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Shiba Inu: Bankrupt Crypto Lender Still Holds 5.1 Trillion SHIB Despite Selling

Sun, 03/05/2023 - 09:21
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Tomiwabold Olajide
Bankrupt crypto lender still holds significant amount of SHIB
Shiba Inu: Bankrupt Crypto Lender Still Holds 5.1 Trillion SHIB Despite Selling
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According to Lookonchain, bankrupt crypto broker Voyager continues selling its assets and has reportedly sold a significant chunk of its SHIB holdings.

Despite this, it still holds onto a significant amount — 5.17 trillion SHIB, to be exact. This represents an estimated value of $57.78 million.

The situation has raised questions about what this means for the value of SHIB. Some speculate that the lender may be waiting for a more favorable market before selling their remaining SHIB holdings, while others believe there may be other factors at play.

Shiba Inu: Dormant Address Sends Billions of SHIB Tokens to Bankrupt Crypto Broker Voyager

In two instances, 300 billion SHIB was moved by the bankrupt crypto broker to the Coinbase crypto exchange in the past week.

Lookonchain also reported 2.24 trillion SHIB worth $28 million transferred from Voyager to Coinbase from mid-February to the start of March.

Shibarium and SHIB burning

As expectations for the launch of the Shibarium beta remain, Shiba Inu (SHIB) lead developer Shytoshi Kusama teases the community with a cryptic tweet: "Confirming with the Ghosts a second time."

Joining projects that have indicated support for the Layer 2 solution, BunnyVerse Token Official has announced that it fully supports Shibarium and Shytoshi Kusama's vision for a decentralized future.

As regards SHIB burning, in the last seven days, a total of 176,920,466 SHIB tokens have been burned, while 11,212,649 SHIB were burned in the last 24 hours.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.