The Verge (XVG) token has seen tremendous growth in the past week, with a 295% increase in price over the last seven days. It was trading at $0.006906 and the market cap has gone up by almost 400% in the past three weeks. The current bull trend started in mid-June and has been continually rising since then.
Investors and traders are enthusiastic about the current bull case for the token, but some crypto investors still remain sceptical of the upward movement. In this article, we shall explain why the Verge (XVG) token price is increasing.
Firstly, the Verge has seen an increase in trading volume which skyrocketed by 380% on June 4 to a record $507 million. Although the volume had dropped to $480 million at press time, it still shows high activity. There has been speculation that it could be manipulation by experienced crypto whales who are trying to cash in on their large XVG holdings.
In addition to the rising price and increased market activity, the chart for Verge (XVG) also shows a steady bull trend. It is important to be aware of the volatile nature of cryptocurrencies and to be cautious when trading them.
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