Voyager Digital, a crypto lending firm facing bankruptcy, recently offloaded 1.4 trillion SHIB via Coinbase, in the middle of the Shiba Inu positive trend.
According to the report, Voyager Digital hastily sold these 1.4 trillion SHIB tokens in 4 days using Coinbase.
In its latest move, Voyager Digital has been swiftly unloading its crypto assets, including a significant number of Shiba Inu (SHIB) tokens, on Coinbase. This aggressive liquidation has significantly diminished the crypto reserves of the distressed firm.
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Earlier today, Lookonchain spotlighted the massive sales initiated by Voyager. According to their report, Voyager concluded 49 cryptocurrency transactions on Coinbase over a four-day span. This report also highlighted that Voyager has, in its tenure, amassed 845 million USDC from Coinbase, with an additional 85 million USDC transferred to Circle.
Voyager has been selling assets on #Coinbase for the past 4 days and has sold 49 tokens for ~$63M.
Including:
781 $BTC ($23M);
9,570 $ETH ($17.6M);
1.4T $SHIB ($14.4M);
234,660 $LINK ($1.74M);
1.87M $MATIC ($1.27M);
3M $MANA ($1.1M);
… pic.twitter.com/SUGjjQQvja— Lookonchain (@lookonchain) August 15, 2023
Apart from 1.4 trillion Shiba Inu tokens, Voyager’s also liquidated assets encompassed 781 BTC, 9,570 ETH, 234,660 LINK, 1.87M MATIC, and 3M MANA. Of the $63 million generated from these recent trades, BTC transactions represented $23 million, whereas ETH sales amounted to $17.6 million.
Voyager 300 Billion SHIB Moved to Coinbase
During its recent asset liquidation spree, Voyager sold 1.4 trillion SHIB on Coinbase within a mere 4 days, as cited by Lookonchain. This sale amounted to an estimated value of $14.4 million.
Etherscan data indicates that Voyager channeled 300 billion SHIB to Coinbase on August 14. To put this in perspective, just 2 days earlier, on August 12, the crypto lending firm had transferred 250 billion SHIB to the same exchange.
A revised data sheet from Lookonchain reveals that Voyager presently has no SHIB tokens in its possession.
Read Also: Top Analyst Spots Shiba Inu (SHIB) Bullish Reversal As Community Anticipates Shibarium Launch
The spate of Voyager’s SHIB transfers and their subsequent sales coincided with the cryptocurrency’s impressive double-digit appreciation in recent weeks. This shows that the sales whopping sales in 4 days did not impact SHIB negatively in terms of price. Current reports indicate a 13% increase in SHIB’s value over the last week.
Experts link this steady ascent to the eagerly awaited debut of the Shibarium mainnet, scheduled for later this month. Many in the fintech sector opine that should the layer-2 scaling solutions meet market anticipation, SHIB stands to realize even greater value.
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