Verger (XVG) was one of the most promising privacy coins in the market up to the end of 2017 when things stated working against the platforms vision. This was soon after their marriage with PornHub, a global leader in the pornography sector. This has seen the price of XVG nosedive and adoptions drop at an alarming rate.
Soon after inking the PornHub deal, the platform was slapped on the face by a 51% attack that killed all the hopes of the XVG price inching up. No one expected the coin to partner with an outfit associated with pornography and before the dust settled, the privacy function nature of the platform was taken advantage with a second attack in one year driving investor confidence to its lowest.
Verge (XVG) Developer Team Panic
These blunders appear have sent the developer team into to panic mode and re-thinking their route to market strategies. Verge is a young player in the privacy coin market and to get investor confidence, they need to go for collaboration deals that the investment community is comfortable with. PornHub deal should have come later and instead, the platform should have gone for strong strategic partners.
Since the coin realized its blunders, it has been silent and no major development updates has been made and this is a huge concern for the community and XVG holders. This has seen the coin price drop further, an indication of a coin that is now riding on its community’s goodwill. The privacy coin concept continues to attract a lot of interest and Verge needs to put their house in order first before thinking of mass adoption.
Verge Face Saving Mission
In a bid to woo back old users and new adoptions, Verge appears to be treading carefully on who their next partnerships are. They have moved to the Australian market and partnered with Bamb-U brand and now XVG is among the coins you can use to purchase their bamboo range of products using XVG coins. Through TokenPay (TPAY), you can shop at a discount with privacy and guaranteed security from the online retailer.
Changelly, a respected high-end crypto exchange has also thrown its weight behind Verge. This will also expose XVG to other major digital assets listed on the exchange. Other exchanges that have listed XVG recently include Coin2001 and Dutch Crypto Exchange. These will offer the privacy coin additional visibility and a global brand growth.
Controversial Verge (XVG) PornHub Listing
Verge Listing on PornHub motive early in the year was meant to grow their user base given that PornHub has over 9million users. However concerns were raised on whether the amount of money paid to for the listing was worth the effort. Why did the porn industry leader go for major players like Bitcoin or Ethereum?
PornHub motive was clear; to list coins that are less than three years old and are struggling to grow their fan base. Such platforms are willing to spend big and get their systems integrated into the porn outfit to be part of their payments systems and gain more usability status.
Verge (XVG) Price Outlook
With several privacy coins showing signs of recovery, XVG appears to be struggling to get back to its old self. At the time of reporting XVG price stood at $0.013448 with a drop of 0.32% and 2.28% to the USD and BTC in the last 24-hour trading session respectively. This is a huge drop from the April 17 $0.101
As much as the market performance is skydiving, Verge appears to have been hit hard and there is need to re-thing their future strategic partnerships and bring back the elusive partners that will drive value, stability and confidence. This will give the project a competitive edge in the privacy coin niche.