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- Over a seven-day trailing period, VGX, a cryptocurrency trading service’s token, has risen 59.09 percent
- The fact that the Voyager token will be published on Coinbase Global Inc’s COIN -4.07 percent Pro platform boosted the coin’s value
- Following the Coinbase announcement, VGX, the token of the controlled exchange Voyager, increased by 70% on November 17 as the currency received more retail momentum
Over a seven-day trailing period, VGX, a cryptocurrency trading service’s token, has risen 59.09 percent. According to CoinMarketCap data, the 24-hour trading volume of VGX increased by 749.24 percent to over $63.7 million. VGX has gained 42.68 percent and 40.23 percent against major cryptocurrencies Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), respectively. VGX has gained 78.02 percent in the last 30 days, and it has gained 2390.78 percent since the start of the year. At press time, the Voyager token price had risen in tandem with the worldwide cryptocurrency market value, which had risen 2.82 percent to $2.65 trillion.
The fact that the Voyager token will be published on Coinbase Global Inc’s COIN -4.07 percent Pro platform boosted the coin’s value. Trading in VGX will commence on or after 9 a.m. PT on Thursday, according to Coinbase’s blog. At the time of publication, VGX had a greater level of interest from retail investors, and it was trending on Stocktwits. On CoinMarketCap, the token was also trending. On Yahoo Finance, Stephen Ehrlich, CEO of Voyager Digital Ltd VYGVF -5.91 percent + Free Alerts, stated that the firm was experiencing a historic quarter. The CEO also mentioned the introduction of a Mastercard debit card.
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Following the Coinbase announcement, VGX, the token of the controlled exchange Voyager, increased by 70% on November 17 as the currency received more retail momentum. The Coinbase effect, which has positively benefited the price of numerous cryptocurrencies over the past few years, has been created to describe the surge in cryptocurrency prices following a listing on the US-based exchange. Voyager’s CEO, Stephen Ehrlich, recently indicated that the company had a record quarter and that the recent Bitcoin price drop increased traffic on the controlled exchange.
BTC’s downward trajectory, according to Ehrlich, increases volume on Voyager’s platform. On Nov. 15, Voyager Digital announced $0.18 profits per share on revenue of $81.51 million for the first quarter. The company’s assets under management increased to slightly under $7 billion in the most recent quarter. After ending 7.36 percent down at $15.57, Voyager Digital’s OTC shares gained over 2% to $15.88 in the after-hours session on Wednesday. While the Voyager token’s price has risen significantly in the last 24 hours, a bullish chart pattern shows that the token still has space to rise higher.
On the daily chart, VGX price has formed a cup and handle pattern, with a 43 percent bullish forecast toward $5.00 from the pattern’s neckline. The positive thesis has been proven after the Voyager token sliced over the resistance barrier of the technical pattern on November 17. The 78.6 percent Fibonacci retracement level at $3.98 would provide immediate support for the VGX price. The 61.8 percent Fibonacci retracement level at $3.52, which coincides with the neckline of the ruling technical pattern, may provide additional support.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
