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Voyager’s Cryptocurrency Transactions: A Strategic Move Amidst the Market Volatility

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It is reported that according to the Twitter user\’s Bit ember monitoring, Voyager today transferred $12.78 million of cryptocurrency into Coinbase, including 4…

Voyagers Cryptocurrency Transactions: A Strategic Move Amidst the Market Volatility

It is reported that according to the Twitter user’s Bit ember monitoring, Voyager today transferred $12.78 million of cryptocurrency into Coinbase, including 4000 ETHs (about $6.42 million), 368 billion SHIBs (about $4.41 million) and 5 million VGX (about $1.95 million). Voyager also withdrew 50 million USDCs from Coinbase today.

Voyager today transferred US $12.78 million of cryptocurrency into Coinbase and proposed 50 million USDCs

Interpretation of the news:


The recent cryptocurrency market volatility has kept investors on their toes. Amidst the fluctuations, Voyager seems to have made a strategic move by transferring $12.78 million of cryptocurrency into Coinbase. The details of the transaction, revealed by the Twitter user Bit ember monitoring, showed that the transfer included 4000 ETHs, 368 billion SHIBs, and 5 million VGX. While the company also withdrew 50 million USDCs from Coinbase on the same day, it is unclear whether the transactions are directly correlated.

Voyager is a publicly traded company that provides retail and institutional investors access to cryptocurrency trading. The company has been expanding its offerings and services, including the acquisition of LGO, a European-based digital asset exchange. The recent transactions with Coinbase may be a part of its strategic expansion plans. Coinbase, on the other hand, is one of the largest cryptocurrency exchanges in the world, with over 68 million verified users and $223 billion in traded volume.

The transfer of cryptocurrency assets, particularly Ethereum and SHIB, indicate Voyager’s optimism towards these assets. ETH has been the second-largest cryptocurrency by market capitalization after Bitcoin. In 2021, its value appreciated more than twice, from $738 to $3,754. SHIB or SHIBA INU is a relatively new cryptocurrency that started as a meme and gained traction due to endorsements from celebrities like Elon Musk. Its value appreciation has been more volatile, with ups and downs of more than 100% in a single day.

The transactions suggest a potential shift in Voyager’s investment strategy, moving towards securing its position in promising cryptocurrencies, rather than spreading investments across various coins. The move may have been driven by the recent market scenario, where the value of several popular cryptocurrencies, including Bitcoin, has been on a downward trajectory. The company’s decision to withdraw USDCs may be related to the pursuit of active traders, who use stable coins to lock in profits during market volatility.

In conclusion, Voyager’s recent cryptocurrency transactions with Coinbase indicate the company’s strategic moves in response to market volatility. With the transfer of significant assets like ETH and SHIB, Voyager may be signalling its belief in these cryptocurrencies’ long-term value. The withdrawal of USDCs may indicate the company’s pursuit of active traders. As the cryptocurrency market remains unpredictable, it will be interesting to see how Voyager’s strategic moves will pan out in time.

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