Why Voyager Token (VGX) Is Shooting Higher Today

Voyager Token VGX/USD, a token linked with digital assets trading firm Voyager Digital spiked 3.9% to $0.71 at 10:26 p.m. EDT.

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On Monday night, FTX US, a cryptocurrency exchange headed by Sam Bankman-Fried, won the bid to acquire Voyager Digital for $1.3 billion at prevailing market prices.

Bids for Voyager were also forthcoming from platforms such as Binance and CrossTower. 

Voyager filed for Chapter 11 bankruptcy after Terra (LUNA) collapsed and the exchange also took a hit from Three Arrows Capital’s default and subsequent liquidation. 

The 24-hour trading volume for VGX was down 41.8% at $33.425 million, according to data from CoinMarketCap.

Separately, Luna Classic (LUNC), the cryptocurrency that inherited the original Terra blockchain after a hard fork, emerged as the top intraday gainer among massive volume spikes after Binance said it would implement a burn mechanism.

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