Today, crypto exchange Voyager Digital (OTCMKTS:VYGVF) is seeing a tremendous amount of interest from investors. Currently, Voyager Digital stock is up more than 30% on a heavy volume day. This move follows similar ones in recent days, with VYGVF stock more than 50% higher this week alone.
Of course, interest in the crypto sector has once again heated up. The rise of various meme tokens has led to an investing frenzy. For crypto exchanges, this is a good thing. Companies like Voyager Digital earn transaction fees on every trade made on their platform. Accordingly, during boom times, these crypto exchanges can be among the best ways to play a rush toward digital assets.
Voyager pegs itself as one of the fastest-growing decentralized trading platforms in the crypto space. It’s also among the few publicly traded options for investors. Accordingly, those seeking exposure to a picks-and-shovels way to play the crypto world have liked this stock for some time.
Today’s price action has brought VYGVR stock to its highest level in a month. Let’s dive into what’s driving today’s move in this crypto exchange stock.
Voyager Digital Stock Soars on Strategic Investment
Today, Voyager Digital announced the company has received a $75 million strategic investment. This investment comes from Alameda Research, one of the largest crypto market makers globally.
Accordingly, it appears investors looking for validation of Voyager Digital’s platform have got it today. This investment is as much a confirmation of Voyager’s underlying technology than anything else. And given Voyager’s positioning as a smaller player in the fast-growing crypto exchange space, this has provided a much-needed boost for investors.
Alameda believes Voyager has the ability to scale and should see explosive growth. Accordingly, this investment is being viewed by both parties as an accelerant for this growth.
For investors looking at Voyager Digital stock from the outside in, this investment is certainly something to note. Accordingly, VYGVF stock will be one we’ll be following in the days to come, to see if this rally will be sustained.
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.
