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Verge (XVG) is Asking for Donations to Unfold a Mystery Partnership

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XVG

Verge was one of the currencies that started out this week with some major gains. That is how XVG managed to rise up from the market dip with gaining over 22% on its price in the course of only 245 hours. But, as Verge started to trade in the red again as the end of this week on Sunday, March 25th, we are focusing on XVG’s latest move – asking for donations in order to reveal a mystery partnership. Sounds strange? Let’s see how is Verge doing at the current moment and find out what the mysterious partnership is all about.

Verge and the Latest Announcements

Maybe one of the biggest reasons for having Verge growing promptly in its price might be the fact that the dev team behind XVG has had some major announcements during the past week that obviously caught investors’ attention.

However, the news we picked up don’t seem so positive at all – it rather seemed like an attempt of over-hyping the importance of the released announcements.

From the technical point of view, Verge has a lot to offer to the world of cryptocurrencies and blockchain technology thanks to its newest addition, Wraith Protocol. Wraith Protocol allows users to easily switch from operating with data on a public ledger with data operations on a private ledger on Verge’s blockchain system. That means that users can choose for the first time whether they want their data visible on the public ledger or only accessible on a private ledger. In case data transfer demands transparency, users can easily switch Wraith Protocol off and have their data visible through the public ledger.

Moreover, more and more people are accepting XVG as a form of payment, so Verge seems to be doing pretty well in general.

Verge is a currency with 555$ million in market capitalization, so it is a bit strange how their public relations agents are promoting a crowdfunding campaign. On March 19th, Verge announced via its official Twitter account that they are launching a crowdfunding campaign. In this statement, Verge team announced that they need to collect funds so they would be able to implement some very important elements regarding Verge’s system.

It is almost unbelievable how Verge is asking for donations from their holders and investors when it is clear that this currency has a market cap of half billion dollars and without clearly stating what they need donations for. In the first announcement they have made regarding the case of organizing a crowdfunding campaign, they only mentioned that they need to implement some important elements. No detailed info about the “elements” was provided.

Although many holders and investors were hooked, many holders showed their negative surprise through Reddit threads, unable to understand how is Verge able to ask for donations with 555$ million in market cap when there are tons of “small” weak coins out there and yet their teams are not asking for donations.

Soon after this announcement, Verge started to rise in its price, so it seems that the announcement they have made a week ago did have a strong influence on XVG fans.

Three days later after the first announcement where Verge was asking for donations, XVG released another tweet. In this tweet, they have released another call for action once again asking for donations.

Only this time, they included a mystery partnership that should only be revealed if the holders manage to help them collect 74 million XVG during the course of only 4 days. Verge has announced on this occasion that they will be revealing the name of the company on Monday, March 26th in case that 75 million XVG are collected by that time.

Immediately after the announcement was released on Twitter, XVG started to rise dizzily. The announcement also stated that the partnership that will be potentially revealed on Monday is the biggest partnership in the crypto world to date.

Does this seem like an honest invitation for investors to join new ventures for their favorite coin or does it sound more like over-hyping news made to collect more XVG in the shortest period of time possible?

With a risk to sound too criticizing towards a coin that is actually worth a lot in the technological sense, it seems that Verge is using over-hype strategy in order to sell as much XVG as possible.

The most important thing, in this case, is that there are lots of Verge fans raging on Twitter and Reddit while openly showing their disappointment in their favorite coin due to the latest announcements that seem like a desperate attempt to collect funds.

Whatever the case, dev teams behind cryptocurrencies should definitely keep their partnerships transparent to the public or at least to their investors and holders instead of using a mystery partnership in an over-hyping tone for collecting profit.

Even though if it’s true that none of the dev team members has anything from XVG or even owns XVG while having none of the profit being collected by having XVG sold, why would they use mystery partnerships for collecting money without providing any information crucial for the crowdfunding project?

How is Verge doing at the Current Moment?

After a pretty good week where Verge managed to pull off getting out of the market crisis with up to 22% of rises in the course of only 24 hours, XVG seems to be losing some of that velocity as it started to drop down on March 25th at the end of a very prosperous week.

After the latest change in its price, XVG is now being traded in the red with having a drop of -2.88%.

At the current moment, XVG is trading in the red and can be bought for 0.041$ per one unit, which still makes it a solid good investment for investors and holders of all profiles.

We will be updating our subscribers as soon as we know more. For the latest on XVG, sign up below!

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 Stewart Baird

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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