Verge (XVG) Coin Jumps After Huobi Says it Will Add Listing

The exchange will add XVG’s trading pairs with Bitcoin (BTC) and Ethereum (ETH) on August 1.

Verge (XVG), a privacy-focused digital coin, leaped more than 5% on a daily basis in a relatively red crypto market on Tuesday morning as one of the largest crypto markets Huobi announced support for XVG.

Huobi will launch Verge at 07:00 UTC on Wednesday in trading pairs with Bitcoin (BTC) and Ethereum (ETH). Deposits are already available in preparation for the trading.

“XVG/BTC and XVG/ETH trading will be available at New Zone from 15:00, August 1, 2018 (GMT+8). Withdrawals will be available from 14:30, August 3, 2018 (GMT+8),” Huobi said.

At 08:21 UTC on Tuesday, nearly hour and a half after Huobi published it announcement, XVG changed hands at $0.025 for one coin, up 5.27% on a daily basis. Verge presently ranks 35th by market capitalization with $389 million value. It had more than $31 million trading volume for the last 24 hours, which mainly came from three exchanges that support pairs with BTC and ETH: Binance accounted for $11.5 million of the XVG volume, $8.8 million came from Upbit and $8 million from Bittrex.

Verge, formerly called the Dogecoindark project, was founded in 2014. It uses a combination of Tor, Wraith Protocol and I2P to hide the IP address of the users and thus to guarantee anonymity.

“Wraith Protocol is a technology upgrade package that enables our users to be able to send and receive payments privately across our blockchain by enabling stealth addressing services.  Additionally, this update removes our QT wallet users of clearnet and migrates everyone to SSL enabled Tor,” Verge explains on its website.

XVG is a minable virtual currency with 15 billion in supply, out of 16.5 billion. The coin experienced two hacks earlier this year, including a >51% attack, where hackers take over more than half of the computing power (hashrate) to mine a currency.