Voyager Token price prediction: What next for VGX?

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The VGX token is on the brink after 3AC controversy

The VGX logo on a world map                                 
Voyager’s platform uses smart order-routing technology, connecting the brokerage to more than 10 exchanges – Photo: Shutterstock
                                

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Voyager had an exciting year in 2021. A wave of new tokens was added to the online brokerage, improving its position in the crypto trading market. That, combined with a major update to its Voyager Token, was enough to bring investors flocking to VGX.

But as the wider crypto industry took a turn for the worse in 2022, so did the Voyager Token. VGX's recent downturn has been further fuelled by Three Arrows Capital defaulting on more than $600m in crypto loans. By 1 July, the network made the “difficult but necessary” decision “to temporarily suspend trading, deposits, withdrawals, and loyalty rewards”.

By 5 July, crypto broker Voyager Digital filed for Chapter 11 bankruptcy as part of their asset protection plan. Stephen Ehrlich, Voyager CEO, said he felt this was the best route for his clients considering the market pressures, and assured that the move would protect assets on the platform, as well as the smooth running of Voyager.

A few weeks later, MetaFormLabs initiated a campaign to pump VGX. The initial pump, aligning with Twitter tag #PumpVGXJuly18, saw the token rally, reaching highs of $0.6919 on 18 July. However, as of 3 August, the token is currently trading at $0.3524.

Does the VGX price prediction think it can make a comeback?

What is Voyager?

Voyager wanted to bring the brokerage concept from traditional finance to the crypto world. It provides investors with a secure way to invest in a range of cryptocurrencies. The secret behind Voyager’s platform is “smart order-routing technology”, which connects the brokerage with more than 10 different exchanges.

Since launching in 2018, Voyager has built up a portfolio of more than 100 cryptocurrencies, with an easy-to-use mobile app and its own debit card. With its range of products, Voyager is bringing in both retail and institutional investors.

The parent company of the brokerage platform is Crypto Trading Technologies. It has four founders: brokerage veteran Stephen Ehrlich, former Morgan Stanley analyst Philip Eytan, ex-Warner Music advisor Gaspard de Dreuzy, and Oscar Salazar, the founding architect behind Uber.

So what is Voyager Token (VGX)? VGX is the cryptocurrency that fuels the brokerage. It can given as rewards to users of the platform, or used to generate interest through the Voyager app. VGX has been around for some time, with the brokerage token usually reflecting the wider market. This has led it to perform fairly bearishly over the course of 2022 so far.

Voyager’s past performance

The Voyager Token launched before the platform on 18 July 2017 at $0.06. For the rest of the year, it fluctuated between its launch price and $1.25. The token saw its biggest breakout at the beginning of 2018, when the crypto market was performing particularly bullishly. It hit its all-time high of $12.54 on 5 January 2018.

The token immediately corrected afterwards and stayed roughly around the $4 mark in the following month. VGX managed to pass $5 again in early March 2018, but fell throughout the rest of the month, stooping to $2.

The Voyager Token saw another rally, hitting a peak of $5.02 on 10 May 2018. This came as Voyager announced it was releasing its mobile app by the end of 2022.

However, VGX proved vulnerable to the crypto crash in 2018. After its peak in May, the token kept dropping and was trading at $0.12 by the end of the year. The Voyager Token could not overcome this trend for the next two years, and stayed below $1 until 2021. 

At the end of 2020, VGX began a rally that extended into a breakout in 2021. For the first time in two years, the token hit a $2.80 price point on 30 January. This came after a wave of tokens were listed on its platform. In January alone, Voyager offered trading support for Enjin, Elrond, Golem, Terra Luna, Kyber Network and others.

VGX continued rallying and hit a peak of $6.90 on 20 February 2021, a day after the Uniswap token was listed on the platform. The Voyager Token managed to stay above the $5 mark for the rest of the month.

It peaked again on 1 March 2021 at $6.97 after new interest rates were announced for the brokerage. Dogecoin, Decentraland and Uniswap were all cryptocurrencies included in that month’s interest event.

After settling for the rest of March, VGX saw another price surge a month later on 14 April. This came after the announcement that Voyager was a finalist for the US FinTech Awards. It saw the token pass the $5 mark.  

