Why bankrupt crypto lender Voyager sold Ethereum while sitting on 5.17 Trillion Shiba Inu holdings?

Bankrupt crypto lender Voyager recently shed its Ethereum holdings, while holding 5.17 Trillion Shiba Inu in its portfolio.
Voyager holds $57.78 million worth of SHIB in its portfolio, alongside Ethereum, Chainlink, Avalanche and others.
Experts believe Voyager is waiting for Shiba Inu price’s recovery before shedding its SHIB holdings.

Bankrupt crypto lender Voyager sold Ethereum holdings in exchange for stablecoins like USDC, while sitting on nearly $57.78 million worth of Shiba Inu holdings. Voyager’s portfolio consists of 5.17 Trillion Dogecoin-killer SHIB tokens.

Also read: What to expect from Shiba Inu after Shytoshi raises prize pool for monthly Shiba Eternity tournament?

Voyager shed its Ethereum holdings while sitting on 5.17 trillion SHIB

Voyager, a bankrupt crypto lender shed its Ethereum holdings in a recent transaction, exchanging ETH for stablecoins like USDC. According to a recent update from crypto intelligence tracker Lookonchain, Voyager sold 1,449 ETH tokens via Wintermute. The lender sold Ethereum at an average price of $1,553 and received 2.25 million USDC in exchange.

Voyager sells Ethereum

Voyager sheds Ethereum holdings in exchange of stablecoin

The crypto lender is still selling assets and currently holds 5.17 Trillion Shiba Inu tokens alongside Chainlink, Ethereum and Avalanche. Interestingly, despite holding nearly $57.78 million worth of meme coin, Shiba Inu tokens, Voyager chose to sell its Ethereum holdings.

Voyager is sitting on 148,774 Ethereum tokens worth $233.5 million. It remains to be seen whether the bankrupt crypto lender will shed the rest of its Ethereum holdings or the meme coin is next.

Shiba Inu price yielded nearly 14% losses for holders since February 27. It is a likely scenario that Voyager would line up to sell its SHIB holdings once the Dogecoin-killer meme coin recovers from its recent losses.

The Shiba Inu community is awaiting the launch of layer-2 scaling solution Shibarium. The launch of the scaling solution could act as a bullish catalyst, fueling the meme coin’s recovery.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram