The cost of the VGX token jumped by 500% in two days. Market participants suspect a manipulative appreciation.
MetaFormLabs (MFL), unknown to the participants of the crypto market, positioning itself as a venture company, accelerates the quotation of the utility token of the bankrupt Voyager Digital (VGX) crypto broker. At the moment, the cost of VGX rose above $1.
VGX hit an all-time low of $0.14 earlier this week, recording a 97% decline from its November 2021 peak of $5.81.
MetaFormLabs announced on Twitter that it plans to boost VGX quotes to $5-8 in the near future. At the same time, there is no reliable evidence of the registration of such a company as a professional market participant in the network.
“Now we have $50 million of our own funds and another $67 million provided by well-known crypto enthusiasts. We are setting a new VGX target range,” announced MetaFormLabs.
The MFL team explains its motives by the desire to save the shareholders of Voyager Digital, who “fell the victim of a series of fatal events after the collapse of the Terra ecosystem.”
The declared financial capabilities of MetaFormLabs, which volunteered to save Voyager investors, are disproportionately small compared to industry giants FTX and Binance, who announced plans to support the industry.
Source: Bits
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