Voyager’s Token Transfer Sparks Sell-Off
On August 11, according to Etherscan, bankrupt cryptocurrency lender Voyager Digital transferred 1,500 Ether, worth approximately $2.77 million, and an additional 250 billion Shiba Inu SHIB, worth approximately $2.7 million.
The crypto community is speculating about a possible sell-off due to the sudden movements of tokens, which have reduced the distressed lender’s wallet holdings to $81.63 million. Etherscan reports that these transactions occurred at one-hour intervals, and some sources suggest Voyager consolidating tokens into a primary address. Voyager’s divestment of its SHIB holdings since 2023, including transfers of nearly $10 million worth of digital assets to multiple exchanges, further supports the speculation.
Along with 270 billion SHIB, which is worth $3.2 million, 4.9 million Voyager Tokens (VGX), which are worth $2.1 million, 3,050 ETH, which is worth $3 million, and 221,000 Chainlink, which is worth $1.5 million, the tokens that were moved.
(With inputs from Shikha Singh)
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