Verge (XVG), the much maligned privacy token, simply isn’t able to catch a break right now. Its price has been on a continual slide ever since the Pornhub news broke, mostly due to the project being rather incompetent and exposing their currency to three different 51% attacks. Much hype was raised around this mentioned partnership, as if it was supposed to fix every behind the scenes issue that Verge clearly has plenty of. Even after the partnership was announced, it became clear that it only meant that Pornhub will use Verge as a payment option and nothing more. There was even some talk that Pornhub was reluctant to cooperate but XVG developers paid good money for it to go through.
The coin seems to be on a constant downward spiral. Its price dropped from 0.08 USD in early May to current 0.02 USD. It shows no signs of leaving its current trajectory as it suffered a drop of 13.02% in the last 24 hours, which coincided with Bitcoin going on a bear run itself in that same period.
As it stands, Vergefam doesn’t have much to be happy about, even though their unfaltering dedication to their coin will hardly be harmed by a lack of proper developments (it will probably take XVG announcing Carlos Matos as the coin’s official ambassador for them to start worrying). Still, to not harp on the token too hard, some positive updates have been noted as of lately.
Platforms using Verge as a payment option are starting to roll in despite the FUD around the coin (or as a result of XVG devs making offers that cannot be refused). Bamb-U, an Australian company that makes unique wooden watches, recently enabled Verge payments to its customers. Not sure who would need privacy while buying a wooden watch but I digress, adoption is adoption after all. Add there the recent announcement by Changelly, an exchange that previously introduced and then disabled XVG trading on its platform, that they are re-enabling the token as a part of their portfolio, due to “stabilized market conditions” around it. Brazilian exchange coin2001 also confirmed that XVG will enable XVG trading, making it the first Latin-American platform to do so.
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