Today, one of the biggest movers in the cryptocurrency world is Voyager Token (CCC:VGX-USD). Indeed, investors looking at the Voyager Token price will note that VGX crypto is currently up more than 50% over the past 24 hours. Volatility is to be expected in crypto; however, today’s move is very large even by crypto standards.
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Indeed, Voyager has been an exchange crypto investors may have been watching for some time. That’s because Voyager’s platform allows crypto investors to earn a yield on holding their cryptocurrency. Via buying and holding various tokens on Voyager’s platform, investors can earn an annual percentage yield (APY) of up to 12% on more than 60 digital assets. Of course, buying VGX crypto is one of the prerequisites for the higher yields. Hence the interest in this cryptocurrency recently.
That said, as a leading price-gainer among cryptocurrencies, investors may be right to assume there’s a big catalyst at play with Voyager Token. Let’s dive into what’s driving investor interest in VGX crypto today.
VGX Crypto Seeing Boost from VGX 2.0 Swap
One of the big catalysts investors in VGX crypto have been waiting for is the upcoming swap of VGX tokens for a new VGX 2.0 token. Actually, this process is currently underway. Voyager has been swapping tokens since Aug. 16, with the process expected to wrap up tomorrow.
This new token is touted as a way for investors to earn an even higher yield on their crypto holdings. That is, if a 12% yield wasn’t enough to entice early investors to begin with. Investors can get cash back on trades and unlock other benefits by holding VGX 2.0 in their portfolio on the Voyager exchange.
It appears investors are looking to grab as many VGX tokens prior to the swap end date as possible. As with any other cryptocurrency, these tokens increase or decrease in price based on supply and demand. Given the updated incentives to hold VGX crypto, it appears clear investors are banking on some impressive demand for these tokens.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
