Yesterday we saw Verge take a significant jump up. Verge really stood out among its competitors in the light of the markets entering a significant decline.
Thankfully, that decline now seems to have subsided, Verge’s progression however hasn’t yet been halted.
The good progression of Verge may be down to a number of things, namely it’s recent Bitfinex listing, and of course, the speculation surrounding Verge approaching Spotify, in what looks like an attempt from the Verge community to get Spotify to start accepting XVG payments. This is an especially bold move, considering their current Mindgeek and PornHub affiliations.
At the time of writing, Verge is valued at $0.083 and is up 8.70%, we did see Verge tip $0.095 a few weeks back prior to the PornHub announcement however, the new movements within XVG certainly point towards this figure once more. Moreover, Verge has seen a significant decrease in market cap of late, perhaps the good spell in the Verge camp will see this rectified too?
Abra, is a mobile application which ‘stores’ cryptocurrency for off-chain exchanges via smart contracts. Yesterday, Abra announced that Verge would be added to the app, alongside Monero, NEO, NEM and Lisk.
— Abra (@AbraGlobal) May 1, 2018
The Abra press release states:
“We are excited to announce that we will be adding Monero (XMR), NEO (NEO), NEM (NEM), Lisk (LSK), and Verge (XVG) to the Abra app. You will be able to invest in 25 cryptocurrencies and 50+ fiat currencies through the Abra app.
We will notify you when these new coins are live on the platform in the next week or so! You will be able to exchange for these new coins by funding your wallet through a linked bank account or bank wire (in the U.S. only) or directly by depositing Bitcoin (globally).
Abra’s contract-based investment platform enables us to quickly add new synthetic assets to the app once they pass our rigid analysis around liquidity, contract market making, and other objective factors. We are working on adding more digital assets, so feel free to let us know in the comments which cryptocurrencies you want to see on Abra in the future. We really value your feedback!
We now have users from 75 countries transacting on Abra, the most active of which are The United States, United Kingdom, The Philippines, Canada, Australia, and Germany. Our most popular cryptocurrencies by transaction volume are Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), and Stellar (XLM). Stay tuned for more updates in the coming weeks!”
This is really good news for all of the currencies concerned but particular attention should be paid on the progression of Verge, in line with this and the Bitfinex listing.
As XVG continues to grow, it looks as if the currency has fully recovered from the trauma it was exposed to in the wake of the PornHub announcement. This announcement caused a big drop in the value and market cap of Verge, mostly as a result of mass selling through disappointment. The Verge community did feel let down and, sort of cheated.
This is mostly down to the hype surrounding the Verge announcement and not the partnership itself, Verge really did have us on the edge of our seats for near enough a month, just too inform us that they had partnered with PornHub. As a result, people recognised the niche market that this may attract and decided to back out.
Now, with more and more starting to invest in Verge we can consider two things, perhaps people are re-investing because they believe the value of XVG will rise once more, or maybe, more people are now buying PornHub subscriptions and thus need to make an initial investment in Verge to do so?
Either way, Verge seems to be on the rise once again, let’s continue to keep an eye on XVG and see which path the team decide to take from here, is Spotify next? How about Spotiporn?