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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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