Bitcoin (BTC) price has surged in the past month, reaching an all-time high, while other cryptocurrencies have also gained momentum.
Voyager cryptocurrency’s native token VGX, which is traded on some exchanges with the BQX tag, achieved an extraordinary rise, peaking at 1,030.8 percent in a month.
The value of the Voyager token against the dollar. Source: TradingView
Voyager token, which was traded at the lowest $ 0.12702172 on January 4 in the last month, reached the top of the last two years with $ 1.43636321 on January 15.
The change of VGX, which found a buyer at $ 0.94406829 at the time of the news publication, was calculated as 643.23 percent in the last month.
Why did Voyager rise so fast?
Saying that it is a commission-free crypto currency platform, Voyager falls into a separate category from its competitors. The system, which includes a smart order router, allows customers to trade in more than one exchange.
Exchange users can earn staking income if they have money in their wallets.
According to on-chain data, it is observed that the number of active addresses of the exchange daily exceeded 1,500, and the transfers reached 60 million dollars rapidly.
VGX daily transfer amount and number of addresses. Source: etherscan.io
Voyager announced in October 2019 that it has partnered with Celsius Network to manage some of its customers’ assets. Thus, the protocol diversified the staking services. An important milestone was the Circle Invest acquisition, which was completed in February 2020. These developments explain the current increase in user accounts and token activity.
The total transaction volume on the Voyager platform reached $ 120 million in November 2020, while the amount of assets under its management exceeded $ 485 million on January 15.
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