News of the collapse came from the bankrupt cryptocurrency company Voyager Digital.
According to Coindesk, Voyager sent 52 million VGX tokens to the burning address in its native token, VGX.
It was stated that the VGXs sent to the incineration address were worth $ 7.3 million.
After it was revealed that Voyager had sent 52 million VGX to the burn address, the VGX price increased by over 20%.
While it is currently unclear why 52 million VGX tokens, which is approximately 30% of the total supply of VGX, were sent to the burn address, Etherscan data shows that a wallet labeled “Voyager 1” had 123.45 VGX tokens before sending $7.3 million worth of VGX. It was stated that he sent it as a test.
VGX, which increased by more than 20% after the news, rose to $ 0.1498. Giving away some of its gains, VGX continues to trade at $0.1326 at the time of writing.
*This is not investment advice.