The easy way is to claim that Verge is a dead project we have a lot of clues to claim something like this.In this topic we will analyze the reasons and how possible is to make a bounce in the price.
What is/was Verge?
In contrast of most shit-coins, Verge (XVG) had a legal launch with 0% premine coins, no initial coin offering (ICO), and open source code for developers. Further, Verge (XVG) integrates the Tor browser in all of its wallets to obfuscate IP addresses, provides I2P tunneling to ensure the anonymity, uses dual-key stealth addressing to make transactions completely anonymous, and has a built-in encrypted message system. Essentially, Verge (XVG) had everything needed to be a top privacy coin. That’s the good news so far.
Verge’s price skyrocket and partnerships
Verge starting was fascinating, in one year went from the April of 2017 when the price was 0,000053 $ to 0,22736 $ at Christmas of 2017. The total ROI was above 9000% and it was one of the most profitable altcoins ever.
Ιn April 2018, Verge (XVG) revealed a mysterious but very interested partnership that was expected to bring the coin to the new all time highs. The partnership, as we know now, was with the most popular adult website, Pornhub. However, it would seem that the XVG Pornhub partnership wasn’t enough to save Verge from sinking.
The partnership between Verge and Pornhub came as a huge surprise for the crypto community. Pornhub used Verge as a payment option. Even the media was excited, calling the one of the biggest partnership in the history of cryptos. Many people believed that will lead to a huge crypto adoption. For a little time, seemed to be true, as the price of XVG skyrocketed once the partnership was first announced, in April. However, the price surge did not last for long, Pornhub ended the partnership because of Verge’s security issues.
Why is Verge dead?
- The main reason behind the surge of Verge are no secret. Not only has the entire year been very difficult for the crypto front, but the coin even got hacked via a 51% attack. The attack affected 35 million coins in around 5-6 hours,which was a big hit in Verge’s reputation. Soon, the coin started dropping a lot, and over the course of a few months, it landed at the 39th place on CoinMarketCap’s list.
- The crypto community has lost it’s faith to Verge they believe that is a dead coin and a scam coin. Someone added the Verge in the Deadcoins site.
- The developers and the whole XVG team they didn’t deliver any project in 2019 and that is the main reason why Verge is dead.
Can Verge make a comeback?
At the moment it seems very difficult to reverse the feelings and the opinion of the crypto community and in order to win their trust again they should update their roadmap and their program.
Verge it is not worth as an investment even if the current price which is 0,003992 $ with zero announcements and zero team behind. It is useful only for pump and dump. Unfortunately, XVG was exploited on many occasions, with the developers unable to protect their product and the protocol against those attacks. The future does not look bright for this pseudo privacy shit-coin.