Verge Halving Countdown

Verge (XVG) is a popular privacy-focused cryptocurrency. It works to provide holders with more privacy than Bitcoin, with the team behind the project aiming for XVG to become synonymous with decentralization and trustlessness. Part of that process involves XVG halvings.

When is the Next XVG Halving?

The next XVG halving is set to take place sometime in March 2024. For a more specific timeframe, you can take a look at our Verge halving date countdown above.

When Will the Last XVG Halving Happen?

As of writing this, there is currently no specific last XVG halving date set. This means the halvings could happen indefinitely, at every set block height!

What is the XVG Halving History?

In total, there have currently been 8 XVG halvings, with the upcoming one in 2024 being the 9th. The first halving took place in December 2019. Check above for a more detailed overview of each of the XVG halving dates.

What is XVG Halving?

XVG halving is a process that’s not too different from the halvings of any other cryptocurrency that employs this phenomenon, such as Bitcoin. In simple terms, when a “Verge halving” (some people also call it “halvening”) occurs, the rewards that miners receive from mining a single XVG block get cut in half.

Let’s take a step back, though, and talk about the actual mining process of the XVG token.

XVG Mining & Halving, Explained

XVG is a Proof-of-Work cryptocurrency. This essentially means that in order to earn some Verge tokens, you need to mine them, as opposed to a process called staking.

In other words, in this regard, XVG works similarly to Bitcoin. So, you have miners, mining pools, mining machines, and so on.

However, the one big difference between XVG and BTC is that Verge employs many more mining protocols than its counterpart. This, in turn, gives more options for the miners and makes the network more secure (at least theoretically).

How is all of that information relevant to XVG halvings? Well, whenever you mine cryptocurrency, you have the possibility to receive rewards once a block is mined. During designated XVG halving dates, these rewards get cut in half.

Before we continue, take a look at the table below to make things a bit clearer:

Table: XVG halving schedule

As you can see, with some simple maths, it’s easy to determine that the XVG halving dates take place every 500,000 blocks mined. At this point in time, it takes around 35 seconds to mine a single Verge block.

This timeframe, however, isn’t necessarily consistent and can range up and down depending on a few different factors. This is why the periods of time between each of the halvings aren’t set in stone - it’s also why no one can accurately predict the exact date of the next few XVG halvings, either.

What is consistent, however, is the halving process of the XVG mining rewards. So, you can be sure that the next halving reward after the upcoming one will be 1.5625 XVG, and the following one after that - 0.78125 XVG, and so on.

It’s a pretty sharp decline in a short period of time! If you were to start mining XVG in 2019, before all of the above-seen Verge halving dates, you could have earned 400 XVG coins per block - comparing that to 2022, where the rewards are only 12.5 XVG, the difference is vast!

How do XVG Halvings Affect the Price of Verge?

The entire point of the halving process is to inflate the price of an asset synthetically. The same is also true with XVG halving dates - since the rewards get halved, so does the number of coins entering the market, and with that, scarcity should drive up the price, as long as there’s a demand present.

However, what’s the case with Verge - does this theory hold true for the asset in question? Well, let’s take a look at the graph below:

As you can see, the XVG price trend follows the general halving logic in a pretty expected sense. While the coin hasn’t experienced any notable jumps in price before most of the past halvings, it’s observable that these events did have a bit of an effect on the positive side, albeit mostly a few weeks before the actual halvings.

That said, price-wise, the third XVG halving is obviously the most notable. Between the third and fourth halvings (January - September 2021), Verge reached a high of $0.068 per coin.

Was this all the doing of the actual XVG halving date? No, of course not. Like many other assets, the Verge halving happened to coincide with a generally bullish market sentiment - most of the popular crypto assets rose in price at this time.

This does not mean that the halving didn’t add to the price inflation, though - it most likely did! That said, it was a single part of a much larger process.

What are the XVG Halving Price Predictions for 2024?

Given that the direct goal of XVG halvings is to increase the monetary value of the underlying token, it’s no secret that investors are usually looking forward to these events. However, what are the actual Verge price predictions for the 9th halving in 2024?

Well, it’s safe to say that everyone’s going to have their own predictions based on just how biased they are concerning Verge, as well as how they view the market. Thus, any and all price predictions should be considered just that - entertaining and educated guesses, and nothing more.

The price movement of the Verge coin will depend heavily on the actual events surrounding the XVG halving date. The halving alone is unlikely to cause any significant price swings. However, the same cannot be said about major market news or important events coinciding with the halving.

In other words, if something major happens around the time when the next Verge halving occurs, it’s bound to cause a snowball effect and impact the price of the mentioned asset. However, only time will tell!

The Significance of XVG Halvings

It’s no secret that halvings in the crypto world are notable events. Some are notable on a global scale (Bitcoin is the best example of this), while others are mostly relevant to their own communities.

Where do the Verge halving dates fit in? Well, truth be told, they fall into the latter category.

While Verge is a pretty well-known crypto asset, the halving events that happen within its network don’t really create ripples in the broader crypto space. Of course, they matter significantly to two groups of people - XVG miners and investors in this cryptocurrency.

From the miners’ perspective, things are a bit complicated. On the one hand, halvings aren’t a good thing since they cut the rewards you receive in half. On the other hand, since the halving events should theoretically influence a positive price movement, this could be good news for any miners who are looking to sell their coins.

As you can see from the chart provided in the earlier chapter of the text, however, these price “boosts” aren’t always significant. Once again, it does depend on a variety of variables.

If you’re an investor in XVG coins, however, Verge halving dates are certainly something to look forward to. Some investors choose to accumulate coins and tokens until the halving event, with the hopes that they will be able to sell them for a profit.

Summary

With all of the main points of the XVG halving discussed and covered, let’s have a quick recap with some key takeaways:

• The XVG halving happens every 500,000 blocks;
• Since the block mining speed changes, it’s impossible to predict a specific date for the upcoming halvings;
• The next Verge halving date, however, should be sometime in March 2024 - you can check the countdown above for more information;
• Historically, the XVG halvings did impact the price of the Verge coin to mostly go up, albeit not significantly. The exception would be the third halving at the beginning of 2021, when the entire crypto market was experiencing bullish sentiments.

Whether you’re a miner, an investor, or simply a crypto enthusiast, in the most general sense of the term, XVG halving dates are certainly worth looking into, if not from a financial standpoint, then from a crypto education one!

Conclusions

By this point, you should have a pretty good idea of what is XVG halving, as well as about the history and future of this concept. As we’ve already established, the phenomenon in question isn’t all that different from most other crypto halving events out there!

As a quick reminder, if you want to know the exact XVG halving date, make sure to check out our counter above!