- Voyager’s chapter might have a powerful affect on ETH and SHIB within the coming days.
- The bankrupt crypto lender holds $151 million in ETH and $50 million in SHIB.
- Binance’s $1.3 billion bid to buy Voyager has been accepted.
Ethereum (ETH) and the remainder of the altcoin market appear to be on the mercy of the crypto lender, Voyager, on condition that the lender at the moment holds massive quantities of tokens which are able to be offered. A report lately launched by Arkham Intel famous that the defunct crypto lender has been on a promoting spree during the last six weeks.
Amongst Voyager’s wallets are $151 million price of ETH and $50 million price of Shiba Inu (SHIB). Each of those token holdings will possible be offered within the coming days, contemplating the lender’s 6-week historical past.
In accordance with the report, Voyager offered $100 million price of ETH this month, $25 million price of SHIB and $11 million price of the platform’s native token, VGX.
Voyager at the moment holds $750 million price of belongings, and USD Coin (USDC) makes up $488 million of the lender’s holdings. The remainder of Voyager’s holdings are damaged down as follows; $151.22 million price of ETH, $49.53 million in VGX, and $41.4 million in SHIB. All of those holdings are prone to being offered off.
The bankrupt lender appears to have begun its promoting exercise properly upfront of the US Chapter Choose Michael Wiles approving Binance’s $1.3 billion bid to buy Voyager. This restructuring take care of Binance will enable Voyager clients to withdraw their funds utilizing the Binance US trade.
At press time, ETH is down 8.28% and is buying and selling at $1,405.69, in keeping with CoinMarketCap. In the meantime, SHIB’s value stands at $0.000009996 following an 8.71% drop throughout the identical 24-hour interval. The lender’s native token, VGX, plummeted 26.87% during the last 24 hours and now trades at $0.3427.
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