The long anticipated Wraith protocol update for Verge was expected to be rolled out on New Year’s Day, and hodlers were hoping for a price spike. XVG relies on anonymity as its advantage over other altcoins, and Wraith was the harbinger of new things for the blockchain..
The issues surrounding Verge were compounded by reports that a website claimed to have peeled back the cloak of anonymity by posting a list of IP addresses that were associated with hundreds of XVG transactions. Verge was largely pumped by crypto pundit John McAfee during December, which initiated a 2600% surge from $0.009 at the beginning of the month to a high of $0.30..
Things have now turned around with leaked texts and images showing one prominent member of the Verge community, known on Twitter as XVG Whale, spending a cozy weekend with McAfee before the coin was publicly extolled by the outspoken antivirus mogul. According to reports, the pair later fell out over claims that McAfee allegedly wanted millions from Verge and ‘XVG Whale’ to endorse the altcoin..
There has been a slight selloff, but XVG seems to have maintained support at around $0.15, where it has been for a week or so before the New Year surge. [Full disclosure: The author of this article is a Verge (XVG) holder] Is Verge a terminal case or will there be a revival once technical issues are ironed out?