Verge (XVG) – The Boot: Verge Currency, formerly known as DogeCoinDark emerged in 2014, came out into the market and designed to purposely fulfill for the people and for their everyday use. A primary selling point of Verge is that it allows its patrons to maintain their transactions in a private manner.
A month ago, Verge currency was part of the top 25 cryptocurrencies, they were rank 10 specifically. But on May 12, 2018, Verge slipped and was booted out of the top cryptocurrencies and is currently in the 29th spot.
Verge’s network value plummeted below $1 billion USD, most of the analysts did not expect that the sudden dropping of Verge, even after the majority of people sold their tokens. It is currently undervalued in the market after their partnership with Pornhub®.
A Blooming Partnership
Verge is facing rough days ahead based on the market, regardless of their recent partnership with the adult website; Pornhub®. Analysts speculate that the recent partnership with Pornhub® is not a bad move; however, it is more about the false hype created around it. This partnership publicity move was in hopes to gain the market’s attention to further invest in Verge, it has sadly flopped.
For those who don’t know about this partnership, here is a quick rundown of how things occurred.
On March 26, 2017, it was announced that a new partner will be pairing up with Verge. However, the announcement was later delayed up to April 16, and then the announcement finally pushed through the day after; making things finally official.
There are, of course, people skeptical of this partnership. Most of the general outcry from the public is that the majority of porn is free. There are only a small number of those who subscribe to the premium porn that Pornhub® normally offers their patrons. The amount of accessible porn on the market is high and some websites offer free HD adult videos, which is mostly the reason as to why some adults prefer to buy a subscription.
While this partnership allowed other websites such as Brazzers® and Nutaku®, both in the market of adult-themed industry, while the latter is mostly focused on adult-themed games. The payoff should be high theoretically, seeing that the market of the adult industry is quite large. But commonly, most of its frequent subscribers simply go for the free porn; after all, it is free.
The Money Shot
If you look at this from a bigger perspective, the idea isn’t that bad. You will be able to buy subscription using cryptocurrency and enjoy the anonymity behind the screen. Not only that, you get to watch HD porn! Another hidden bonus would be, buying your monthly subscription would not reflect on your bank statement. You will be free from those piercing, judging eyes from the people around you. Sounds like a sweet deal right?
However, the devil lies within the details
First, you would be required to own XVG, and then converted to Bitcoin just to buy XVG. It is simply too tedious if you take a look at it in a more micro-scale. Just how many people would really go through all that trouble? Sure, the idea is appealing for those who already own XVG, but what about those who just want to avail the subscription through Verge? It isn’t really a convenient way to simply go to your favorite adult website subscription when you can simply use your own credit card. But then again, you will have to suffer from the judging looks of the people around you when they get to hold your bank statements.
The Struggling Verge
After a month of the partnership of two giants, you would expect that the value of Verge XVG would have plummeted upwards. But that isn’t apparently the case, at the time of this writing this article. The current standing of Verge XMG is at the 29th place. Wherein, a month ago, the rank of Verge was on the 10th position.
Here is a clear-cut comparison of data.
May 15, 2018, Verge XVG (Rank 29)
Market Cap 24-hour Volume
$ 901,009,631 USD $27,969,400 USD
April 15, 2018, Verge XVG (Rank 10)
Market Cap 24 hour Volume $ 1,287,033,059 USD $140,372,000 USD
With the industry as big as Pornhub®, it is a big surprise that the value of Verge declined somewhat. Supposedly, it should be going up and not the other way around. A few hours later after the announcement has been made, a lot of its patrons simply abandoned ship. Perhaps, this is one of the aspects as to why Verge slowly sunk.
But that doesn’t mean that Verge was completely abandoned altogether. There were still some patrons who supported Verge and held on to their coins.
The Verge team has work cut out for them, seeing that the numbers do not lie, hopefully, there are other beneficial partnerships to boost the value of Verge and put them higher in the market.
According to analysts, Verge will struggle to get back to where they were if they don’t make their move on.
But all is not lost. If Verge is undervalued in the market because of its constant decline from the market, this is attractive various value-investors. That is hoping that one day the trade-off will be valuable and the prices skyrockets.
Last Month’s Analysis
While the value of Verge was on the downward spiral, the month of April was kind enough for Verge. Verge was constantly trading in the green zone, which means a good thing for the cryptocurrency. Verge is still in recovery prior to the partnership Pornhub®. The value of Verge prior to the partnership was higher as compared after the deal was made. It is clearly evident that Verge is still in its recovery path into gaining what they were in the past and to climb the ladder as one of the top cryptocurrency. It is rather quite obvious that Verge is on a rather arduous journey to climb up the ranks. Here is to hoping that the month of May is a much better month for Verge.