Created in 2014, Verge is an open-source cryptocurrency. It offers anonymous transactions by hiding the IP address and geolocation of its users. This year’s crypto market slump combined with two recent hacks that the coin has faced have doubled the negative impact to XVG price.
However, despite these recent setbacks, recent development points to there still being reasons for optimism on XVG price. Here we’ll detail out what might see a boost for Verge.
Bitnovo adds support for XVG
Recently, Bitnovo a crypto exchange platform decided to add support for XVG. A move that will see crypto users in Spain and Italy purchase XVG via ATMs through their over 20,000 stores. Bitnovo started operating in 2016 and has become a significant player in the crypto industry.
The platform announced Twitter stating:
“We also have Bitnovo exchangeable coupons to buy Verge, available in establishments like Fnac, Eroski, Carrefour, in Spain and Italy. A simple way to acquire #Verge.”
The company adds that users can quickly buy and receive XVG in their wallet. Also, they can buy anonymously using the platform’s vouchers and gift cards fast for users to purchase and receive XVG to access the platform, users also have the option of using prepaid debit cards or a mobile app (IOS and Android).
This move should bring new users to the Verge, and as a result, it will boost XVG price.
In another move that will boost the price of XVG, Crypto Planet – one of the largest and fastest growing e-commerce retailer using crypto has decided to add support for XVG. The platform is built to address the need for affordable shopping destination using virtual currencies.
It focuses on the accessibility of all kinds of products in the electronic and apparel space. Also, it allows people to use the currency of their choice to make purchases.
To motivate more users to use the privacy coin, they will offer discounts for purchases made with the Verge using the #ILoveVerge code.
In a Twitter announcement, the retailer says:
“We would like to congratulate @vergecurrency for successfully integrating with our Online Store. Verge Network Participants can now Shop Goods with $XVG. We are offering a 15% Discount on the First 1000 Orders Purchased with $XVG.”
Adult Website Payment Gateway
In another move that will add more users to the Verge network, Pornhub, the world’s leading adult website started accepting XVG on the platform. The announcement was made in April. Corey Price, the CEO of the adult website, said that Verge offered security and convenience. Something that makes XVG suitable as a means of payment when compared other crypto coins.
The official statement published on the website read:
“The future has come. In our efforts to keep current with our community’s privacy and payment preferences, Pornhub will now be accepting Verge as a means of payment for services like Pornhub Premium and more, on our platforms. Building on Verge’s core values of security, anonymity, and practicality, the introduction of this cryptocurrency as a means of payment Pornhub signifies an important foray into the future from the industry that is always on the cutting edge of technology.”
More details on the partnership can be found here, detailing also how this may affect Verge’s visiblity and XVG price.
We’ll start our T.A. section with some bullish analysis, showing a high upside for XVG price. Bouncing off current levels and shooting upward. It’s unlikely but it can show the bullish potential if Verge sees a flush of investment coming in.
This particular user sees a lot of positivity on the Verge project. They listed out several reasons, like:
- Future demand for privacy coins
- Speculation (adds on more investments)
- Institutional Investors into unanimous currency
- Smart Contracts
- Media Hype for privacy coins
- Bullish MASSIVE accumulation pattern with W pattern
- Newer partnerships to be released
With these in mind, the prediction made is for an XVG price minimum of $.25 by end of year. We’re not quite sure that’s going to happen. With just over 2.5 months left in the year, Verge would need a lot of help to make that jump (over 40%). Likelier is that we’d see XVG price go up steadily if the market recovers, somewhere near $.20 as a bullish prediction.
Other analysts tend to agree—there’s bullish potential in Verge price, but perhaps not 40% in the short-term. Here’s another chart showing that analysis in relation to XVG BTC ratio
Verge has made some headway in adoption that other coins have yet to see. It’s looking like we’ll wait well past the end of 2018 to see how that influences XVG price however.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology