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Rebranding Verge (XVG) From Altcoin to Global Market Player

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When the Cryptocurrency market, on the whole, started to gain popularity over the last 2 years, few could’ve predicted that several cryptocurrencies would reach the very top of brand recognition. In particular, Verge currency, which was launched in 2014, and has experienced a massive jump in value, currently ranking it at 29th according to coinmarketcap.

Unlike before, The Verge currency has a well-established brand name, with a supportive community behind it. It has a 260,000 strong Twitter page as well as a combined 80000 community members on its Reddit and telegram channel. They are generally pro-active about the recent developments of the project, with Wraith Protocol, a long-awaited feature slated to be released. This would allow users to choose a public or private ledger when making a transaction.

When Verge was first launched, not enough importance was given to establish a globally recognized brand name. Indeed, when the currency first started attracting everybody’s attention, the Verge team realized the importance of re-branding to achieve their goals of mass adoption. The Verge team has always put emphasis on transparency, and this move is sure to positively affect Verge’s valuation.

Initial Changes: Verge was previously operating under the name “DogeCoinDark” and operated under the name until 2016 when they changed the name to Verge Currency. The move was aimed at making the currency more suitable for mass market adoption. Also, the name “Dogecoindark” indicated that it was a fork of Dogecoin, which was not the case. Hence an exciting new name” Verge” was chosen to develop an iconic brand for mass adoption.

Verge and the Current Market Scenario:

Since the beginning of the year, Verge has experienced remarkable success due to a number of factors in the market.  The currency initially exploded in value by almost 3000%, in line with the overall Cryptocurrency market. Much of the bullish sentiment can be attributed to John Mcafee’s support of the currency, where he predicted that Verge was going to hit the $15 mark. However, the Q1 slump for the year had a negative effect over Verge, with its value significantly dropping through February and March.

The Verge Team, however, placed an unorthodox pretense for their crowdfunding and promised to unveil a lucrative partnership at the end of it. This allowed Verge’s value to skyrocket against the bearish market, and Token Pay was unveiled as their new partner.

Partnership and Integration withTokenPay:

The partnership Announcement was directly linked with the crowdfunding announcement made earlier, as explained by TokenPay representatives. TokenPay would make Verge the first Cryptocurrency to get its own debit card if this is a success. This was later confirmed by the official twitter handle of Token pay, which announced the completion of the deal. The Verge Debit Card deal is expected to be in full force before the first week of May.

Final thoughts:

The majority of the currencies in the crypto-space, no matter how successful the project is, are still recovering from the overall market slump. Verge seems to be having a tough time compared to the others, as it is still trading in the red (-1.36%) at the time of writing. It was valued at a high of 0.072568 on April 22nd to $0.073044 on April 29th, suffering price drops in between. Thus, Verge functions more as an underdog against the larger coins in the industry, but slowly gaining traction. Much of the future prospects of Verge depend on the RSK implementation, which would introduce both smart contracts and enterprise-grade transactions into the system. Many analysts, however, have cited Verge’s Open source nature as one of the reasons for its slow development,  as other more centralized projects can overtake Verge due to more concentrated efforts.

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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 Saku Takakusaki via Flickr

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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