Voyager Digital's token spikes 42% as day traders cheer the firm's acquisition of crypto custody and payments platform Coinify

• Voyager Token spiked 42% to a 24 hour high of $3.44 Tuesday as traders cheered on the coin's parent company's new acquisition.
• On Monday Voyager Digital said it will acquire crypto payments firm Coinify.
• The Voyager Token is the 89th largest crypto by market capitalization according to CoinMarketCap data.

Voyager Token spiked 42% to a 24-hour high of $3.44 around 9:10 a.m. ET on Tuesday as traders cheered on the coin's parent company's new acquisition, according to data from CoinMarketCap.

On Monday, cryptocurrency broker Voyager Digital announced it would acquire crypto custody and payments platform Coinify. Voyager intends to bolster its international expansion through the acquisition of the Denmark-based platform.

"As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager's digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy, and secure way to make payments from their Voyager accounts," said Voyager co-founder and CEO Stephen Ehrlich in a press release.

Day traders on Stocktwits praised the firm's decision and cheered on the Voyager Token's spike on Tuesday.

"Recently acquired company Coinify further expanding their global footprint in payment processing space. Voyager is still in its infancy, paving the way in crypto expansion and payment processing (ex Canada, Europe etc..)," one user commented."

"I think it's time for everyone to YOLO!," another said.

The token was the number 3 trending ticker on Stocktwits Tuesday morning. When the Voyager Token was up 42% for the day, it carried a current market capitalization of roughly $743 million, making it the 89th largest cryptocurrency on CoinMarketCap at that time.

Meanwhile, shares of Voyager Digital are up over 250% year-to-date.