Verge Spikes Thanks to its Latest Fundraising Plan Amid Crypto Market Correction

· 27 Mar 2018 in Crypto News, Home
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The cryptocurrency market is experiencing another correction, something that is quite usual in the environment, and Verge (XVG) followed the trend. Since December, when the crypto market reached its peak, Verge lost over 90% of its value. At that time, Verge was being traded at its all time high of $0.26 dollars. Now, in the middle of negative markets, Verge is the biggest gainer. Why? Here are the reasons.

Verge Spikes Amid Negative Cryptocurrency Market Sentiment

To understand why Verge is now the biggest gainer we need to analyse its latest fundraising and biggest plant. In order to increase the investments to this altcoins, the team has decided to launch a business strategy that is considered to be “the largest partnership in crypto to date.” The company has partnered with “a global organization with a vast network of high traffic sites.”

Verge Logo
Verge Logo

The developers decided to ask the community and XVG holders to raise 75 million coins in a few days. But things were getting a little bit complicated. On March the 26th, the community could only reach 20 million tokens, far from the 75 million coins requested.

But one unexpected thing happened. The privacy-based payments platform, TokenPay, appeared and decided to match donations up to 50 million XVG.

The Twitter account @Vergecurrency commented:

“Huge news! @tokenpay will DOUBLE all donations today above 50k until we reach 50 MILLION of our 75 MILLION goal! We need your donation more than ever! Provide wallet screenshot + tx id for proof! No proof, no double-up. Today is our FINAL day to get this completed! Let’s do this together.”

The company has reached the target and was able to gather more than 76 million XVG tokens. The strategy convinced many cryptocurrency investors and XVG owners and was able to give good results.

Now, Verge is the biggest gainer in the market increasing 25,74% and being traded around $0.04679 dollars. No other cryptocurrency was able to reach this price increase in today’s session. At the moment of writing this article, just 6 cryptocurrencies are operating in the green zone.

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