- Voyager collectors have summoned high executives from FTX and Alameda Analysis to a deposition on 23 February.
- A decline in shopping for stress for VGX will end in an extra worth decline.
In a brand new court filing, the unsecured collectors’ committee of Voyager Digital has issued subpoenas to high executives from FTX and Alameda Analysis.
This comes two weeks after the chapter directors issued comparable summons to founder and former CEO Sam Bankman-Fried, former Alameda chief Caroline Ellison, FTX co-founder Gary Wang and the alternate’s head of product, Ramnik Arora.
Learn Voyager [VGX] worth prediction 2023-2024
Within the newest court docket submitting, the summoned executives are anticipated to seem for depositions on 23 February. The newly issued sequence of subpoenas kind a part of efforts by Voyager’s collectors towards investigating FTX’s efforts to bail out the crypto lender when it went bankrupt in July 2022.
VGX holders proceed to experience ache
At press time, VGX exchanged fingers at $0.5164. Regardless of experiencing a 71% improve in worth year-to-date on account of the general market rally, the token’s price has plummeted by greater than 50% following Voyager’s chapter announcement in July 2022.
With lingering uncertainty concerning the actual date when buyers and customers of the bankrupt crypto lender can be made complete, VGX has been trailed by destructive sentiments since 1 December 2022.
Knowledge from on-chain knowledge supplier Santiment confirmed the token’s weighted sentiment to be pegged at -0.152 at press time.
Furthermore, holders proceed to log losses regardless of the latest rally within the alt’s worth within the final month. Per knowledge from Santiment, since Voyager declared chapter seven months in the past, VGX’s MVRV ratio has been destructive.
The newest worth progress didn’t change that. At press time, VGX’s MVRV ratio was -90.88%.
When a crypto asset’s MVRV is lower than zero, it implies that the common investor who holds that individual cryptocurrency is making a loss on their funding.
Which means the present market worth of the cryptocurrency is beneath the common value at which buyers acquired the cash. In different phrases, the market is bearish, and the promoting stress is excessive.
Within the quick time period, count on this
Sharing a statistically important constructive correlation with Bitcoin [BTC], an evaluation of VGX’s efficiency on the each day chart revealed that the alt’s worth was impacted by the disadvantage within the king coin’s worth.
A take a look at the token’s Transferring common convergence/divergence (MACD) revealed the graduation of a brand new bear cycle on 6 February. Since then, VGX’s worth has fallen by 4%, in response to CoinMarketCap.
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A worth decline is usually precipitated by an preliminary fall in shopping for stress, which was what occurred in VGX’s case. The token’s Chaikin Cash Circulate (CMF) breached the middle line in a downtrend to be noticed at -0.42 at press time.
When an asset’s CMF is destructive, it means that the promoting stress on the asset is excessive, as the cash flowing out of the asset is bigger than the cash flowing into it.
A continued decline in shopping for stress mixed with destructive buyers’ sentiment will end in an extra fall in VGX’s worth within the meantime.