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400 Billion SHIB Tokens Sold by Voyager, Price Plummets Again: When Will This End?

Thu, 03/09/2023 - 09:39
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Arman Shirinyan
400 billion SHIB tokens are released by Voyager, price faces increased pressure
400 Billion SHIB Tokens Sold by Voyager, Price Plummets Again: When Will This End?
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In the past 24 hours, Voyager has reportedly sold $56 million worth of assets, including over 27,000 ETH, $6.3 million worth of VGX, $4.4 million worth of SHIB and $1 million worth of LINK. At the same time, Voyager received 33.7M USDC from Wintermute Trading, Binance US and Coinbase. This selling spree comes as Voyager currently holds $757.8 million worth of assets, with the majority in USDC, ETH, VGX and SHIB.

While the selling of 400 billion SHIB may not significantly impact the token's price, the possibility of four trillion SHIB being gradually sold on the market in the future will increase pressure on the meme asset and worsen its position on the market.

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Voyager's recent actions are likely due to a combination of factors, including the need for liquidity, market conditions and the potential risks associated with holding onto volatile assets like SHIB. The sale of assets may also be an attempt to minimize potential losses in case of a market downturn.

Despite the selling spree, Voyager remains a significant player on the cryptocurrency market, holding nearly $760 million worth of assets. However, it is worth noting that the sale of such a significant amount of assets could potentially affect market sentiment, particularly for SHIB and other tokens that have experienced significant volatility in recent months.

The market is still recovering from the effects of the recent liquidity crisis that has plagued the crypto market, which might have contributed to the decision by Voyager to sell its assets. Nevertheless, it remains to be seen whether this selling spree will have a lasting impact on Voyager's position on the market and the performance of the tokens that it has sold.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.