One of the currencies that started with major gains this week, Verge [XVG] is currently trading at $0.046. The coin managed to rise up from the market dip with almost 50% gain over the week. The entire market is in red again while Verge is beaming in green with the highest increase.
It is ranked 26th with a market capital of $690,780,660. The coin is still observed to be increasing with great margins as seen at press time.
The reason behind this gain by XVG: asking for donations as an exchange to reveal some mystery partnership. The development team made this major announcement last week attracting many investors’ attention.
Last week Verge had tweeted on its official account about this campaign launch and mentioned that they need to collect funds in order to be able to implement some important elements regarding the system.
Many of the investors hooked while some showed negative surprise through Reddit threads. They were confused about the reason for XVG to be in need of donations, while the market already has many other low profile coins sitting quietly not requesting funds. The team has not opened up and has kept things unclear to date.
XVG tweeted earlier about the mystery partner being unveiled only if they are successful in collecting 74 million XVG within 4 days.
Just after the announcement, XVG started rising rapidly. The value has been going up dizzily with the announcement revealing that the ‘mystery partnership is the biggest in the crypto world until today’.
McCollin, a Redditor commented:
“Let me get this straight, the whole crypto-verse just watched Verge ask for 75 million XVG as donations for the biggest crypto deal in history. They said they will tell us when the funds are raised. Then the lead dev says he will do it in the morning. The entire crypto-verse is watching XVG. What is happening here? Are we being fooled?”
Anthony, a Twitter user said:
“Criticizing XVG might be risky because the coin is actually worth a lot technically. They should keep partnerships transparent to the public and not leave us in such chaos. This is least expected from them. We only hope it turns out to be something positive.”
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