Verge (XVG) reached another milestone in its history, as the block reward halved from around 1,500 coins to 750 a minute for the block discoverer. The halving, happening every four years, is a milestone for many coins, sometimes working to lift the price.
After the news, XVG gained 6.89% on the Asian markets to $0.075, but prices are near the lower range for the past month. The XVG price remains volatile, with high spikes in volumes often followed by stagnation.
In the case of XVG, however, the news was expected. On a more positive note, the Verge project gets a boost from the Tokenpay partnership, promising to launch a debit card soon.
The biggest problem of crypto coins is the access to banking services - and this problem is solved by Tokenpay through an acquisition of a licensed banking company in Germany, which may be owned completely in the near future.
Token Pay Swiss AG has acquired 9.99% of the shares from the German WEG Bank AG, with an option to acquire the rest of the shares. Having a crypto company with its own banking license and no danger of being denied service is a great advantage to Verge. This way, the fate of projects like TenX and others that used third-party services will be avoided.
The XVG price may see additional pressure, either up or down, from the upcoming listing on the BiteBTC exchange later today.
The XVG market price forms its volume from BTC trading, with only a very small share of direct USD trading, as well as USDT inflows. Binance has returned as the leading carrier of XVG, with more than 36% of volumes concentrated there.