June 3, 2023

Crypto Broker Voyager Sells its Ethereum Holdings in Exchange for Stablecoins

These are troubling times in the cryptocurrency market as much as in any other financial sector. There are some important shifts taking place within the cryptocurrency markets at present that may hold important implications for cryptocurrency investors and stakeholders. Recently, a Twitter tracker named Lookonchain has highlighted an important idea.

The tracker recently posted an update about the sales of Ethereum tokens this year. The transaction was made by a cryptocurrency broker named Voyager. The details of the transaction make it seem like the broker has dumped a massive amount of ETH valued at over $2 million.

Voyager also Sells Shiba Inu and LINK Tokens

Voyager has dumped a massive amount of its Ethereum holdings using the cryptocurrency exchange named Wintermute. However, the broker has chosen to exchange its VGX token holdings with 2.25 million USDC stablecoin. The latest crypto dumping of Voyager is not limited to ETH alone.

The crypto broker has also off-loaded a massive amount of Shiba Inu and Link tokens. According to the Twitter trackers, Voyager has proceeded to dump several other crypto holdings. As per the Lookonchain tracker update, Voyager has dumped $57 million worth of Shiba Inu tokens in addition to 1.44 LINK coins.

An SEC official has recently objected to the dealings between Binance US and Voyager. The issue can be seen as the main reason for the recent dealings of the crypto broker.

On this account, many Ethereum investors might be worried about the fall of ETH prices. However, their worries might be curbed by the data projections shared by Glassnode.

Glassnode has reported that the number of digital address in possession of more the one ETH have reached a monthly high. Therefore, it can be deduced that Ethereum investors at large have consolidated trust in the cryptocurrency.

Meanwhile, another crypto analytics firm Santiment projected that Ethereum’s top wallet supply also increased during February this year.

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