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Will Verge (XVG) Overcome Negativity and Rise Higher?

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Verge
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On 12th March 2018, Verge (XVG) had reached a market cap of $590 million. Today, the market cap shows (at the time of writing) approximately $511 million USD. From yesterday, according to Coinmarketcap.com, there has been a 5.98% fall in price. At the time of writing, the day’s high price was $0.0355 USD while the low was hit at $0.0347 USD. On March 12, at one point the market cap showed $597 but at the end of the hour, the market cap displayed was $590.

XVG on 11th March had traded on 11th March at approximately $0.0388 and the market cap was near about $571 million and the 24h trading volume showed $8,144,640. Compared to this there had been a surge of 4.84% on 12th March. However, after two days, on 14th March it was down by 5.98% (24h). Considering high volatility features of the cryptocurrency market, this fluctuation may seem to be nothing other than the result of volatility. But, a general downtrend of XVG has been observed in this month. The crypto coin has yet to master and maintain an uptrend that would push past the $0.040 resistance level. From 6th March to 12th March 2018, the XVG price charts (coinmarketcap.com) had shown a constant drop. This had helped in creating a negative environment around the crypto coin. After the upsurge in price at one point on 10th March (the price had just surpassed the $0.042 level), the price had again increased on 12th March. After that, the price movement had shown fluctuations (that is not so unusual) but has yet failed to touch even the $0.040 mark.

Reason for the Negativity

The failure of Wraith Protocol in providing privacy and anonymity to the Verge users is believed to be one of the major reasons for this negativity. This letdown of the protocol has made the Merkle list Verge (XVG) in the 5th position of the “Top 5 Crypto Fails of 2018” on 9th March 2018. This has also contributed to the overall negative sentiment. According to sources, the major complaint about Verge is regarding the privacy fiasco with some people even saying that it was a sure shot failure from the start. These allegations may not be entirely true but they can have a profound impact on the investors. However, it is to be understood and remembered that the blockchain technology and cryptocurrencies are still “new system” and are undergoing many changes (read as developments) and upgraded features are being launched every other day.

A Glimpse at the Well Known Features of Verge

  • Verge is still now the one and only cryptocurrency that has a TOR Android wallet. The TOR Android wallet comes as a latent service. Furthermore, this wallet does not operate on clearnet.
  • Verge is also the only crypto coin that runs I2P Electrum.
  • The company also features I2P Android Wallet.

The above-mentioned features give an edge to Verge (XVG) over other privacy-oriented crypto coins. Some experts say that full incorporation of Wraith protocol into the Verge platform is more likely to attract the attention of the investors and traders.

Closing Thoughts

The big question now is whether Verge coin will bounce back after this negative sentiment. The cryptocurrency market experts say that the time has not yet come to lose hope on the crypto coin and neither is there any need to spread FUD about XVG. However, the ranking of XVG on coinmarketcap.com has dropped from 31st position on 12th March to 32nd on 14th March. The experts still believe that Verge is one of the most promising cryptocurrencies of 2018.

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 abhijit chendvankar via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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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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Altcoins

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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