Voyager Digital announces Coinify ApS acquisition: should you buy VGX?
- VGX has seen an increase in trading volume of 550% in the last 24 hours.
- This has raised its market cap by 32%.
- The value of the token has increased by 32%.
VGX VGX/USD was formerly known as BQX before rebranding. This token is the native cryptocurrency token of the Voyager cryptocurrency exchange which is a commission-free cryptocurrency trading platform and uses VGX to reward the users within the ecosystem.
VGX shot up in value by 32% in the last 24 hours, which led to a 32% increase in its market cap, and this is the result of an increase in trading volume by 550% within the span of the last 24 hours.
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Ever since the start of 2021, VGX has provided investors access to cryptocurrency trading options.
The Acquisition of Coinify ApS as a catalyst for growth
Voyager Digital announced that they would acquire Coinify ApS, which is a cryptocurrency platform with a worldwide user base in 150 countries.
Throughout the purchase terms, the consideration of Coinify shareholders will consist of 5.1 million newly issued shares of Voyager Digital common stock as well as $15 million in cash. Voyager will retain $5.5 million of cash on Coinify’s balance sheet according to the agreement.
This acquisition will give Voyager access to the payment industry through the platform availability in Europe, Asia, North America, and South America.
Should you buy Voyager (VGX)?
On January 1, VGX was worth $0.16. On August 3, VGX was worth $3.06. This marks an increase of 1812% since the beginning of the year.
However, things get more interesting the more you look into its history, as on January 6 of 2018, it achieved its all-time high value of $12.47. That’s 7693% higher than the value it had at the beginning of 2021 and 307% higher than the value it had on August 3. This is just an indication of the kind of potential the token possesses when it comes to increasing its value.
To further analyze its growth, let us see how it performed in July.
On July 1, it went up to one of its highest points at $2.43. This made it 20% lower in value than the one it had on August 3. Then it dipped as low as $1.56 on July 20, which indicates that it got to a point where it was 49% lower in value.
The Voyager Token uses Smart Routing technology in order to take advantage of discrepancies between listed prices on cryptocurrency exchanges that help it connect instantly through different exchanges where investors have the opportunity to pick the best exchange rate available for their specific transactions. The token itself was issued as an ERC-20 token running on the Ethereum network.
When we take all of this into consideration, it is clear that the token is slowly climbing back in value, and with the 550% increase in trading volume, we can assume that the price will go up even higher.
In fact, the price could reach the $5 mark by the end of August.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use: