Damage To Verge Clear As XVG Fails To Meet $0.07 During Weekend Rush
The start of this week is no doubt going to be flooded with news of positivity and stories of great movements by cryptocurrencies, after almost two full weeks of positive progression, and of course a brief market surge. This weekend was of course no exception, with all major currencies making solid progression over the weekend.
A few weeks back, a clairvoyant may have predicted that Verge would latch onto any positive market movements and make clear gains. This prediction, may have been justified by the huge partnership announcement the Verge team promised last month. Should the announcement have been met with delight and positivity, things really would be very different for Verge right now, we may even have expected Verge to hit beyond $1.00 in light of all this.
However, the true performance of Verge says the complete opposite. Their partnership announcement, PornHub, disappointed many fans and investors alike. Not because of the nature of the partnership as such, the concern comes from the announcement outweighing the hype the Verge team generated.
Evidence for this disappointment lies within how Verge has performed both last week and through the weekend, despite overall market gains, for a full week and a short rush going into the weekend, Verge has failed to meet the $0.07 mark, a mark on the 17th of April would have been laughable, whilst Verge sat tall at $0.11.
How has Verge performed over the weekend?
So, despite the small overall rush entering the weekend, and two days of positive movements elsewhere, Verge really has let itself down. We did see a short peak of XVG at $0.071 on the 21st of April, but this was short lived, with its value stooping to $0.065 soon after.
Now, at the time of writing, Verge sits at $0.069, up 1.12%.
The current statistics do suggest the $0.07 mark is reachable, very in fact. However, all things considered, is this really a significant benchmark, given that just a few days ago we did see XVG move past $0.10?
The performance of Verge is important because, as I have mentioned, it suggests that XVG is going to struggle over the coming weeks. Even with the markets looking promising, Verge doesn’t seem to be able to latch on to any gains or good movements. It is volatile at the moment and of course, this has been caused by the PornHub partnership. What we should consider though is that, if this partnership was met with some more positivity and lived up to the hype, XVG would be a very different currency right now. I do wonder how the Verge team feel they have done in all of this, surely, they can’t be pleased with how things are looking.
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