Voyager Token (VGX), also known as BQX at some exchanges, is the native token of Voyager cryptocurrency commutation.

The exchange separates itself from its competitors by claiming to exist a commission-complimentary crypto broker platform and its smart order router likewise allows clients to trade at multiple exchanges.

Since the turn of the year, VGX has gained 620% and on January. 15 the token reached a new all-time loftier at $1.48.

Voyager (BQX) token cost at Binance. Source: TradingView

In addition to having a fiat gateway, the platform besides offers market data, interactive charts,crypto enquiry and up to nine% interest on stablecoins, forth with staking returns for Bitcoin and other cryptocurrencies if users leave them in their exchange wallets.

Token activity sees exponential growth

On-chain information shows that action started to pick up just a few weeks agone, with the number of daily agile addresses surpassing 1,500 while transfers quickly reached $sixty meg.

VGX daily transfers and unique addresses. Source: etherscan.io

The Invest Voyager app allows traders to earn interest with no lock-ups and users staking a certain quantity of VGX token unlocks higher yields. Furthermore, the platform is endemic by a listed company in Canada, Voyager Digital Ltd. (CSE:VYGR), a $600 one thousand thousand market capitalization fully-regulated entity.

The Canada TSX commutation listing deal also hides an interesting story. By acquiring a defunct shell company, Voyager was able to manage a reverse merger in Feb. 2019. More interestingly, not a unmarried USD has been paid for the deal, which involved shares of the new visitor.

In Oct. 2019, Voyager appear a partnership with Celsius Network to manage a portion of its clients' assets. Thus, the broker was able to diversify its staking offer.

Another notable milestone was Circle Invest acquisition completed in Feb. 2020, converting more than 40,000 accounts. Circle Invest was previously involved with the USD Coin (USD) stablecoin, besides Poloniex substitution, although both projects had already been divested. It is worth noting that the deal did not involve greenbacks, existence settled in Voyager Digital shares.

These developments explain the current uptick in user accounts and token activity and similar to Coinbase, Voyager'south fiat on-ramp and regulated 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

Currently, Voyager exchanges is available to every U.S. country except New York, as the company waits for its BitLicense approval. In Oct 2020, Voyager Digital caused France-based LGO, a fully licensed European digital asset exchange focused on institutional investors.

LGO CEO Hugo Renaudin explained that the French company would discontinue its dedicated institutional substitution, while LGO would operate nether the Voyager brand, although focusing more often than not on retail.

The overall traded book on Voyager'southward platform reached $120 1000000 in November. 2020, while its asset under management surpassed $485 million on January. 15. To date, more 200,000 users have downloaded the iOS and Android applications and further expansion into Europe should increase the platform'due south user base.

Voyager (VGX) Twitter user activity vs. price (USD). Source: TheTie

Data from TheTIE, an alternative social analytics platform, shows that the recent price spike was preceded past increased social network activity. Apart from a few users complaining of KYC-related withdrawal bug, the general sentiment around Voyager and VGX are positive.

Offering up to 9.5% annualized interest returns on stablecoins and being a fully-licensed broker offering altcoin trading and staking to U.S. citizens seem to exist the primary drivers behind the platform'southward momentum.

As for the economics behind the VGX token, the possibility of a debit bill of fare with cashback rewards, withdrawal fee disbelieve, and interest booster on staking might be needed to drive its valuation further.

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