result of the bull run fueled by Bitcoin. It bases its unique selling proposition on offering a quick, effective, and transaction-focused blockchain.
“Dino coin” renaissance
The phrase “dino coin renaissance” has been used by some commentators to describe a potential shift in market sentiment away from the “meme coin” craze and towards the resurgence of these so-called dinosaur coins, which are cryptocurrencies that have been around for a while but may have been eclipsed by the frenzy of newer, trendier tokens.
Verge is not the only legacy altcoin experiencing growth. Other “proof of work dino coins,” like Bitcoin Cash (BCH) and Litecoin (LTC), have lately experienced significant rises.
Only time will tell if this trend persists, but there is no doubt that it has reignited interest in the crypto industry’s “veterans.”
