Voyager Transfers Cryptocurrencies Worth Over $28.7 Million

02/16/2023 02:36 • Crypto & Markets • 174 views

According to reports, PeckShield monitoring shows that Voyager has transferred cryptocurrencies worth about US $28.7 million to the cryptocurrency exchange, including 15000 ETHs (about US $25.3 million) to Binance.US (10000) and Coinbase (5000), and 250 billion SHIBs (about US $3.4 million) to Coinbase.

Voyager has transferred approximately $28.7 million of cryptocurrency to Binance.US and Coinbase

Interpretation of the news:

According to reports, Voyager, a cryptocurrency trading platform, has transferred a staggering amount of cryptocurrencies recently. The PeckShield, a blockchain security and data analytics company, has monitored the transfers, which amount to over $28.7 million in cryptocurrencies.

Of this amount, 15,000 Ethereum (ETH) tokens worth $25.3 million were transferred to two major cryptocurrency exchanges, Binance.US and Coinbase. Binance.US received 10,000 ETH tokens while Coinbase received 5,000 ETH tokens. This transfer is significant as ETH is one of the most valuable cryptocurrencies in the world, and the value of ETH had increased considerably in recent months. The transfer to these exchanges suggests that Voyager may have sold these tokens or is planning to do so soon.

In addition to ETH, Voyager also transferred 250 billion Shiba Inu (SHIB) tokens worth about $3.4 million to Coinbase. SHIB is a relatively new cryptocurrency that has recently gained a lot of popularity due to its meme token status. However, the transfer of such a large amount of SHIB tokens to Coinbase may indicate that Voyager wants to reduce its exposure to this cryptocurrency.

It is unclear why Voyager made these transfers, but it is speculated that they may have made the transfers as part of its strategy to manage its crypto portfolio. Voyager is known for its integrated cryptos and fiat gateway, making it an attractive trading platform for investors. However, given the volatile nature of cryptocurrencies, it is essential for traders to manage their portfolio effectively to mitigate risks and maximize profits.

In conclusion, Voyager’s transfer of cryptocurrencies worth over $28.7 million to Binance.US and Coinbase is a significant event in the crypto world. The transfer of 15,000 ETH tokens and 250 billion SHIB tokens suggests that Voyager may be repositioning its portfolio. The transfers may also indicate that Voyager is selling off assets that it considers overvalued or overexposed. Nonetheless, Voyager’s strategy to manage its crypto portfolio will be closely monitored by investors and traders who are interested in keeping track of its activities.

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Voyager Transfers Cryptocurrencies Worth Over $28.7 Million

Voyager has transferred approximately $28.7 million of cryptocurrency to Binance.US and Coinbase

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