VGX is the native token of Voyager, a cryptocurrency dealer, and the asset is designed to generate staking rewards for its holders in addition to increase their yield earnings on different digital property. 

Over the past 30 days, the asset delivered much more worth because it has greater than doubled its worth towards the US greenback and gained 46% over the resurging Bitcoin (BTC).

What precipitated the coin’s worth to soar, and was there a solution to anticipate its rally early on?

Breaking information, acquainted market patterns

VGX’s August worth surge was an anticipated byproduct of bullish information popping out of the Voyager ecosystem all through August. On Aug. 2, Voyager Digital announced the acquisition of funds agency Coinify, a transfer geared toward increasing the platform’s infrastructure for cross-border transactions. On the time, VGX had been buying and selling at round $2.30.

Concurrently, Voyager rolled out a technological replace: its VGX portal for token swaps and staking. Fueled by this one-two punch, the worth of Voyager Token launched into a multi-leg rally that may final — barring transient intervals of correction — for nearly three weeks and culminated within the worth hitting a excessive of $6.56 on Aug. 19.

With such lengthy upward runs, one puzzle for merchants to resolve is whether or not every new worth recoil is the top of the feast or whether or not there’s nonetheless sufficient fodder for the hike to proceed. At this level, historic knowledge can come in useful.

Traditionally talking, VGX will not be new to lengthy, dramatic rallies. From early January to late February, the token rose from a number of cents to an all-time excessive above $7. This streak generated sufficient knowledge on worth motion, buying and selling exercise and social sentiment across the coin for the VORTECS™ Rating — a man-made intelligence-driven instrument obtainable to Cointelegraph Market’s Pro customers — to turn into proficient in assessing VGX’s market outlook.

Forward of the worth curve

VORTECS™ Score is an algorithm that compares historic and present market situations round crypto property to serve merchants actionable insights. The mannequin considers a number of indicators — together with market outlook, worth motion, social sentiment and buying and selling exercise — to generate a rating that assesses whether or not the current situations are traditionally bullish, impartial or bearish for a coin.

Throughout VGX’s August run, the indicator persistently lit up forward of every new leg of the coin’s lengthy rally, signaling that, judging from historic precedent, the market and social situations are ripe for an extra dramatic worth enhance.

VGX worth vs VORTECS™, Aug. 1-15. Supply: Cointelegraph Markets Pro

As seen within the chart, dark-green VORTECS™ Rating peaks, which correspond to scores above 80 and mark the mannequin’s excessive confidence in favorability of the noticed situations, confirmed up on Aug. four and Aug. eight forward of VGX’s upside phases.

VGX worth vs VORTECS™, Aug. 15-21. Supply: Cointelegraph Markets Pro

Extra not too long ago, On Aug. 16, the token’s VORTECS™ Rating went from inexperienced to darkish inexperienced (purple circle within the graph). The excessive rating endured whilst the worth briefly went down. It was not till 42 hours later that the favorable mixture of market and social exercise across the coin detected by the VORTECS™ algorithm materialized in a flash rally. VGX’s worth virtually doubled, exploding from $three.33 to $6.61 in simply 12 hours; nonetheless, it started to swing wildly shortly thereafter.

VGX is considered one of Cointelegraph Markets Professional’s prime property by the all-time variety of days when its VORTECS™ Rating hit 80. The coin recorded 43 high-scoring days, trailing solely AXS (52) and RUNE (72) because the platform launched in early 2021.

For 28 of those 43 days, the asset noticed not less than a three% appreciation inside 72 hours from hitting the benchmark rating; on 23 events, the beneficial properties had been 5% or extra. On 19 events, the worth of VGX rose by 10% or extra inside 72 hours after reaching the VORTECS™ Rating of 80. And on common, the asset delivered three.three% beneficial properties 24 hours after reaching the rating, four.three% after 48 hours, and 5% after 72 hours.

Whereas the VORTECS™ Rating will not be a crystal ball telling buyers when to go lengthy or brief, it might present an actionable indication of traditionally bullish or bearish situations for a specific coin — data that, as VGX’s instance reveals, can doubtlessly be profitably included right into a buying and selling technique.

Cointelegraph is a writer of economic data, not an funding adviser. We don’t present personalised or individualized funding recommendation. Cryptocurrencies are risky investments and carry vital threat together with the danger of everlasting and whole loss. Previous efficiency will not be indicative of future outcomes. Figures and charts are right on the time of writing or as in any other case specified. Stay-tested methods should not suggestions. Seek the advice of your monetary advisor earlier than making monetary selections.