Token activity sees exponential growth
On-chain data shows that activity started to pick up just a few weeks ago, with the total of daily active addresses surpassing 1,500 while transfers cursorily reached $ 60 million .VGX daily transfers and unique addresses. Source: etherscan.io The Invest Voyager app allows traders to earn concern with no lock-ups and users staking a certain quantity of VGX keepsake unlocks higher yields. furthermore, the platform is owned by a listed company in Canada, Voyager Digital Ltd. ( CSE : VYGR ), a $ 600 million market capitalization fully-regulated entity. The Canada TSX exchange list softwood besides hides an matter to narrative. By acquiring a defunct carapace company, Voyager was able to manage a reverse amalgamation in Feb. 2019. More interestingly, not a individual USD has been paid for the hand, which involved shares of the modern ship’s company. In Oct. 2019, Voyager announced a partnership with Celsius Network to manage a fortune of its clients ’ assets. therefore, the broke was able to diversify its staking oblation. Another noteworthy milestone was Circle Invest learning completed in Feb. 2020, converting more than 40,000 accounts. Circle Invest was previously involved with the USD Coin ( USD ) stablecoin, besides Poloniex substitute, although both projects had already been divested. It is worth noting that the distribute did not involve cash, being settled in Voyager Digital shares.
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These developments explain the stream uptick in drug user accounts and keepsake activity and exchangeable to Coinbase, Voyager ’ s decree on-ramp and regulate status could make the exchange a top choice for future crypto investors located in the United States .
VGX price growth follows new acquisitions and European expansion
presently, Voyager exchanges is available to every U.S. state of matter except New York, as the company waits for its BitLicense approval. In October 2020, Voyager Digital acquired France-based LGO, a amply licensed european digital asset exchange focused on institutional investors. LGO CEO Hugo Renaudin explained that the french company would discontinue its dedicated institutional exchange, while LGO would operate under the Voyager brand, although focusing largely on retail. The overall trade volume on Voyager ’ south platform reached $ 120 million in Nov. 2020, while its asset under management surpassed $ 485 million on Jan. 15. To date, more than 200,000 users have downloaded the io and Android applications and farther expansion into Europe should increase the platform ’ s exploiter base .Voyager (VGX) Twitter user activity vs. price (USD). Source: TheTie Data from TheTIE, an option social analytics chopine, shows that the holocene price spike was preceded by increased social network activity. aside from a few users complaining of KYC-related withdrawal issues, the general opinion around Voyager and VGX are positive.
Offering up to 9.5 % annualized interest returns on stablecoins and being a fully-licensed broke offering altcoin trade and staking to U.S. citizens seem to be the elementary drivers behind the platform ’ mho momentum. As for the economics behind the VGX token, the possibility of a debit batting order with cashback rewards, withdrawal fee deduction, and interest booster on staking might be needed to drive its valuation far. The views and opinions expressed here are entirely those of the generator and do not inevitably reflect the views of Cointelegraph. Every investment and trade go involves risk. You should conduct your own research when making a decision .