VergeFreakout What gives
3 min read

The Verge (XVG) Community Is Freaking Out: What Gives?

By Editorial Team

Ever since Verge (XVG) hit an astonishing all-time price high of $0.25 USD on Christmas day 2017, things are starting to look shakier and shakier. And some in the cryptocurrency space are starting to spazz out accordingly.

So what’s going on? Is the tumult from FUD (“fear, uncertainty, doubt”), or are the ongoing concerns well-founded?

We’ll help you get caught up; get ready for another wild year in crypto, right?

Third deadline missed for Wraith?

Users on Reddit began sounding off as the XVG team apparently missed their third deadline in a row for the project’s Wraith update, an optimization that’s been billed as capable of bringing stealth sending features to Verge.

Indeed, many users saw the episode as a failed promise, or, in the very least, as an example of poor communication and management from the Verge team. This got everyone into a frenzy, critics and supporters alike.

Verge

Some are jumping ship.

In the hours since the botched announcement, the Verge team has finally released Wraith, commenting:

Wraith on OSX is released and working. Windows/Linux versions take longer than expected. We understand your feelings, but our priority is to release fully working software that provides security and anonymity. Other platforms will be released asap.”

A separate scandal brewing?

On the morning of January 1st, Reddit users posted a link to a site that appears to be a privacy user’s nightmare: a list of IP addresses associated with specific XVG wallet addresses.

Now, in the absence of independent confirmation, let us be clear: the site aforementioned could be a fabrication of some kind. But it doesn’t appear so. It looks like a legitimate outing of Verge users’ IP addresses, though it’s not immediately clear if the leak pertains to the clearnet or Wraith.

With this alleged leak being so fresh, it’ll take more time to fully understand what exactly has happened.

But some have been spooked, and the XVG price is showing it. Over the last 24 hours, the crypto’s price has sunk over 10 percent, and more sliding could come over the next few days.

Crypto mania in full swing

Whatever ends up happening with Verge — whether it goes on it to be the greatest privacy coin ever or it tanks into oblivion — what we’re seeing now in the crypto community’s fiery and disparate responses to XVG’s entrance into the new year is really a mirror of the entire space as a whole.

John McAfee recently whipped Verge FOMO (“fear on missing out”) into a frenzy with his “Coin of the day” spotlighting. And that’s brought pump and dumps to the fore of just about everyone’s minds in the ecosystem.

Salvos are flying in every direction, people are making money, people are losing money, and praise and hate are coalescing.

Will cooler heads prevail in 2018? Probably not, with how much money appears to be on the line in what will likely turn out to be the most titanic year for cryptocurrencies yet.

Indeed, expect the manic responses only to increase in intensity in the coming months.

Featured Image via Fotolia

Editors at large. Posting the latest news, reviews and analysis to hit the blockchain.
View all posts by Editorial Team -> Best Crypto Deals ->

Related Posts

Proof of Work vs Proof of Stake
Proof-of-Work vs Proof-of-Stake: Which is Best?
Proof of Work vs Proof of Stake

Proof-of-Work vs Proof-of-Stake: Which is Best?

February 15, 2023 20 min read
top crypto picks for 2023
Top 10 Crypto Investments for 2023!
top crypto picks for 2023

Top 10 Crypto Investments for 2023!

January 12, 2023 37 min read
SwissBorg Capital Raise
What Bear Market? SwissBorg Charges Ahead Amidst Harsh Crypto Conditions 
SwissBorg Capital Raise

What Bear Market? SwissBorg Charges Ahead Amidst Harsh Crypto Conditions 

December 17, 2022 6 min read
crypto gifts
Top 10 Best Crypto Gifts in 2022
crypto gifts

Top 10 Best Crypto Gifts in 2022

December 2nd, 2022 25 min read
OKX invests in WAX
OKX Blockdream Ventures Invests Millions in GameFi and NFT Development on WAX
OKX invests in WAX

OKX Blockdream Ventures Invests Millions in GameFi and NFT Development on WAX

June 3, 2022 2 min read
Binance partners with the weekend
Binance Partners with The Weekend to Provide First-Ever Web 3 Enhanced World Tour
Binance partners with the weekend

Binance Partners with The Weekend to Provide First-Ever Web 3 Enhanced World Tour

June 3, 2022 2 min read
21Shares Releases Sixth State of Crypto Report
21Shares Releases Sixth State of Crypto Report: Summary
21Shares Releases Sixth State of Crypto Report

21Shares Releases Sixth State of Crypto Report: Summary

June 2, 2022 3 min read