After the recent rumors of addition of the XRP to the Coinbase list of digital assets to be monitored, other cryptocurrencies need to follow the story of success of XRP. One of the tokens is Verge (XVG) which has also had its fair share of problems at the start of 2018.
In the world of cryptocurrencies, not every action taken by a blockchain development team or management team affects the overall value of the coin/token. This has been highlighted by the continuing decrease in value of Verge (XVG) while Ripple (XRP) has shaken off the burgeoning negativity surrounding it.
Since the Pornhub partnership, things have been going south for XVG in the wake of a market selloff since the all-time highs experienced in early January. As much as both of these coins started off negatively at the start of the market downfall, XVG has failed to recover its reputation while XRP continues to rebuild its tarnished image. Will XVG rise once again amidst all the negative comments? Does XRP’s story of redemption offer a hope to the privacy coin?
How can XVG succeed by learning from XRP?
1. ‘Une nouvelle’ Verge Foundation
Back in 2016, the privacy coin, XVG changed its name from “Dogecoin Dark” to “Verge Currency” as they focused and emphasized on going to the mass market. This saw the coins popularity rise considerably and in effect the value of the coin. This baptism rebrand is viewed as a turning point to the coin as it climbed to the top 20 cryptocurrencies ranked by market capitalization.
Ripple Inc. owns over 60% of XRP, and has been strongly associated with holding the face of XRP. This strong relationship between Ripple Inc. and XRP was key in seeing the digital asset topping the total return on investment (ROI) charts. Ripple Inc. is known for its high profile connections in the financial institutions and corporations partnering with over 100 banks in partnership to adopt the xCurrent and xVia features.
The current brand of Verge lies in connecting with the social media side of cryptocurrency. The current Verge Currency team insists on using their social pages handle names. This may have worked in the past but after the partnership with Mindgeek not going as to plan, rebranding the boardroom may well work for the privacy coin.
Verge Currency currently offers one of the best technologies in privacy and anonymity blockchains. This is one of the major selling points of Verge with the built in Wraith Protocol.
2. Verge should focus on corporate partnerships?
Internal rebranding of Verge currency offers an opportunity to the foundation to make new friends in the corporate world that want to adopt private payments. The public nature of blockchains such as Bitcoin makes it unfavorable for big businesses that need to keep their transactions private. A growth in the partnerships made with corporations offers a greater chance for adoption for the Wraith Protocol which leads to massive adoption of XVG.