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Is Verge (XVG) Getting More New Partnerships On Board?

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Verge
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After Verge started their first crowdfunding campaign, everyone was waiting impatiently for the revealing of the mystery partnership announced back at the end of March. However, after the announcement that Verge partnered up with Pornhub, XVG immediately started to drop. On April 17th when the partnership with Pornhub was announced, XVG lost over 30% of its market price as it seems that many of “small” investors were not happy with this outcome. However, Verge is still working on acquiring new partnerships, which could be more benevolently accepted than the story between Verge and Pornhub. So, let’s see which partners are waiting to seal the deal with XVG.

Verge and MoreFun

XVGWhale, a Twitter supporter for Verge tweeted a couple of days ago that MoreFun decided to drop the idea about ICO, which means that MoreFun will instead use integrated XVG wallet for onsite payments.

The thing about the mentioned tweet is that the news about a new partnership with MoreFun didn’t come from an official source, but from one of the supporters of Verge and XVG currency, so we can’t consider it to be more than an indication at this moment. The Verge team seems to be quiet, not only about this matter but rather embracing complete silence since Tuesday, April 17th, when the partnership with Pornhub was announced.

This is not a strange case at all as the XVG team probably needs to take some time in order to decide what the next step for XVG would be. Moreover on this case, since the lead developer was unavailable for giving statements at the given moment, one of the representatives from MoreFun stated that they have a new partnership inline. However, they didn’t say whether the mentioned partnership would be sealed with Verge.

On the other hand, XVGWhale has been an XVG supporter for quite some time, so we can probably take their word when they decided to tweet about Verge getting into a partnership with MoreFun, also stating that MoreFun will be using an integrated XVG wallet that will be used for in-game payments.

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The time will show whether the indication from the side of XVGWhale stands as a real deal. However, until Verge or MoreFun representatives decide to officially announce this news, we can only guess.

Verge and MindGeek

The most recent announcement that Verge is getting into a partnership with Pornhub, which resulted in an immediate drop of around 30% down in the market, was probably slightly misinterpreted by the press and the public likewise.

Although Verge is getting accepted as a payment method on Pornhub, one of the most popular and biggest adult entertainment websites, XVG didn’t partner up directly with Pornhub.

Verge team partnered up with MindGeek, which is actually an IT and marketing company that owns all major adult entertainment sites and it is said to have over 500.000 dollars in revenue on daily basis, which is needless to say an extraordinary achievement.

What MindGeek is planning to do for XVG is to make it more exposed to the eyes of the public which means that the reason we have Verge as a payment method on Pornhub is because MindGeek decided that it would be a great strategic move for XVG’s exposure to remind millions of people that are visiting Pornhub every day that they can use Verge for safe and secure payments.

Verge and Token Pay

It was originally thought that the mystery partnership that was to be announced as planned on April 17th was actually going to happen with TokenPay. Verge community has been for some time now implicating that TokenPay is going to pair up with XVG in order to bring crypto debit cards that would integrate XVG into the electronic wallet. The active community on Reddit claims that this partnership is going to happen very soon.

They might not be far from the truth as the two representatives from both team, team Token Pay and team Verge are having close collaborations followed with great publicity. Together, they are working on different meetups, workshops, and blockchain oriented meetings, so implicating that TokenPay might soon officially partner up with Verge couldn’t be that far from reality.

How is Verge doing at the Current Moment?

Unfortunately, Verge has gone down with the latest change in the market, embracing a minor wave of drops while it is being traded in the red as of the recent events.

Up till this point, Verge was doing pretty well while recovering from the market crash that went on for days, however, it seems that their appearance on Pornhub as a part of their partnership with MindGeek didn’t suit all their holders and investors likewise. That is how this currency went down in the market for 30% just in the middle of its rebound.

The reason for that case is said to be the above-mentioned partnership as the drop occurred immediately after the news was released on Tuesday, on April 17th.

At the current moment, Verge is trading in the red after the most recent drop of -2.68% against the dollar, while also dropping against BTC for 2.49%.

After the most recent drop, one XVG unit can be bought at the price of 0.068$ per one unit, which is still far from its record price of 0.23$ as recorded back in December of 2017.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Matt Robinson via Flickr

Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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