Demex Daily #48: $VGX Voyager Digital's VGX Token Up 20% After $7.3M Burn Reduces Supply by 30%

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The Voyager Token (VGX) experienced a 20% price increase after a wallet associated with the bankrupt crypto brokerage Voyager Digital transferred 52 million VGX tokens, worth approximately $7.3 million, to a burn address, effectively removing about 30% of its total supply from circulation. This marked the wallet's first transaction in 225 days, following a small test transfer. The reason for the burn remains unclear, especially in the context of Voyager's bankruptcy proceedings and asset liquidation plans set earlier in the year. Voyager Digital has yet to comment on the action.