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Rebranding Verge (XVG) From Altcoin to Global Market Player

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Verge
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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.

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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

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Altcoins

Why ZCash (ZEC) Is Heading to $10k

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ZCash
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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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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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