Since October 2nd, 2017, Vertcoin started another rallying that doesn’t seem to have an end. Many people are clueless as to how the price is going up but the traders love it. The 24-hour high is at $1.21 and we haven’t been up there since September 23. The reason why most people are wondering why the price has goneup around 20% in one day is because it’s mostly been a bloody crypto day. In other words, most cryptos are in the negative or in the red. Vertcoin also jumped from the low 100s to 92 in market cap ranking. We thought about it and we think here are a few reasons why people can be buying up more Vertcoins.
- Ledger Hardware Wallets – The Ledger hardware wallet is one of the most secure wallets to store your cryptocurrency. Vertcoin was one of the cryptocurrencies that the Ledger hardware wallet was going to include in the coins you can store. According to @etang600, he replied to a Vertcoiner that it will be included in the Ledger Nano S and Ledger Blue mid-October.
- More Miners = More Awareness – Miners often check WhatToMine.com and see which coin is paying out the most. It’s only fair the mine what will give you a quicker return on investment since you are paying big bucks for a GPU. There are people that will specifically mine one coin because they support it so much. As far as the most efficient and best ROI coin as of right now is Vertcoin. It is paying out $2.33 per 24 hours at the moment, which is about 1.8931 Vertcoins. With more miners now seeing Vertcoin sitting at the top, they are likely buying some too since it is very undervalued. Vertcoin has finally gone over a 1Th/s of power that is mining on its network, sitting at 1.07 Th/s.
- Vertcoin Trader – There was a new subreddit made yesterday for Vertcoin Traders. The subreddit is https://www.reddit.com/r/VertcoinTrader/. There isn’t a whole lot of activity going on but many people have been lurking. A total of 140 people subscribed in the first day.
**EDIT** While I was typing this, the hash rate jumped up to 1.29 TH/s. - Mobile Wallet Funded – Since Vertcoin is a community funded cryptocurrency, there are funds specifically set for each project that will propel it to the next level. The Android/IOS mobile wallet was fully funded. The mobile wallet for Vertcoin will allow easier easier coin storing, sending, receiving, and even paying for goods or services.
Short-Term Potential Likely Causing the Price Rally
- The Ledger wallet integration is going to be huge with big exposure for the coin. Just like miners could be just noticing it, many holder (or HODLers) that are into other coins will see Vertcoin and do more research into it.
- The halvening is coming up for Vertcoin and more Youtubers are starting to talk about it. The halvening is when the mining rewards get cut by half which is not the best thing for a miner but this can take the price higher as less coins are mined. The less coins in circulations, the higher the demand. This occurs for every 840,000 blocks that are mined. The next halvening is set to be around December 12, 2017. It can change but not by much, depending on how hard the difficulty gets for mining.
- Atomic Swaps had successfully occurred on testnet which drove the price to a high of $1.66 almost instantly. The technology behind it has not come out to the public yet to be able to easily use it but we’re getting there. Atomic swaps would be a big game changer. It will give you the ability to trade your coins with another coin that accepts it, like Litecoin, without having to sell it first and then buy Litecoin.
Here is the link for those who want to check this post out with better formatting.
https://coinpupil.com/2017/10/05/vertcoin-rally-beginning/