Prior to now 24 hours, Voyager has reportedly offered $56 million price of property, together with over 27,000 ETH, $6.3 million price of VGX, $4.4 million price of SHIB and $1 million price of LINK. On the similar time, Voyager acquired 33.7M USDC from Wintermute Buying and selling, Binance US and Coinbase. This promoting spree comes as Voyager at present holds $757.8 million price of property, with the bulk in USDC, ETH, VGX and SHIB.
Whereas the promoting of 400 billion SHIB might not considerably impression the token’s value, the opportunity of 4 trillion SHIB being steadily offered in the marketplace sooner or later will enhance stress on the meme asset and worsen its place in the marketplace.
Voyager’s latest actions are probably attributable to a mix of things, together with the necessity for liquidity, market situations and the potential dangers related to holding onto unstable property like SHIB. The sale of property may be an try to attenuate potential losses in case of a market downturn.
Regardless of the promoting spree, Voyager stays a big participant on the cryptocurrency market, holding practically $760 million price of property. Nevertheless, it’s price noting that the sale of such a big quantity of property might doubtlessly have an effect on market sentiment, notably for SHIB and different tokens which have skilled important volatility in latest months.
The market continues to be recovering from the consequences of the latest liquidity disaster that has plagued the crypto market, which could have contributed to the choice by Voyager to promote its property. Nonetheless, it stays to be seen whether or not this promoting spree can have an enduring impression on Voyager’s place on the market and the efficiency of the tokens that it has offered.