Verge [XVG] went through a terrible time as the price dropped by 17.19% in the last 24 hour period. The price has continuously dropped by 3.2% in the last one hour mark. At 8:30 AM UTC, XVG has a value of $0.055 with a market capitalization of $838 million.
XVG is currently positioned at rank 28 on Coinmarketcap and is followed by 0X [ZRX]. Almost all the cryptocurrencies have been struck hard with a falling moving average.
Dharan a crypto-analyst and a programmer responded to the bearish trend of the market:
“This seems like a uniform fall as the price is below the moving average, there are a lot of traders in the market who are selling. There is an observation in the RSI as the prices dropped out of the blue. Currencies like XVG, XRP, and XLM saw a massive blow”
He further said that as an investor himself he did not see this coming. The whole crypto-market is sunken deep below the ground after people sold their tokens. Despite Verge’s efforts to gain publicity, it has flopped, as the market is hugely portraying a bearish trend.
In a recent tweet by Abra, a global exchange platform announced that it has listed Verge [XVG], Monero [XMR], NEO and few new cryptocurrencies. In an additional note, it was specified that XVG can be directly bought by fiat instead of other crypto intermediaries. However, they also mentioned that as of now the XVG cannot be withdrawn it has to be converted to BTC then fiat.
Heidi, a Twitterati says:
“Who in the world is gonna use an exchange that won’t let you withdraw altcoins? C’mon!”
Buddu replies on Twitter:
“Have been using Coinbase. I will try this out. No doubt fees will be way less than Coinbase monster.”
A Redditor says:
“Price manipulation, not gonna sell my XVG to this pump&dump group. You never know when the prices might go up again. So keep HODLing keep faith.”
Another Redditor remark:
“Next week is Consensus 2018. Major news sources are saying it’ll probably result in another 75% price rise like last year. If I were a whale and I saw the market tanking, I’d join in in the hopes of lowering the price even further to buy back in lower prior to the event.”
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