250 Billion Shiba Inu (SHIB) and 2,500 Ethereum (ETH) Flow Into Coinbase: Details

The top blockchain analytics and cryptocurrency whale tracking platform PeckShield spotted these heavy transfers of the second-largest decentralized meme token, Shiba Inu (SHIB), and Ether (ETH) by a single sender in the early hours of today.

Per the PeckShield Twitter alert, a whopping 250,000,000,000 Shiba Inu (SHIB) tokens alongside 2,500 Ethereum native tokens, Ether was sent to the largest United States-based crypto exchange, Coinbase, by the sender. 

At the time of the transactions, the 250 billion Shiba Inu tokens were worth $3,362,500 while the value of the overall ETH moved was valued at $4.2 million. The update equally showed the movement of 249,614.05 OCEAN tokens to Coinbase by the same sender, which was worth about $117,141 at the time of execution. 

These assets were moved by the once-thriving crypto lender Voyager Digital which went bankrupt around July 2022, after the hedge fund Three Arrows Capital (3AC) saw a meltdown. On the whole, Voyager moved a total of $117,148.6 within the last 24 hours.

Recently, the defunct crypto lending platform has been spotted moving several of its assets to many top exchanges including Binance and Coinbase.

It is speculated that Voyager could be dumping these assets to clear off its huge debts. It is also possible that the probable offloading of these hefty amounts of SHIB could negatively impact the short-term price action of the meme token and ETH. 

Read Also: 270 Billion SHIB Moved By Voyager To Top Crypto Exchanges. Here’s the Likely Impact on SHIB Price

Voyager Digital, which is currently undergoing its bankruptcy process, sold part of its assets to the CZ-owned crypto exchange, Binance US after the court approved the deal in early January.

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