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TU IS
Voyager Token (VGX-USD), the native digital coin of insolvent crypto brokerage Voyager Digital (OTCPK:VYGVQ), added to its abrupt rally in early Friday morning trading as bids for VYGVQ’s assets are due.
VGX, the 150th largest crypto by market cap, surged over 135% to $0.64 at around 9:00 a.m. ET, down slightly from its session peak of $0.66, according to data from CoinMarketCap. Still, the token remains significantly below its all-time high of $6.90 in mid-February 2021, when the crypto space was at its heights.
The huge intraday upswing comes as Voyager Digital (OTCPK:VYGVQ), which filed for Chapter 11 bankruptcy in the beginning of July due to liquidity issues spurred by a market downturn, was said to have attracted takeover interest from prominent crypto exchanges Binance and Sam Bankman-Fried’s FTX.
Meanwhile, major cryptos declined slightly ahead of Federal Reserve chief Jerome Powell’s highly-anticipated speech at 10:00 a.m. ET. His keynote at the Jackson Hole Economic Symposium is expected to cover the central bank’s thinking behind its ongoing tightening cycle to dull inflation.
Bitcoin (BTC-USD) slipped 0.6% to $21.55K, and ethereum (ETH-USD) slid 2.4% to $1.66K. Some other popular cryptos in the red include, solana (SOL-USD) -3%, dogecoin (DOGE-USD) -1.8%, shiba inu (SHIB-USD) -5.8% and avalanche (AVAX-USD) -1.7%. A couple of exceptional gainers were ripple (XRP-USD) +2.6% and cardano (ADA-USD) +2.2%.
Earlier this week, (August 25) bitcoin down, ether up as traders await Fed chair Powell’s keynote.
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Image and article originally from seekingalpha.com. Read the original article here.