Voyager token's chart-busting rally of over 250%, seems to have been triggered by sellers unwinding their bearish trades. reports godbole17
Bankrupt cryptocurrency lending platform Voyager Digital's native coin voyager has more than tripled in three days. According to one observer, the move appears to be driven by a short squeeze.
Since Tuesday, VGX has increased by 257% from $0.14 to $0.50 with prices hitting a high of $1.01 in the past 24 hours, CoinDesk data shows. "Pumping coins of insolvent businesses seem to be becoming a meta," CK Cheung, investment analyst at Defiance Capital, said."Similar pumps happened to Terra's LUNC token and Celsius'A short squeeze refers to a sharp rally fueled by the unwinding of bearish positions or sellers rushing to take profits. Assets like VGX, that are in a prolonged downtrend marked by extremely bearish investor sentiment, are typically prone to a short squeezes.
VGX hit a record low of $0.14 early this week, registering a 97% decline from the November peak of $5.81. Broader market downturn and concerns about the solvency of crypto companies, particularly lenders, roiled the VGX token in the year's first half. The market fears came true earlier this month, with the Toronto-based lender filing for
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Unique Ferrari 250 GT Lusso for saleYou've heard about all the Ferrari 250s by now; maybe not the Fantuzzi-bodied one, though...
Leer más »
The One-Off $30 Million Ferrari 250 SWB Breadvan Was Crashed At Le Mans | CarscoopsThis very same Ferrari 250 SWB Breadvan was damaged at the Goodwood Revival in 2015
Leer más »
US inflation surges again in June, raising risks for economySurging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing costs to follow.
Leer más »
Twitter lawsuit a ‘credible threat’ to Elon Musk’s ‘empire,’ short seller claimsShort seller Hindenburg Research on Wednesday said it had taken a long position in Twitter shares, sending the social media firm’s stock surging 6% in early trading.
Leer más »
Shiba Inu's BONE Trading Volume Hit 83% Within 24 Hours of Listing on Canadian ExchangeCanadian exchange reports 83% of Shiba Inu's BONE trading volume 24 hours after listing SHIB SHIBCommunity ShibArmy $BONE Bone Boneshibaswap Bonearmy Shibarium
Leer más »
Shiba Inu's BONE Trading Volume Hit 83% Within 24 Hours of Listing on Canadian Exchange⬆ +9 Shiba Inu's BONE Trading Volume Hit 83% Within 24 Hours of Listing on Canadian Exchange cryptocurrency
Leer más »