Visualizing VGX Total Addresses and Balances by Last Movement

With the upcoming VGX token swap and merger with LGO, it was announced that tokens not swapped to the new token will be burned after one year (Token Economics). VGX was a rebrand of Ethos in 2019 which had an ICO in 2017. With all the changes in the last 3 years, let’s look at addresses with current balances and the last date tokens moved to see the potential for lost VGX tokens. The data also provides some good insights of moment of coins on exchanges over the last few years.

Visualizing the Data

Currently, VGX has 27,385+ addresses on Etherscan with over 196k transactions since June 2017. Downloading the transactional level detail and current account balances allows the parceling of the data. The first chart shows number of addresses and the current balance of these addresses trended by when coins last moved. The second chart shows the running total of these amounts. These charts visualize the max date of last coin movement (in or out) by the current balance for the address on Etherscan.

Last Movement Insights

You can see that 72% of addresses haven’t moved coins in over 2 years. These addresses are holding ~19M in tokens. It is likely that a larger % of these addresses and tokens are lost. There is an additional 7M coins that haven’t moved in over a year. This likely puts the amount of lost coins somewhere north of 20M+.

Tokens still on Exchanges

Keep in mind that a large % of tokens are still on Binance. These transfers happened when Ethos was purchased by Voyager Digital sending the price of VGX to all time lows. The growth of the voyager user base and increased VGX utility has taken more of these tokens off Binance starting in Q2 2020 forward.

Conclusion

We should see over 20M+ tokens burned a year after the new token swap based on last movement from current addresses. There continues to be decline of tokens on Binance after the the increase in 2019 after the Voyager and Ethos merger. The token swap will provide a clean up of historical coins, better utility, higher interest, and governance to enable Voyagers growing user base. An upcoming article after the Nov 30th earnings will lay out user growth and potential price targets.

Disclosure: I am a current VGX token holder. This is not financial advice. This article is a factual analysis of publicly available data and my perspective of the data. Do your own research or seek out the professional advice from a financial advisor.

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