At the time of writing, XVG trades at $0.0071550, having previously hit June highs, buoyed by Visa and Mastercard news regarding PornHub.
Blockstack’s STX may not be so popular with most investors like Bitcoin, but the 72nd largest cryptocurrency by market cap has recorded growth in recent times. STX has increased by 85% of its value since November, and its market capitalization has grown from $100 million to $188 million since the said period. STX presently trades at $0.2978 up by nearly 7% on the day.
Verge (XVG) is currently infamous for its ties to the porn industry. Verge initially partnered with PornHub in April 2018 in a solution that buoyed the crypto asset. On the recent confirmation by the world’s largest Pornsite PornHub that Visa and MasterCard are no longer serving its payments, Verge, therefore, stands a chance of use for its nearly 120 million daily visitors.
Verge (XVG) sentiment vs. price 1-week chart. Courtesy: TheTIE
A correlation was observed in its tweet activity and price, as the former usually surges before an upside move. On November 10 a spike in tweet activity was seen when the Coinbase open-source tool Rosetta was integrated into Blockstack. On December 7, the company issued a legal memo claiming that its Blockstack STX tokens would no longer be considered securities.
After changing its parent company name to Hiro, Blockstack announced the 2.0 mainnet. Code completion will occur at the latest December 15, and the launch date is January 14, 2021. This suggests that there are a large number of fundamental drivers supporting the STX rally and it’s worth noting that the token release schedule until October 2021 is very aggressive.
