Voyager cryptocurrency exchange recently saw its native coin, Voyager Token (VGX) price skyrocket by over 900%. The surge came rather suddenly, pushing the token to a new all-time high.
Voyager Token price skyrockets
Voyager Token, which is also known as BQX at some trading platforms, managed to surge as much as 620% recently, and its new all-time high arrived on January 15th, when the coin hit $1.48.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
According to recent data, it appears that the coin started seeing an increase in activity several weeks ago. The number of its daily active addresses started climbing without warning, and it quickly surpassed 1,500. Meanwhile, it also started seeing a growth in volume, with transfers reaching $60 million soon after.
All of this pushed the coin up, and brought a lot of attention not only to the coin, but also to its platform. Users quickly learned that the Voyager exchange doesn’t charge commissions for its crypto broker services, and that it has a smart order router that allows clients to reach multiple other brokers through it.
The platform also operates as a fiat gateway, it offers interactive charts, market data, crypto research, staking returns for a number of cryptos including Bitcoin (BTC), as well as 9% interest on stablecoins.
Voyager’s rapid expansion
Another thing that the exchange has going for it is the Invest Voyager app, which allows traders to make a passive profit through interest, but it doesn’t obligate them to lock up their tokens. Staking is possible, of course, and those who opt to stake VGX can earn higher yields.
Back in February 2019, Voyager also got listed on the Canada TSX exchange through a reverse merger. Interestingly enough, the deal did not involve a single USD. Later that same year, Voyager also teamed up with Celsius Network (CEL), which has been managing a portion of its users’ assets ever since.
One year after the reverse merger, Voyager also acquired Circle Invest, converting over 40,000 accounts. In 2021, Voyager is available across the US, apart from the state of New York. It has applied for the state’s Bitlicense, but it still waits for official approval. It is also expanding to Europe thanks to last year’s acquisition of France-based exchange, LGO.