The token came close to $5 again on 1 May 2021, when the platform revealed a loyalty programme for VGX holders. Investors could be eligible for a range of rewards, depending on the amount of Voyager Tokens they were holding.

VGX could not keep up the momentum and dropped below $2 in July. However, August proved to be an exciting month for the brokerage. It acquired the cryptocurrency payment provider Coinify on 4 August 2021, and incorporated the new Ethereum hard fork. The following day, the Voyager platform won a Benzinga award for the best crypto trading software.

On 20 August 2021, a new update was rolled out for the brokerage’s token. VGX 2.0 was intended to drive more traffic to the platform through greater rewards and incentivisation. All of Voyager’s August news culminated with it hitting a peak of $4.67 on the day of the new token roll-out.

VGX had to wait a while before its next peak, which occurred towards the end of the year. On 16 November 2021, Voyager announced it was releasing its own debit card, with an early access version available to consumers. This new card allowed users to spend at locations wherever Mastercard was accepted and earn crypto interest. VGX passed the $5 mark again just six days later.

However, it has been unable to come anywhere close to that level since then. It dropped below $3 by the end of December and under $2 in January 2022. More bad news was to come, and on 30 March 2022 Voyager was ordered by the state of New Jersey to “cease and desist” in a series of complaints against cryptocurrency-based, interest-bearing account issuers in the US.

The sharp descent continued on 12 May 2022, when coin traded at lows of $0.5895. More optimistic news was to come a few days later when Voyager Digital (VOYG) raised $60m in a private placement offering led by Alameda Research. Voyager Digital also released its revenue and user metrics for the quarter ended 31 March 2022, reporting revenue up 70% for the quarter, from $60.4m to $102.7m.

However, the crypto crashes have taken their toll on both the VGX token and firms involved in the Voyager platform. Voyager announced on 27 June that it had issued a default notice to Three Arrows Capital (3AC) for failing to make the required payments associated with the hedge fund’s loans. 

The Voyager loan taken out by 3AC includes 15,250 BTC and $350 million in USDC. A press release said: “Voyager intends to pursue recovery from 3AC and is in discussions with the company’s advisors as to legal remedies available.” 

At the time of writing on 3 August, VGX is trading at $0.3524.

VGX price prediction

Some forecasts expect the brokerage token to eventually reach a new all-time high.

Gov.Capital’s Voyager Token price prediction for 2022 is for it to pass $1 by September, and hit the $1.50 mark in December. In one year’s time, the site forecasts the token will be trading at $5.40. In the next five years, it expects VGX to soar far beyond its all-time high and hit $35.29.

WalletInvestor makes a VGX price prediction which says it is a “bad” long-term investment. The site forecasts VGX to plummet to less than $0.04 next year.

PricePrediction.net is more ambitious. It expects VGX to climb to a maximum of $1.06 this year. The site’s Voyager Token price prediction for 2025 is $2.77. The site then expects a general year-on-year uptrend, reaching $17.10 in 17.10.

Meanwhile, DigitalCoinPrice does not think the token will climb past $10 in the next decade. It thinks VGX will average out at $0.47 this year. The site’s VGX price prediction estimates the token to hit $0.69 in 2025, and it makes a Voyager Token price prediction for 2030 of $1.61.

FAQs

There are nearly 278.5 billion VGX in circulation, and a maximum supply of 279.4 billion VGX, according to CoinMarketCap.

It might be. Voyager Token’s loyalty programme offers rewards to its holders depending on the amount of VGX they own. These include staking, earnings and refer-a-friend rewards.

However, the VGX price crashed after 3AC was revealed to be defaulting on its loan. Investors should always do their own research before putting money into cryptocurrencies.

It could do. Some price predictions expect VGX to rise above its current price. DigitalCoinPrice thinks it will reach roughly $1.61 by the end of the decade, while Gov.Capital expects it to reach more than $35 in five years’ time.

Remember, cryptocurrencies are highly volatile, so you should never invest more than you can afford to lose.

It depends. After two years of dormancy, Voyager Token proved last year that it was capable of more breakouts, but VGX has recently been struck with a bearish trend and has stooped consistently below $0.50, and is now trading at $0.3524.

Before investing, you should always carry out your own research.

Further reading

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