Verge (XVG) Counts Down to Halving, Will Price Shoot Through the Roof?
Crypto Week in Review: Bitcoin, Ethereum, Verge, Litecoin, Bitcoin Cash and Ripple Struggle
It has certainly been an up-and-down week for cryptocurrencies. Things started out relatively peaceful when allegations arose that the currency had somehow dominated its incoming “
,” and that the slump users had been witnessing over the past several days may be coming to end. This seemed to hold true when Bitcoin rose from $6,900 to $7,100 – a $200 jump from where it had long stood.
Japanese Brokerage Firm Monex Group to Buy Crypto Exchange Coincheck Verge Coin Review
Within 24 hours, ideas of recovery were swelling social media and news platforms as the currency rose to just under $7,500 following the
Verge Coin Review
stolen last January – would likely be “rescued” by Tokyo-based exchange Monex Group.
The company issued a formal statement saying that it was in talks with Coincheck about a possible “takeover,” and that a deal could be reached by the end of the week. This sent the price of bitcoin surging, as hope and enthusiasm once again found themselves fluttering through the cryptocurrency arena.
This positivity was short-lived, however, as a near $600 drop in the price occurred the following day, and bitcoin fell to about $6,800. Now, the coin has settled for $100 less and is trading at approximately $6,800, suggesting that the currency is holding its ground, but has undoubtedly been affected by recent trends.
Introduction to Verge (XVG) – The Future of Privacy
There appear to be several reasons for the latest drop, one
is a privacy-oriented cryptocurrency, and it’s alleged that hackers may have implemented several bugs in its system to walk off with anywhere between $15,000 and $1 million in company coins (sources differ greatly in how much the amount totals).
, the story raises several questions. Verge’s blockchain requires a proof-of-work validation mechanism, much like
, which makes users wonder if these latter blockchains are also vulnerable to similar bugs and malware.
Larger news stemming from India likely took a larger toll on the coin’s position and current pricing. The
has hinted that it plans to potentially ban Bitcoin trading on a whole while building its own digital currency. This has led to negative reactions among residents, who claim that a national virtual currency wouldn’t necessarily be threatened by Bitcoin and other forms of crypto.
The move could be especially damaging considering India accounts for roughly 10 percent of the world’s cryptocurrency trades. A full ban on Bitcoin by India may wind up affecting not only users but the country’s financial stability in the global blockchain market.
In addition, several other leading cryptocurrencies have also experienced serious drops in their prices.
Thus far, we have experienced mixed reactions from analysts, some of whom claim Bitcoin could encounter
by the year’s end. Others feel that the coin’s final days are near, and the bubble surrounding Bitcoin has
The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.
Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Nick Marinoff is an author, writer, and journalist that has been covering the cryptocurrency arena since 2014. In the past, he has served as a news writer and editor for Money & Tech, and as a senior writer several cryptocurrency websites. He also has several guest publications under his belt from Sludge Feed to Coin Journal to Digital Gold Magazine. He has since traveled extensively to libraries, offices and other locations delivering seminars on the book's subject matter and the growing student debt crisis in America.
The easiest way to stay current with the most important blockchain news and crypto insights.
This email address is already subscribed to our newsletter.
be shared, rented or sold and you can unsubscribe at any time.
How Bitcoin May Hit $3,000 According to Prominent Investor
Report: Israel May Adopt Cryptocurrencies to Prevent Tax Evasion
Bitcoin Rallies Above $6900, Tether Fires Up the Printers
Crypto-Exchange Huobi May Go Public on Hong Kong Stock Exchange
Canadian College to Launch Blockchain Developer Program
Mark Yusko’s Morgan Creek Digital Partners with Bitwise to Launch Institutional Index Fund
Payfone Wins SIM Swap Attack-Prevention Patent to Deter Cryptocurrency Hacks
North Korea to Host International Crypto Conference
Indian Government Forms Blockchain and Cryptocurrency Task Force
Bitcoin Rallies Above $6900, Tether Fires Up the Printers
Chinese Giant Baidu Joins Corporations in Cryptocurrency Crackdown
Coinbase Hits 500 Employee Mark, Shrimpy Adds Portfolio ‘Rebalancing’ to Coinbase Pro
CryptoSlate will earn a small commission from any sale made using the above links.
0 Reviews:
Post Your Review