Okay, I know what you are thinking. Justin Vendetta never said that the price of Verge would hit $12 by the end of the year. And yes, while he has not said outright that Verge will hit that price point, he has pretty much implied it.

Verge has been on a tear lately and is one of the few cryptos that is going against the tide. Despite the fact that Bitcoin is dropping hard, and the entire crypto market is submerged in a sea of red, Verge has risen over 30 percent in the past week. This is largely to do with the partnership that Verge has recently confirmed.

Although details and the name of the partner are still being kept under wraps, it is widely being touted as the “deal of the century” and the “largest crypto partnership to date.”

Vendetta’s Words

As everyone by now already knows, Verge launched a crowdfunding campaign where they asked the community to donate 75 million Verge coins in order to fund a partnership. The goal was met, and now the entire crypto world is eagerly waiting for April 16 to come around when the name of the partner is officially revealed.

During the crowdfunding process, Vendetta had been the ultimate hype-man, hyping the partnership up to epic proportions. While you could argue that hyping up the coin and getting funding is his job - and he obviously did it successfully - he did make some very ambitious claims in the Telegram group.

Here is a screenshot taken from the conversation:

How does this mean $12?

If you understand how a coin’s price is derived, then some simple math will lead you to your answer.

The total cryptocurrency market cap currently sits at around 280 billion dollars, nearly two and a half times smaller than the all-time high of over 800 billion dollars. By the end of 2018, many experts predict that the total cryptocurrency market cap will be at least 1 trillion dollars, with some very bullish analysts even claiming that it could hit 5 trillion dollars.

Let’s take the average of the two and assume that the market cap will be around 2.5 trillion dollars by the end of the year.

This would be around nine times the size of the current market cap. Now, in order for Verge to be a top three coin, it would need to replace either Bitcoin, Ethereum or Ripple. Ripple is currently the third largest coin, with a market cap of 21 billion dollars. Multiply that by nine, and it would have a market cap of 189 billion dollars. If Verge is expected to be a top 3 coin, its market cap would need to surpass 189 billion dollars, which would put the price of Verge at - that’s right, nearly $13.

Of course, you can’t blame people for being skeptical seeing as Verge’s market cap at the time of writing is only roughly 575 billion dollars.

Even at its all-time high of over 2 billion dollars, it is a bit of a stretch. However, anything can happen in this crazy crypto world.

And Justin Vendetta is no idiot, he of all people should know the immense growth that would be needed in order to secure a spot in the top 3 coins. To make such a hefty claim means he either has such immense faith that this partnership is going to propel Verge straight to the moon, or he is pulling off one of the greatest bluffs in crypto history. I guess we’ll find out on April 16.