Voyager digital, a cryptocurrency lender that recently filed for bankruptcy, has transferred a large amount of digital currency to Coinbase, a Nasdaq-listed exchange. The transfer included billions of Shiba Inu ($SHIB) tokens, which were received from a dormant SHIB whale. According to data from blockchain intelligence firm PekcShield, Voyager moved 300 trillion SHIB worth $3.7 million, 4,000 ETH worth $6.6 million, and 5 million VGX worth $2 million to Coinbase. A Voyager-labeled address received around $50 million from Coinbase shortly after.
#PeckShieldAlert Voyager has transferred 4k $ETH ($6.6M), 300B $SHIB ($3.7M) & 5M $VGX ($2M) to Coinbase
— PeckShieldAlert (@PeckShieldAlert) March 2, 2023
Before transferring out, Voyager received 68B $SHIB (~820k) from a dormant address 0x31FC. The address had received 68B $SHIB 2 years ago (~$528 at the time of transfer) pic.twitter.com/iV7vFrykxT
The movements suggest that Voyager has been cashing out the funds, which could result in significant selling pressure on the digital currencies involved.
It is worth noting that Voyager's transactions occurred after it received 68 billion SHIB, worth approximately $820,000, from a dormant whale that had received the meme-inspired cryptocurrency two years ago after paying $528 for the tokens at the time.
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