Voyager Digital Price Prediction: What’s Next for VGX After a 470% Surge?

Key Insights:

• VGX has gained more than 400% since the start of the week.
• The meteoric rise comes after the token spent much of last week around the $0.17-$0.19 range.
• The Voyager coin is still 95% below its all-time high price of $12.54 set on January 5, 2018.

VGX, the native token of the troubled US-based crypto brokerage Voyager Digital, skyrocketed yesterday, jumping from $0.1641 on July 12 to $0.9476 on July 13 – a 477% leap.

The price then retreated to $0.572 before climbing back up again to $0.7136 today. The meteoric rise comes after the token spent much of last week around the $0.17-$0.19 range.

Once considered to be a crypto lending and trading powerhouse, Voyager Digital is a firm that offers brokerage services, while its ERC-20-compatible token, VGX is used to incentivise use of the centralised exchange by offering staking rewards and cashback on trades.

Price Action

VGX started its journey on July 21, 2017 at $0.06099. Throughout 2017, its price fluctuated between $0.06-$1.25 with its first breakout occurring in 2018. This is the year that the Voyager coin achieved its all-time high (ATH) price of $12.54 on January 5.

After briefly touching the $5 level in March 2018, the token later plummeted to $2 before climbing back up to $5.02 on May 10, 2018. By the end of 2018, VGX had dropped to lows of $0.12 and remained under $1 until January 30, 2021 when it reached $2.80.

 

The coin rallied further to $6.90 the following month with another high recorded on March 1, 2021 at $6.97. However, its price then consolidated and by late December 2021, it had fallen to lows of $3.

A further low of $0.5895 was recorded on May 12 this year despite the company raising $60 million in a private placement offering led by Alameda Research.

VGX is currently trading at $0.513025 and ranks 149th in the list of cryptocurrencies worldwide by market capitalisation at $145 million. Its price is up 4.80% in the last 24 hours.

Nonetheless, the token is still down 80% since the beginning of the year and 95% below its all-time high price of $12.54 set on January 5, 2018.

 

Technical Indicators