Nairobi – Monday, August 27, 2018
- Verge (XVG) among a list of altcoins to be integrated in over 1000 stores in Colombia by PundiX.
- Over 120 companies around the world accept XVG as a payment currency in their stores and online markets.
- Verge Foundation closes in on introducing XVG debit cards.
- XVG is currently trading at $0.014060 USD across major exchanges.
The recent months of slander and FUD mongering amongst most cryptocurrency communities about the Verge platform caused a huge fall in price since the Mindgeek Inc. partnership was announced. The partnership caused many investors disappointment after Justin Vendetta had earlier in the year termed it “partnership of the year”. This caused a major sell off of XVG privacy coin as prices fell from $0.11 USD, hours before the partnership was announced, to $0.06 USD, over 50% loss. The bearish run that followed in the general cryptocurrency market caused an even bigger price contraction to $0.01104 USD as of August 15th 2018.
Misconception of the PornHub partnership deciphered
Verge Currency integration as a payment system to Pornhub and Brazzers adult sites, affiliate companies under Mindgeek Inc., was long taunted as a poor partnership but the sentiments are changing. More companies have moved to integrate cryptocurrencies and adult sites would not be left back. The title, “Partnership of the year” may have been an overstatement but it is no way a partnership to criticize as Verge privacy coin offers a real use case for these adult sites – Privacy.
The partnership however has started to be seen as a futuristic adoption channel by Verge currency as more adult sites adopt cryptocurrencies as a payment system. Litecoin (LTC) and Tron (TRX) are some of the big names in the blockchain industry that have taken a similar route as the overall acceptance of crypto in the adult industry grows.
The 30% soar in price by Verge (XVG). Is $0.05 USD (250% gain) a possibility?
Following the overall sentiment change over the Pornhub partnership, the strong bearish trend has reversed. The price of XVG soared by over 30% in the last fortnight increasing the optimism of VergeFam, the XVG community, and the development team as they target the price of the coin to hit $0.05 USD before the end of 2018. The following recent developments below will be key in pushing XVG past the $0.05 USD mark.
However, the change of misconception of the Mindgeek partnership was not the only factor to come into play for the increased optimism across the Verge community…
1. PundiX integrates Verge (XVG) in 1000 stores across Colombia
The partnership between PundiX and Colombian investment firm Manticora Capital, will see a couple of cryptocurrencies adopted as a payment system across stores in Colombia. Over 1000 stores will receive point of sale devices that will allow customers to pay using Bitcoin (BTC), Ethereum (ETH), NEM (XEM), Qtum (QTUM), Achain (ACT), Stellar (XLM) and Verge (XVG). Having Verge currency as a payment system on such a huge scale across the globe will improve adoption rates of XVG which will see the price rise to above $0.05 USD in 2018.
2. WEG Bank and TokenPay working on Verge (XVG) debit cards
In an announcement back in June, TokenPay CEO, Derek Capo, confirmed that the company was now fully in control of the German bank. TokenPay had confirmed that once the ownership is complete they will work on introducing cryptocurrency debit cards starting with Verge (XVG) and Litecoin (LTC).
The security and online privacy associated with debit cards offers a channel to further adoption of the Verge currency as users want an easy and safe way to pay using crypto. Notwithstanding, TokenPay is one of the most vocal corporations targeting the integration of current financial systems with the blockchain industry.
In conclusion, the understanding and decrypting of the misconceptions sold by FUDsters, will be key to pushing for adoption of the XVG privacy coin hence an increase in price. The continued partnerships with merchants, PundiX and TokenPay will push the adoption rates even further. Nevertheless, for a price of $0.05 USD to be achieved by the end of the year, it will be down to the overall market stance, the partnerships made by Verge Foundation and the overall misconceptions about Verge being deciphered.