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Verge (XVG) Unexpectedly Surges by 11% After Code Malfunction

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Verge (XVG) is a well-known privacy coin that was believed to have a lot of potentials until it was discovered that its mining code contains a vulnerability that allows several types of attacks. After this discovery was made, the project was attacked multiple time, suffering at least three time-warp attacks, and even one 51% attack in 2018.

After the crypto community realized what has happened to it, the coin started losing support, as well as users. So much so, in fact, that its price dropped to barely a fraction of a cent throughout 2018, after it reached its all-time high of $0.27 in December 2017.

With that in mind, it is clear why a recent 11% surge surprised the crypto community, even after the project’s developers announced that they are considering a transition to PoS (Proof-of-Stake).

According to TradingView, the coin’s price at the time of writing is at $0.00626768, although this is once again closer to its regular levels. On March 3rd, however, the coin’s price surged to around $0.00705712.

It is unclear what caused the surge, or why the coin has dropped back down after the jump, particularly due to the fact that this was the largest change in the coin’s price since the bull run that ended on February 24th. Even then, XVG did not manage to approach this value.

The recent string of bad news regarding Verge only adds to the mystery, and even on the VergeCurrency subreddit, the coin’s community is questioning the event.

One theory is that the surge was caused by a March 1st tweet shared by Verge’s lead developer and founder, Sunerok. In a recent tweet, he supposedly accidentally shared a sign-up process that was supposed to be revealed yesterday, March 4th. The tweet was deleted afterward, with Sunerok explaining his error.

Verge suffered more than most in 2018

While 2018 was not a friendly year to cryptocurrencies, the fact is that not every coin suffered equally as much. Verge experienced both, good and bad in 2018, although its reputation may have been destroyed after the bad.

On the positive note, the project managed to partner with MindGeek, which is an adult entertainment company that owns Pornhub. However, many in the crypto community were questioning whether or not it is a good idea to associate Verge with this type of content.

However, such issues quickly became irrelevant after Verge started suffering time warp and 51% attacks, which also caused it to make numerous headlines. The project lost a huge amount of coins during the attacks, which eventually caused it to sink on the list of largest coins.

The issues also caused Pornhub to turn to TRON and Horizen, making Verge less exclusive as it previously was. For now, Verge seems to be returning to its former levels, price-wise. However, the project may soon shift towards PoS, if its developers choose to go through with their recent announcement.

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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 staceyjoy via Flickr

Altcoins

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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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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