After falling out of the top 30 largest coins by market capitalization in recent weeks, Verge (XVG) has reclaimed its spot on the list. The privacy based coin is currently placed at position 24 on Coinmarketcap with an overall market cap of $1,122,905,437 USD. This rebound in market cap comes after the recent increase in price as investors started to believe in the partnership to Mindgeek and TokenPay.
The coin has been busy though the month of April as the team buzzes with partnerships and technical development of the platform. The company is focusing on marketing XVG and creating an adoption of the coin for private peer to peer transactions.
Factors promoting a bullish momentum for XVG
Partnership with Mindgeek, Pornhub
The partnership with Mindgeek, the parent company to the biggest adult site in the world Pornhub that has raised a few questions. With a massive selloff happening soon after the partnership was announced, the price dropped to a 3 month low of $0.02 but has since regained momentum to trade at $0.0784 USD as at Tuesday, May 1, 2018 11.22 AM.
This recent rebound has instilled confidence in the investors in the partnership as daily trade volumes have increased to over $260 million USD worth of XVG trades, the highest it has been since the announcement was made. As more investors take shape and note of this wonderful treasure, the coin may well be aiming towards the $0.2 mark before the end of the quarter.
Partnership with TokenPay (TPAY)
Verge (XVG) has also partnered with TokenPay (TPAY) to introduce their new debit cards to their customers. The debit cards will be the first of its kind for a private blockchain. After the meeting between TokenPay company executives and XVG executives, a deal was reached where the two companies will partner to make private blockchain transactions readily accessible to ease payments using XVG.
“A deal in principle has been agreed upon by all parties. We will provide full details at closing, but can say that $TPAY and $XVG debit cards are likely coming soon,” quoted a tweet on @TokenPay. “This includes critical eFin exchange capabilities for account holders. Priority will be given to TPAY and XVG holders.”
-@TokenPay Twitter page
This will also allow more merchants to take up the token as a payment system in their business. The TPAY directors and team released a statement earlier this week to confirm that the debit cards will be released later this month in May.
The partnership between TPAY and the German bank to provide debit cards to XVG is having positive spillover effects as more Germans are taking a keen interest in the privacy based coin. TPAY currently names itself the ‘world’s safest token’ as it has a built in cold storage wallet that ensures security and anonymity of transactions is kept paramount on the blockchain.
The month of April has seen many companies linked with Verge (XVG), from PayPal (PYPL), Amazon (AMZN) and banks across the world. The month of May will see the coin push well above $0.1. It will be a right choice to HODL with the coin experiencing higher highs and high lows in the weekly technical analysis charts.