Voyager Token Price(VGX)

Voyager Digital's native coin voyager (VGX) surged Thursday after CoinDesk reported that leading digital assets exchange Binance's U.S. arm is relaunching a bid to purchase the bankrupt crypto lending platform. VGX jumped more than 55% to $0.45, the highest level since Oct. 21, according to CoinDesk data. The token is still down 85% this year. Voyager's previous sale, completed in September, saw FTX beat out Binance and Wave Financial. U.S.-based Voyager reopened the bidding process after Sam Bankman-Fried's crypto exchange FTX collapsed last week. Voyager filed for Chapter 11 bankruptcy protection in early July, citing more than 100,000 creditors and between $1 billion and $10 billion in assets and liabilities. Many crypto lenders, which had doled out large loans to the now-defunct hedge fund Three Arrows Capital, have suspended withdrawals and filed for bankruptcy in the past three months.

Binance.US, the American arm of the world’s largest cryptocurrency exchange, is preparing to bid for bankrupt lending platform Voyager Digital, according to a person familiar with the plans.A previous auction, which was completed around the end of last September, saw the now defunct FTX emerging as the “white knight,” winning out against rivals Wave Financial and Binance. At the time, CoinDesk had also reported that Binance's bid for the U.S.-based Voyager had been shut out due to national security concerns.Following FTX’s announcement last week to file for bankruptcy, Voyager said it had reopened the bidding process for the company, and is in active discussions with alternative bidders. Wave Financial and trading platform Cross Tower are reported to be in the running.Voyager did not return requests for comment by press time.Thomas Braziel, managing partner at investment firm 507 Capital said matters are complicated by the fact Voyager is going to have a claim against the FTX estate for breach of contract.“The problem is that the claim is only going to be against FTX US,” said Braziel in an interview. “I worry a lot of the collateral is going to be held in trust. So any cause of action they have could end up being behind all the customers. And the problem is that if customers aren’t going to be made whole, then what’s your unsecured claim going to be worth? It’s going to be worth bupkis.”Earlier this week, Binance CEO Changpeng “CZ” Zhao said his exchange is setting up an industry recovery fund to help rebuild the industry.“Binance is not looking to be the ‘white knight’ of crypto,” said Binance chief communications officer Patrick Hillmann in a message to CoinDesk. “There are no Luke Skywalkers or Darth Vaders in business. This is a company, with the most to lose as its market leader, looking around to see where we can help bolster the industry through a black swan event.”

Following the most recent sell off, the rest of the market has followed suit as we have seen an increase in selling pressure across the Binance convert portal for the majority of coins. Despite the troubles Voyager has faced the past few months, there has been an unexpected increase in buying volume accompanied by a rally in price of 82.8%. VGX has outperformed the market on the week. While it is unclear what has caused the surge in price, it has been attributed to Voyager's recent sale of assets. Tron DAO recently posted a blog post on how TRX uses 99.9% less energy compared to BTC and ETH. However, despite the good news both market cap and price continue to fall. Trade our top 5 weekly coins of interest here!Convert Portal Volume BreakdownTopping the week again was stablecoin transactions with a figure of 27.78%, the Binance convert portal offers tight spreads across all pairs. Start trading here! Second was Crypto to Stablecoin transactions taking up 25.15% of total volume for the week. With the market trading at a tough point, investors are moving to the sidelines in anticipation of the next move. Surprisingly, stablecoin to crypto transactions were third on the list with a value of 22.21%. Despite the market dropping, a large portion of buyers still remain confident as they will be averaging into positions. Overall market technicalsBTC: What's next?!BTC has been relatively stable this week as it traded within a tight range.We saw a similar pattern play out last week as BTC formed the previous range before it failed to reach above the high and then moved further towards the downside. As it stands, BTC is trading just above $20k around the weekly midrange; volume for the week has been scattered with neither bears or bulls controlling the narrative. One level to be wary of is $17,588.88 which was the low formed in June. If the bears are still in control of the current trend, this level will act as a target as the market will look for pools of liquidity resting below (acting as stop losses). The Crypto Fear & Greed Index is at ‘25’ showing Extreme Fear within the market, as the market continues to the downside. VGXVGX was a coin of interest this week as it outperformed the market, up over 82%. The company recently faced trouble as it was a victim of the LUNA crash that sent the market into a frenzy. Despite the weak fundamentals, the coin has seen extreme movements to the upside. Looking at the charts, VGX formed an all time low back in July and then almost immediately rallied 601%! Since then price traded slowly towards the downside and formed a short term support around 0.26, we then saw another huge rally to the upside of over 174%! Whilst it is unclear what was the interior motive behind both of these moves, it is likely that this was a textbook example of a short squeeze as bigger players look to liquidate those who anticipated the coin going to zero! (Another example is CEL token, which has traded in a similar fashion) As always, trade these coins with caution as they experience more volatility compared to the market. Crypto calendar 09/15/22 - ETH Mainnet Merge09/21/22 - EOS Mandel 3.1 upgrade 09/28/22 - TOKEN2049 Singapore News events of noteBinance teams up with Mastercard - Binance and Mastercard have partnered to launch a Cryptocurrency power card for customers in Argentina. Metaverse and NFT job market boom! - Despite the Crypto winter the Metaverse and NFT job market have remained unaffected. Another DeFi exploit! - Multi-Chain DEX, Kyberswap, loses $265k in latest DeFi exploit. More news found here! Why trade OTC? Binance offers clients two potential ways to trade OTC, the first being through Binance Convert which can be found here! Binance Convert offers a quick and simple way to execute crypto trades across 1500+ trading pairs, with more added every week! To start, simply navigate to the Convert webpage, select the coins you wish to trade, preview and confirm the quote, settlement is completed instantly and you can refresh the quote as many times as you’d like! Alternatively for larger block trades >$200k, voice trading is available with 24/7 coverage! Our expert team is available round the clock to help suit your trading needs offering tight, competitive spreads and the best in class service! Get in touch with the Binance OTC team for trade requests, advice and any other questions you may have! From start to finish our team is with you every step of the way! Experience the main benefits of Binance Convert and OTC Trading: Fast & Competitive Pricing Instant settlement Widest availability of coins Bespoke service with unique market insights Zero fees and slippage Email: Liquidity@binance.com Join our Telegram to stay up to date with the markets!