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Verge is attacked for the third time: here is why you should not panic

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Verge
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It has barely been a week since Verge was in the headlines with concerns about an attack on its network. Just recently news reports indicated that the privacy-centric cryptocurrency has been attacked for the third time leading to growing concerns by the Verge community over the future of the coin. Verge XVG has been in the headlines lately especially after a post on BitcoinTalk by a user named ‘Ocminer’ claimed to reveal data that showed a 51 percent attack on the Verge network. The claims were confirmed by a post on twitter from @Vergecurrency that acknowledged a DDoS attack on some mining pools.

Are the attack claims Fake news?

With the recent news circulating about Verge’s third attack, the crypto community has become concerned with a series of altcoins being questioned for their level of security as well. Some of the responses on most online forums included users on Reddit who were astonished by the turn of events some even calling it a joke and fake news.

In response, the Verge team has retweeted a post on twitter from Kris Chase (who is the marketing and operations head at verge), in which he mentioned that Verge was building a new codebase that will soon be implemented. He also mentioned that the company is working on other technological developments that will benefit the platform’s security. He finished his post saying,

Let’s get back to work while the haters keep spreading #fakenews.

Apart from that, the verge team has also received mixed reactions from the community with some encouraging the team to keep working on the platform and make it more secure while others criticized the team for allowing the attack to happen for the third time. However, the big question has been whether Verge network is truly under attack or are these reports merely fake news being spread to hurt the value of XVG.

Verge coin moving forward

All in all, the stories about an attack on Verge’s network for the third time are not confirmed and however they turn out to be, it’s pretty clear that Verge is making progress amidst the turbulence. As it is Verge has recently been listed as the only cryptocurrency payment option on MyFitStuff.

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For the uninitiated, MyFitStuff is an e-commerce shopping platform that only focuses on selling merchandise in the fitness industry. The platform is now set up to accept Verge XVG as payment on their Los Angeles based online shops. This adds up to other partnerships that Verge has been working on over the past few months posing a positive picture for the privacy-centric coin.

In the long run, there is no coin that is perfect, and even though the XVG network has been under problems in terms of network attacks and security, its core team is made of individuals with a proven purpose and vision. You just might want to hold on to it for a while till everything is clear.

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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.

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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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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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