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Verge Prices Notes Some Impressive Gains Compared to Bitcoin

It may turn out to be a semi-decent weekend for cryptocurrency traders after all. Even though most markets are stuck in sideways momentum, by the look of things, others are popping. The Verge price, for example, notes a very strong 36% increase in value over the past 24 hours. It is evident there is a lot of attention for any currency focusing on privacy and anonymity as of right now.

Verge Price is Soaring High

It is always interesting to see how the cryptocurrency markets evolve during the weekend. This particular period is notorious for awkward trading trends and market movements which make virtually no sense whatsoever. This weekend seems to be a bit more normal, which is rather peculiar in its own right. With the Verge price firing on all cylinders as we speak, it is evident there’s some good money to be made during these interesting times.

More specifically, the Verge price is currently $0.086. That is quite a healthy increase compared to about two weeks ago, even though it’s far removed from the all-time high of over $0.2. As most cryptocurrency markets are still recovering from the rough start to 2018, it is not surprising to see even the Verge price remaining a lot lower than some people would like. As such, the current Verge price is in a good place, when looking at the bigger picture.

This 36% increase in Verge price is also a direct result of strong gains over Bitcoin itself. With a nice 26% increase in the XVG/BTC ratio, it has become rather evident altcoins are looking to recover their lost ground against Bitcoin first and foremost. For Verge holders, this current trend is quite positive, but it is doubtful such momentum can be sustained for longer than a few hours. Then again, stranger things have happened in this industry.

With over $303m in 24-hour trading volume for Verge, this altcoin is certainly in high demand as of right now. We live in an era where governments and banks are removing any financial privacy users can achieve, which is a major problem As such, there is a growing demand for privacy and anonymity, even in the world of cryptocurrency. Whether or not this volume will remain stable or potentially even increase later today and tomorrow, has yet to be determined.

Unsurprisingly, the Binance users are determined to push the Verge price up even further. With $123.6m in volume with their BTC pair and another $21.1m n the ETH market, is evident Binance is the place to be right now. Upbit and Bittrex are also in the top three, yet none of the top three platforms offer a fiat currency gateway. The first fiat market is Litebit’s EUR pair, which generates just under $565,000. Once Verge gets actual proper fiat currency pairs, things will undoubtedly get very interesting.

For now, it remains to be seen what the future holds for the Verge price. This current uptrend will eventually calm down again, and those looking to cash out profits may want to consider doing so now or in the next few hours. It’s not impossible the Verge price may climb a bit higher, but all good things eventually come to an end, especially in the cryptocurrency industry.

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Andreessen Horowitz’s $300m Crypto Fund Buys Stakes in Stablecoin Project

An upcoming stable coin project featuring a loaning system has bagged a $15 million investment from Andreessen Horowitz. VC Firm to Govern MakerDAO The venture capital firm, with a history of high profile investments into crypto projects, bought 6 percent of the total MKR supply through its $300m crypto fund, a16z crypto. By doing so, the US firm has got the rights to govern the Maker network, which includes MakerDAO, the stable coin firm, and the Dai Credit System as it becomes the first DAO-enabled stable coin project. The investment also marks a16z’s very first strategic purchase in the crypto industry. Katie Haun, general partner at a16z, believes MakerDAO will provide a compelling opportunity to their fund in the crypto-space. The former federal prosecutor, who is also renowned for having led the investigation against Mt Gox and Silk Road, said in her press statement: “MakerDAO’s technology, ecosystem and talent have put theory into action to deliver a decentralized stablecoin that we believe will help drive the future of the crypto economy.” For MakerDAO, a $15 million investment means more funds to develop their Dai Credit System. Not to be confused with MKR, which is a proof-of-stake token, the Dai Credit System uses a specialized stablecoin called Dai. The Dai token is soft-pegged to the US Dollar and is created during a seemingly unique loaning process. “Dai is created when asset owners deposit collateral to secure a loan, which is denominated in Dai stablecoin […] This allows owners of illiquid or unstable assets that wish to retain those assets over the long term to gain short-term liquidity, i.e., an ability to spend value otherwise locked in those assets while still retaining those assets,” stated Haun. For now, borrowers will be able to use ETH token as collateral to secure a loan from MakerDAO. The team has also launched a multi-collateral DAI system on the Kovan Testnet. It would allow borrowers to collateralize a diverse basket of crypto-assets in addition to ETH. The Maker network, in general, makes use of a set of autonomous smart contracts to coordinate the loan system. That said, anybody with an internet connection and with some collateral to spare can create Dai stablecoins, without needing an intermediary. “With an exciting fall full of announcements, MakerDAO is making its mark as a vanguard of blockchain technology. The team looks forward to continued product excellence and rapid Dai adoption in the coming months,” the Maker team said as it signed off. Image from Shutterstock The post Andreessen Horowitz’s $300m Crypto Fund Buys Stakes in Stablecoin Project appeared first on NewsBTC.

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