Verge Coin Price Surges 37% After PayPal’s Decision to Stop Payouts for Pornhub Performers

Cryptocurrency Verge (XVG) trading volume increased more than 16x times in 24 hours after PayPal abruptly stopped payouts for performers on the adult entertainment webpage Pornhub, surging 37% XVG price increase.

On November 14, Pornhub announced that they were “devastated by PayPal’s decision” to not operate with workers from the industry and reminded everyone about other payment options, including the cryptocurrency of the anonymity-focused XVG network that became available in April 2018 through a partnership with PumaPay.

The Verge coin price on November 14 at 12:00 was $0.00379, today at the same time the price equals $0.00521, which is a 37% increase in the last 24h, shows COIN360 data graph.

During the same period of time, trading volume increased 16x times, as on November 14 at 12:00 it was $2.46M, and today at the same time it had increased to $40.26M. XVG market capitalisation increased by 33% to $84.03M from $62.96M during the same period of time.

Pornhub is reportedly planning to add other cryptocurrency options payment beyond XVG for the performers. Last June the company mentioned TRON and ZCash as possible alternatives, but have not gone through with it yet.