Pornhub Pulls Verge (XVG) Price Down by Over 30%

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by Julia Sakovich · 3 min read
Pornhub Pulls Verge (XVG) Price Down by Over 30%
Photo: PornHub

Though it was expected that Verge would enhance its position partnering with an adult site, it led to an opposite effect – Verge Price went down.

For the last several weeks, Verge (XVG) price was continuously growing. At one moment it reached $0.1 according to CoinMarketCap, but at press time this cryptocurrency is traded at $0.07 onlyб which means that it has lost over 30% in price. What are the reasons for such a rough decline?

The crypto community was looking forward to finding out a new partnership of Verge but when the news was released, the price tanked. The secret partner the announcement of which was so long-awaited turned out to be the biggest website in the porn industry and the 36th most visited website on the internet – PornHub.

Under their partnership, PornHub would accept XVG as a mode of payment. As XVG is an anonymous privacy coin, there won’t be any records of transactions left as in the case with credit card payments.

Describing this initiative as “an important foray into the future”, PornHub commented this move in a blog post and accompanying video on their website. And while their post itself is absolutely safe for work, the video contains some episodes not appropriate for youngsters.  The company explains that it will accept XVG as a payment method for its premium services and other available purchases.

The blog posts reads:

“The future has come. In our efforts to keep current with our community’s privacy and payment preferences, Pornhub will now be accepting Verge as a means of payment for services like Pornhub Premium and more, on our platforms. Building on Verge’s core values of security, anonymity and practicality, the introduction of this cryptocurrency as a means of payment Pornhub signifies an important foray into the future from the industry that is always on the cutting edge of technology.”

It is believed that thanks to this partnership with PornHub, Verge’s popularity should be increased in the coming month. At least the company itself supposes so.

Nevertheless, the crypto community is not so positive about this news. A lot of experts have already expressed their criticism especially for holding a large fundraiser to secure the partnership. Founder of Litecoin Charlie Lee is not very against the current situation, but at the same time he thinks that it is not the best example of a good collaboration:

But we should also mention that there is also a number of Verge supporters, who believe in a power of this partnership, saying that a small crypto coin has a good chance to be noticed owing to working with one of the biggest websites visited by millions of users every day.

The adult industry has already had some examples of using crypto coins. Some digital assets were launched exclusively for being used in this sphere, as for example SpankChain (SPANK). Some years ago, even Bitcoin had the image of a coin to be used for paying for adult content.

That’s why there is little surprise that following the news about Verge and PornHub, the Brazzers company has also announced their plans to accept cryptocurrencies for payments. So, payments in XVG will be available on this platform as well.

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