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On the Verge of a spike: Is Verge’s XVG heading for greener pastures?

In this, we explore how Verge’s network has seen a spike over the past 24 hours and look at an overall view of the token’s news.

Written by Becky Leighton Published on

Verge is looking at an increase of 13.24% price increase in day-on-day trading. Although the crypto-market is known to be volatile, any indication of green is worth exploring.

Currently, Verge is trading at $0.016908 USD. Although it is significantly lower than the beginning of the year when it held a value of$0.183720 USD, it still shows a positive gradient of the coin’s price. If we consider the token’s chart, we can see a slow but steady rise upwards.

Transaction volume recap

At its height on 17th of April, the Verge network saw some 200,812,644 XVG transacted daily – down from a record of 270,418,665 XVG on 5th of January in 2018.

Excluding 11th of August 2018, which saw no VXG transacted, the network’s lowest point saw only 136,130 XVG transacted on 14th of July, while the network’s next high point of 115,625,396 XVG shifted hands on 3rd of April.

The Verge of attack

In April of this year, the cryptocurrency faced a massive attack which saw 250,000 XVG stolen from its network after 12,000 empty blocks were created.

After finding out about the attack, the lead developer posted an emergency commit to Verge’s codebase as a means to reduce the network’s maximum clock drift from two hours to just thirty seconds. The token’s Twitter account downplayed the incident, saying that it was a “small hack attack“.

In May, the network saw its second attack and lost up to $1.7 million USD in funds. The hacker was having a field day pilfering up to $1,000 USD per minute – a whopping amount of money for a startling amount of time.

Once again, the company played it off as a little-to-nothing affair which unsurprisingly annoyed Verge users who weren’t afraid to say so.

Adult partnership

The incidents came around the same time that the token jumped into bed with Pornhub. The leading adult entertainment platform announced in April that it would be accepting XVG tokens as payment. This announcement saw the cryptocurrency transaction rise suddenly and then fall quickly thereafter.

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Written by

Internet writer looking to find the right piece. Also presents things on radio and happens to be a chip off the old blockchain. @BeckyRLeighton

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