The Voyager crypto lending platform has been through a tough time over the last year or so. It declared bankruptcy and nearly sold its assets to the Binance crypto exchange – only for Binance to pull out at the last minute in April, leaving Voyager facing liquidation.
But what is Voyager (VGX)? How does Voyager work? Let’s take a look and see what we can find out, and also examine some of the Voyager price predictions that were being made on 21 June 2023.
Voyager was founded in 2018, by entrepreneurs Stephen Ehrlich, Philip Eytan, Gaspard de Dreuzy and Oscar Salazar, the founders of Crypto Trading Technologies.
The idea was to create a crypto exchange that was more like a traditional broker, with it offering people who held money in the platform annual interest of up to 12%.
The system was initially very successful, and shares were traded on the Toronto Stock Exchange starting in September 2021.
Less than a year later, though, on 1 July 2022, Voyager stopped customer trading, deposits, withdrawals and loyalty rewards after the Three Arrows Capital crypto hedge fund defaulted on a loan worth more than $670 million.
By 6 July 2022, Voyager had filed for bankruptcy.
Voyager’s native VGX token was designed to help support the system, being used to pay interest on the Voyager mobile phone app.
Voyager was designed to connect people to various crypto exchanges and utilized something called “smart order-routing technology” to link people with the exchanges. Until it declared bankruptcy, it was also able to issue loans.
VGX was utilized to support the network itself. Although it could not be staked, it was used to pay out rewards and interest for people who held their crypto in Voyager.
One thing to point out is that, because Voyager is based on the Ethereum (ETH) blockchain, it is a token, rather than a coin, you might see references to such things as a Voyager coin price prediction, but these are wrong.
Let’s now take a look at some of the Voyager price history . While past performance should never be taken as an indicator of future results, knowing what the crypto has done in the past can help us when it comes to either making or interpreting a Voyager price prediction.
VGX first hit the open market in the summer of 2017 when it was worth about $0.06. It grew steadily until the cryptobubble of late 2017 and early 2018, when it shot up to what still serves as an all-time high of $12.54 on 5 January 2018.
After that, it sank down in the midst of the so-called crypto winter, and it did not really get going until the market exploded in early 2021.
Voyager broke past $1 for the first time in more than two years on its way to a periodic high of $6.97 on 1 March.
The price of VGX shrunk after this as the crypto market cooled off over the summer, but it reemerged in the autumn, rising above $5 in November before closing the year at $2.97.
In 2022, Voyager, along with the rest of the market, suffered as the world of crypto experienced a series of crashes.
VGX dropped below the dollar in April and it fell to around $0.15 in the middle of July. There was some recovery after this and briefly operated above $1 in September, but the collapse of the FTX exchange in November saw it slow back down to close the year at $0.2982, an annual loss of nearly 90%.
So far, 2023 has not been a great year for Voyager, either. Although it spiked to hit $0.7817 on 30 January it has been downhill ever since then and, on 21 June 2023, it was worth $0.1125.
At that time, there were 278,482,214 VGX in circulation, representing the total supply. This gave the token a market cap of $32.1 million, making it the 420th largest crypto by that metric.
Voyager has been hit hard by the fallout of the SEC’s legal action. On 5 June 2023, before the first lawsuit was announced, it was worth $0.1571 but the following day it sank 20% to a low of $0.1251.
Worse was to come on 10 June, when the news that Crypto.com had suspended its US institutional arm dropped VGX to $0.0932, 40% down in just five days.
Although the token has recovered since then, its current price is nearly 30% of what it was a little over two weeks ago.
With that out of the way, let’s take a look at some of the Voyager price predictions that were being made as of 21 June 2023.
Remember that price predictions, especially for something as potentially volatile as crypto, have a tendency to be wrong.
It is also worth noting that long-term crypto price predictions are often made using an algorithm, which means they can change at any time.
Firstly, CoinCodex made a short-term Voyager price prediction that said it would rise slightly to $0.1128 by 26 June.
After that, the price would continue to climb, hitting $0.1474 by 22 June. Perhaps surprisingly, the site’s technical analysis was bearish, with 19 indicators sending downbeat signals compared to 10 making bullish ones.
In terms of other Voyager price predictions for 2023, DigitalCoinPrice said the token would be worth $0.23. Bitnation and PricePrediction.net were both a bit more cautious in their optimism, suggesting it would trade at $0.17 and $0.14 respectively.
When it came to a Voyager price prediction for 2025, Bitnation argued that it would trade at $0.39, ahead of PricePrediction.net, which said it would be worth $0.30 that year. Again, DigitalCoinPrice was ahead of the pack, saying that VGX would stand at $0.37 in two years time.
As far as a long-term Voyager price prediction for 2030 was concerned, it was PricePrediction.net that was the most optimistic.
The site said that it could reach $2.10 that year, with DigitalCoinPrice saying that it would hit $1.16 and Bitnation saying it would trade at $0.96 at the start of the next decade.
It is hard to say. With Voyager filing for bankruptcy nearly a year ago, a proposed buyout by Binance collapsing and the platform facing liquidation, things do not, at least at first glance, look too good.
On the other hand, cryptocurrencies can be surprisingly resilient, so there is always the possibility that it could make a comeback.
Either way, you will need to do your own research before deciding whether or not to invest in Voyager.
No one can really tell right now. While the forecasts are, on the whole, positive, remember that crypto price predictions have a well-earned reputation for being wrong.
You should also understand that prices can, and do, go down as well as up. Keep in mind, too, that the future of the Voyager platform itself is far from certain.
Before you decide whether or not to invest in Voyager, you will have to do your own research, not only on VGX, but on other, similar coins and tokens.
Remember, too, that it is vital you never invest more money than you can afford to lose.
On 21 June 2023, there were 278,482,214 VGX in circulation, representing the total supply.
It has done before, but if it does happen again, it won’t be for a little while. PricePrediction.net said it could break through the dollar in 2028, while DigitalCoinPrice said it would happen in 2030 and Bitnation said it would get there the following year.
VGX is used to support the Voyager crypto brokerage, which filed for bankruptcy in July last year.
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.