Once in 2014, Vertcoin briefly spiked around $10 USD. Since then, it had bottomed out near oblivion before mounting an enormous comeback.

The entire cryptocurrency market is steadily rising, but a few coins stand out, surging more rapidly than others. Vertcoin, in particular, is rapidly approaching its all-time-high, now passing $7.50 USD and continuing to rise.

What explanation is there for this sudden increase? It's possible that many new buyers are diversifying their assets by buying altcoins instead of relying solely on Bitcoin. Litecoin and Ethereum have seen strong increases in value, but Vertcoin is increasing its value twice as quickly as these coins. It might be perceived as a "value" coin, being so much cheaper than similar coins with similar features, like Litecoin. It has similar capacities to Litecoin with fast, cheap transactions and atomic-swap capabilities with Lightning network support, but also has advantages such as ASIC-resistance and plans for stealth addresses.

Another factor in play could be that the Vertcoin mining block reward will be halved soon. This will make it take twice as much work to receive the same amount of mining reward as before. It's possible that this increase is from buyers pricing in the increased scarcity of newly-issued coins after the halving.

It is also likely that some long-time crypto investors are eyeing altcoins as a good safe haven in case Bitcoin tumbles in value once CME futures open on December 18. This may cause further buying sprees in altcoins.

*Update: On Twitter, Vertcoin announced that Vertcoin Core 0.12 is now available, offering "performance improvements, new chain database structure, new SegWit address format and more!"

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source:

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