News in the cryptocurrency industry are a double edged sword. They can send a crypto skyrocketing to the moon or tumbling to the ground in equal measures. Verge (XVG) has been dancing amidst positive news that have opened the new month with incredible gains and eagerness to break resistance and barriers to the upside.
The recent most incredible boost was the news surrounding XVG listing on South Korea’s largest cryptocurrency exchange, Bithumb. The support for the asset was announced on Thursday last week with the deposits starting on the same day. The announcement by Bithumb read:
“We are pleased to announce that WeShow Token (WET) and Verge (XVG) will be listed on Bithumb.”
The Verge team also expressed their excitement to their followers on Twitter. The team celebrated the big support with a message that said:
“Nice! @BithumbOfficial are listing #verge! Keep in mind that Bithumb are listed in second place on @CoinMarketCap. Definitely a worthy exchange, especially for the South East Asia region.”
Verge (XVG) Price Action
Prior to the above support, Verge was trading at $0.006715. However, the token sprung up with gains in the excess of 53% where XVG exchanged hands at $0.0103. The upward momentum did not slow down throughout Thursday causing a ripple effect in Verge’s exchange trading volume. The volume increased from $3 million to a whopping $34.8 million in less than 24 hours. The surge easily became the biggest since September and the price is now trading in the levels of early November. The recovery has been incredible for the Verge cryptocurrency and a great way to usher in the last month of 2018.
Retracement
As the laws of nature states that what goes up must come down, Verge has been trimming the gains over the last couple of days. At the time of writing, it is trading at $0.0074 and is showing a 7.63% drop in the last 24 hours according to the data on CoinMarketCap. The trading volume has also dropped massively to the current $2.7 million. The $112 million digital asset is currently ranked 45th in the market.
Verge has had an abundance of positive news in the past one-week including the support on Bitcoin Superstore, Gold Label and Blockfolio Signals. The support on Bitcoin Superstore will see Verge get a boost with users using it as an alternative payment option in more than 200,000 stores around the world.
“We are excited to announce our acceptance of Verge! Customers can now buy from nearly any online retailer with #Vergecurrency! What does the #vergefam think of our addition?”
Gold Label Project, a product facilitated by Binance, has added Verge (XVG) to its portfolio. Verge has brought the total number of coins on Gold Label to 30. The product by the largest exchange in the world assists users to have easy access to crypto data that is trusted.
Elsewhere, Verge was also added on Blockfolio Signals, a platform that tracks the performance of cryptocurrencies in order to inform users of vital news and changes before they make investment decisions. Blockfolio signal platform is available as a mobile application, bringing the information closer to the investors.
Verge (XVG) is a privacy focused coin that has shown the investors that it has the ability to recover following the gruesome declines in November. Although at the moment XVG is hovering between the 40th and the 45th position in terms of the market capitalization, experts in the industry reckon that the asset is likely to become a top 20 coin in 2019.
