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Will Verge (XVG) Overcome Negativity and Rise Higher?

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Verge

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

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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