Wednesday, December 7, 2022
    HomeMarketVGX Price Prediction as the Voyager Digital Token Flies

    VGX Price Prediction as the Voyager Digital Token Flies


    The VGX worth surged to the best level since July 18 because the bidding struggle for Voyager Digital continued. The token rose to a excessive of $0.6872, which was nearly 400% above the bottom stage this yr. Because of this, its complete market cap surged to over $182 million.

    Why is Voyager Digital token rising?

    Voyager Digital was a number one Canadian cryptocurrency alternate that dealt with billions of {dollars} each week. The state of affairs modified a number of months in the past following the crash of Terra’s ecosystem, Celsius, and Three Arrow Capital. 

    Voyager Digital, dealing with a significant money squeeze, determined to file for voluntary chapter in a bid to arrange its sources. It additionally determined to cease deposits, withdrawals, and the creation of recent accounts. The VGX token continued buying and selling.

    Behind the scenes, a bidding struggle by a number of the largest corporations within the crypto business like Coinbase, FTX, and Binance. In complete, there have been about 22 suitors for the corporate.

    Now, the VGX token worth rose after it emerged that FTX and Binance have been the principle contenders. In response to Coindesk, Binance has moved aggressively to accumulate these property. FTX, which made a proposal to purchase the corporate final month, continues to be pursuing the corporate’s property. 

    Coinbase had partnered with Callaway Capital Administration to launch a bid however then walked away. In addition to, the corporate’s inventory worth has crashed arduous this yr. 

    Subsequently, the VGX worth is rising as buyers deal with the way forward for Voyager now that it looks as if it will likely be saved by an even bigger firm. The rise can be a part of a brief squeeze that has been occurring prior to now few months.

    VGX worth prediction

    The four-hour chart exhibits that the Voyager Digital worth has been in a bearish pattern prior to now few weeks. On this interval, the coin fashioned a falling wedge sample, which is normally a bullish signal. This sample additionally explains why the coin has gone parabolic prior to now few days. 

    Voyager moved above the 25-day and 50-day transferring averages whereas the Relative Power Index (RSI) moved above the overbought stage. Subsequently, I believe that the coin will now retreat as the keenness concerning the firm’s acquisition fades. If this occurs, the subsequent key assist at $0.3800.

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