Markets have taken a major dive overnight and things are looking bleak during this morning’s Asian trading session. Total market cap has dropped below $300 billion and it seems we are approaching the third major bottom in two months. Bitcoin has broken though major support and is trading below $8,000 for the first time since the last dip on March 18. Altcoins as usual have followed it and have taken a bigger battering. Only one is performing well this morning and it is the same one we mentioned a few days ago, Verge.
According to Coinmarketcap XVG is trading 14% higher on the day, up to $0.048 from $0.041 this time yesterday. Over the week it has also performed pretty well trading 60% higher from $0.030 this time last Tuesday. On the monthly view though Verge is down 20% from $0.060 this time at the end of February. Against BTC it has made better gains today trading 25% higher at 617 satoshis from 416 sats this time yesterday, this has been compounded by Bitcoin’s slide overnight. Over the week XVG has made solid ground against BTC climbing over 50% from around 300 sats this time last week.
The crowd funding donation drive has been largely successful and over 76 million XVG have been collected, beating the target of 75 million by March 26. A tantalizing Tweet leaves Verge hodlers and supporters hanging for more information on this new major partnership;
— vergecurrency (@vergecurrency) March 26, 2018
Price action has reflected this, the only positive news in the altcoin world this morning and Verge is on a roll once again.
The majority of XVG trade over the past 24 hours has been on Binance with 55%, total volume has been $138 million. Verge is creeping back towards the top 25 and is currently ranked at 26 with a market cap of $718 million. If this new partnership lives up to all of the hype XVG could well skyrocket in the next few days.
All other altcoins have taken a beating this morning as the rout continues.
More on Verge can be found here: http://vergecurrency.com/
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.