The year has gone from bad to worse for Verge (XVG) investors who are currently facing the lowest of prices in 2018. Since the Mindgeek Inc. deal made earlier in the year the price of XVG has fell from $0.22 per token to barely a tenth of that price at $0.023233 USD. This recent fall in price is heavily influenced by the overall crash in prices in the market with bears taking the market.
The recent selloff will however do the Vergefam no good as they try to recover from the massive failed partnership with Pornhub. The team has however embarked on developing the private network and partnerships to better the overall blockchain. One of this huge deal closed by the team is the Royal Queen Seeds Company, a cannabis firm operating in Europe. We will discuss further the partnership and the impact it may have in reviving the token.
Verge (XVG) is focusing on having partnerships with industries that require a privatized payment system as it blends in well with the overall business that XVG currency is focusing on. This recent partnership with Royal Queen Seeds, a company situated in Netherlands selling marijuana products will see the coin recover. The company boasts to be one of the largest marijuana stores in the Netherlands and is focusing on moving to other legalized areas in the world.
“Royal Queen Seeds is amongst the fastest growing cannabis seed companies in Europe. After building up many years of experience in growing cannabis seeds in the Netherlands, we decided to launch our own line of cannabis seeds and are now able to offer you quality feminized, auto-flowering and medical seeds at a good price.” ̶ The official Royal Queen Seeds website.
The partnership will see the company accept Verge currency payments from customers with the transaction and settlement happening instantly at a low cost. Royal Queen Seeds stands to benefit from the fast transactions and worldwide access of the payment system allowing an introduction to a new market.
Once the deal was completed a tweet from the Verge official account confirmed the news, “A world known cannabis seeds producer @royalqueenseeds is now accepting @vergecurrency payments via @CoinPaymentsNET. $XVG is the future and we are happy to have you by our side. Thank you for the support and welcome to #VergeFam!”
This partnership may well face a limited impact on the overall price of XVG in the short term as the market is at weak support levels threatening a major selloff. The use case of XVG has however been introduced to a new market showing signs of future use cases in real world applications. The strong fall in price to below the $0.025 USD mark has seen the coin hit the lowest level in 2018 placing it 35th in the Coinmarketcap listings.
This recent partnership will cause a significant hike in price in the coming days as Verge (XVG) grows its transaction channels to its marijuana customers. Verge has a total market capitalization of $349,749,386 USD with a total daily volume of $3,995,840 USD worth of XVG traded.