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In April this year, Verge (XVG) revealed a mysterious collaboration that should have brought the coin to the new heights. The partnership, as we know now, was with the adult entertainment site, Pornhub. However, it would seem that the partnership with XVG Pornhub was not enough to save Verge from sinking.
Verge goes down despite partnership with XVG Pornhub
The partnership between Verge and the adult entertainment giant was a big surprise for the XVG community. Pornhub was also praised by many for believing in the encrypted and having them introduced as a payment option. Even the media were enthusiastic, calling this the biggest partnership in the history of criptos. In fact, many believed that this would lead to mass encrypted adoption and that it would also change the position towards digital currencies in general.
For a while, this seemed to be true, as the price of Verge skyrocketed once the partnership was revealed for the first time in April. However, the price increase did not last long and the partnership with XVG-Pornhub was only a temporary push for Verge.
The reasons behind Verge's fate are not a secret. Not only was the whole year a disaster on the cryptography front, but the currency was even hit by a 51% attack. The attack struck over 35 million coins in about 5 hours, which left deep scars on Verge.
Soon, the currency began to fall, and over the course of several months, it landed in 39th place on List of CoinMarketCap . Of course, even its price has declined, and the currency is currently valued at only $ 0.013661 per unit.
Pornhub decides that going to the crypt is the right choice
Pornhub, on the other hand, realized that going to the crypt was a good call. However, Verge's choice probably was not. For this reason, the website quickly became interested in other currencies, such as VIT (Vice Industry Token), ZenCash and TRON (TRX). Shortly thereafter they also partnered with PumaPay to make payments easier by encrypting consumers.
As good as it is for the cryptic world, the new partnership also hit Verge in a negative way, as the currency was no longer the only crypt on Pornhub. With all that has happened so far, Verge has continued to fall until he reaches the position he holds today. Obviously, Pornhub was not interested in saving Verge. Even so, the currency tried to enter into new partnerships after the XVG Pornhub deal failed, but it did not help much, as we can see today.
In the end, many believe that Pornhub used XVG, especially because it has benefited from this partnership more than the crypt has. Meanwhile, the cryptography market continued to be hostile until a short break in August, which was not too good for XVG. If money can make a return or not, nobody knows. As for the cryptic community, the fall of any currency is a tragedy, and many hope that Verge can finally find its way.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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