Cryptocurrency

Analyzing Voyager’s anti-ageing spell post 2000% hike in trading volume

Voyager token (VGX), the native cryptocurrency of the ‘troubled’ Voyager platform appears to be beneath an anti-aging spell. Herein, the one notable achieve out of the highest 200 cash got here from the embattled cryptocurrency brokerage platform Voyager.

On CoinMarketCap, the VGX token gained 43.15% over the previous 24 hours. And, it was trading at $0.773 throughout press time.

Like an open guide

Bankrupt centralized crypto lender Voyager Digital filed a notice with the United States Bankruptcy Court for the Southern District of New York. The workforce knowledgeable the courtroom of its intention to carry an public sale of its remaining property.

The public sale is proposed to happen on 13 September on the Manhattan workplace of Digital Voyager’s funding banker Moelis & Company, with a listening to to approve the outcomes on 29 September.

Apart from the plain angle of hassle right here, it additionally implied that Voyager obtained a couple of substantial bid for its property.

In a tweet, Voyager confirmed that it had obtained a number of bids for its property as a part of its restructuring course of.

This growth comes days after the centralized crypto lender rejected a proposal from the FTX trade.

Showcasing energy

The firm’s native token did showcase a much-needed rally as may be seen in the graph beneath.

Source: CoinMarketCap

Moreover, with important trading exercise, trading volume for the VGX token surged by ~2000% in the final 24 hours. In truth, as per an August finish report, trading volume stood at $87.60 million, the best each day volume the token logged in the previous 30 days.

Following the momentum, VGX’s social metrics too reiterated a bullish sketch as highlighted by LunarCrush. The analytical platform acknowledged the token’s spectacular efficiency in an 8 September tweet.

However, it wasn’t as clear as it would sound. The way forward for Voyager Digital and VGX token stood largely unknown. Ergo, warning is required earlier than trading or investing in the identical.

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