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Verge (XVG) Technical Analysis – Is Verge on The Verge?

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Verge

After bottoming out at the $.02 level back in mid-March, Verge (XVG) witnessed a steady rise into the month of April preceding its announced arrangement with Mindgeek, who owns Pornhub and other adult entertainment sites.

On the day of its announced partnership with Mindgeek, both investors/traders were treated to wild; volatile action, which witnessed XVG being whipsawed all over the map on enormous volume with the coin closing-out the session of 4-17-18 at $.0725 on greater than 6X its average daily volume. Talk about whiplash.

Nevertheless, things seemed to have calmed down since as it was apparent that both investors/traders attempted to make some sense of the arrangement between XVG and Mindgeek. With that behind us, let’s take a closer look at XVG from a technical perspective and drill in a bit by glancing at the daily chart below:

As we can observe above, XVG appears to have put in a bottom in mid-March at the $.023 level and was progressing smartly into the mid-April announcement where XVG was the recipient of a 350% move out of its lows. Additionally, Verge (XVG) recaptured both its 50 and 200-Day moving averages in the process placing XVG in a favorable technical posture where it remains today despite the wild action on 4-17-18.

Thus, while both investors/traders had to deal with the sloppy trading action of 4-17-18, which has subsequently harnessed the move, for the time being, XVG remains in relatively decent technical shape with the coin trading above its 20/50 and 200-Day moving averages, respectively.

However, although XVG continues to display decent relative strength, it will have to contend with the large volume red daily bar in order for XVG to regain its Mojo prior to its recent announcement with Mindgeek.

Therefore, moving forward, both investors/traders will need to see XVG trade above the $.118 figure and be capable of holding noted level before any further progress is attained, while the $.058 level, which just so happens to coincide with both the 50 and 200-Day moving averages, provides short-term support.

In answer to our title of, “Is Verge on The Verge?”, the simple answer is, not yet. However, we’ll leave you with some positive news. As we keystroke these words, it was just announced that Bitfinex will now support XVG on their platform, which ultimately, provides for additional liquidity and eyes.

Happy Trading!

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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 brian donovan via Flickr

Chart courtesy of Trading View

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. One of the ways to have a successful trading…

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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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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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