• Voyager Digital transfers large amounts of cryptocurrencies, including 300 trillion Shiba Inu (SHIB) worth $3.7 million to Coinbase.
• Blockchain intelligence firm PeckShield shared that a dormant address sent 68 trillion SHIB (~$820,000) to the address before the transfer.
• Voyager has sent assets to Coinbase almost every day since February 14, including 6.5 trillion SHIB ($81 million).
Voyager Transfers Cryptocurrencies to Coinbase
Cryptocurrency lender Voyager Digital has been transferring large amounts of cryptocurrencies to Coinbase in order to increase its liquidity. The transaction includes 300 trillion Shiba Inu (SHIB) worth $3.7 million, 4,000 ETH worth $6.6 million and 5 million VGX worth $2 million.
Dormant Address Sends 68 Trillion SHIB
Blockchain intelligence firm PeckShield revealed that a dormant 0x31FC address sent 68 trillion SHIB (~$820,000) shortly before the transfer was made by Voyager Digital. It is assumed that this address had received these 68 trillion SHIB two years ago at a price of $528 and had held them since then. Furthermore, the same address also received around $50 million USDC from Coinbase in the last few hours as reported by Bitcoinist.
Voyager’s Assets Sold Since February 14
PeckShield also confirmed that Voyager has been sending assets to Coinbase almost every day since February 14 which include 2.24 trillion SHIB ($28 million). Prior to today’s sale, the bankrupt crypto lender’s holdings still included 6.5 trillion SHIB roughly equivalent to $81 million USDT with Ethereum 172,223 ETH ($276 million) and 186 million USDC topping it off respectively
Price Predictions for Shiba Inu
Given these latest developments concerning cryptocurrency transfers done by Voyager Digital, analysts predict that the Shiba Inu price could continue face heavy selling pressure within the coming weeks due to such massive sell-off of their cryptocurrency assets..
The situation surrounding Voyager Digital’s cryptocurrency transfers remain uncertain but one thing is for certain – this could have drastic affects on prices if more cryptocurrencies are sold off in such a manner within the coming weeks or months ahead