Why Verge (XVG) Price Drop Shouldn't Worry Investors

1559 1 0 1 2 0 (0)


Verge (XVG) has been at the attention of many with the developments witnessed in conversation within its community. In fact, the echo of negative news impacting the prices of cryptos seems to have taken even a greater effect on XVG as its prices plunged quite deeper than anticipated. The platform's new partnership with Mindgeek Inc. has had a part to play in the fall of the crypto's price as investors overlooked their partnership. Like other cryptos, Verge (XVG) has had its rise and falls just as other coins, hence the huge fall in price may have been overhyped.

Why XVG Dropped More Than Expected

1. Bad news and speculation (FUD):

Bad analysis and speculations from the news have a greater impact on the prices of digital assets. The crypto market has been bearish, hence prices of coins keep to fall and are not stable for long. Verge (XVG) since the cryptocurrency market collapse from an all-time high in mid-January, has seen a lot of negative news raining down. There have been two 51% hacks on the platform that has caused panic among investors leading to a massive selloff of the coin. Comparing XVG to similar hacks on other cryptos such as Ripple (XRP), XVG was in a sea of sharks and hence, investors advised themselves to sell off their holdings to any negative news heard, FUD. The third report of the same type of hack on XVG proved to be a false alarm giving investors no worry in HODLing their tokens.

2. Mindgeek Inc. partnership popularity:

Verge's partnership of the year so far has been Mindgeek Inc and their partnership has lately received the attention of many. No other partnership was given mass attention in the cryptocurrency space as Verge Foundation partnership with Mindgeek Inc; the parent company of Pornhub and Brazzers adult sites. Verge (XVG) then became the first crypto to be accepted on adult site such as Pornhub. The partnership created mixed feelings across the cryptocurrency communities as to whether the partnership was advantageous or a total failure. On the side of investors, the outcome was very clear as the price plummeted to $0.025 USD per token. This came as a reaction to Justin Sunreok, CEO of Verge Foundation, termed the partnership as its groundbreaking partnership of the year.

Nonetheless, Verge's claim led to a loss of over 150% value in just a few hours after the announcement of the partnership. However, XVG gained the attention of the public through social sites and mass media opening a new market to the token. All that XVG awaits is for a price retraction on the market. The privacy offered by the coin is functional, the coin is cheap at the moment, and it is has managed to gain investor's attention and attracted many.

Conclusion 

Verge (XVG) currently trades at $0.0251716 dollars, representing a slight 3% drop in the last 24 hours. The coin is ranked 37th on Coinmarketcap listings with a total market capitalization of $367,950,053 USD. To add up, Verge (XVG) for the past three months had their lowest price at $0.0208013 and highest in April. The coin is not done yet as the bearish in the market will probably come to an end, if not soon. XVG's sharp fall in price should not be a key feature that investors should look at, rather they should bear in mind its capabilities among other assets.

More from Hade Platform:


Sign up HERE for FREE access the world's fastest-growing, most powerful research platform for stocks and cryptocurrency, MatriX!


Disclosure:

I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive content


Comments (0)

Recent Updates

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Consumer Healthcare Total Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Consumer Helathcare Other of which Gold Bond Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Vaccines Polio/Pertussis/Hib Vaccines (incl. Hexaxim/Hexyon, Pentacel, Pentaxim and Imovax) Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Vaccines Influenza Vaccines (incl. Vaxigrip, Fluzone HD, Fluzone, Flublok) Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Vaccines Meningitis/Pneumo Vaccines (incl. Menactra) Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Vaccines Adult Booster Vaccines (incl. Adacel) Revenue