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Why Did Voyager Transfer 250 Billion Meme Coins?

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Bankrupt cryptocurrency lender Voyager has completed a massive transfer of meme coins. According to blockchain security startup PeckShield, Voyager transferred $7.6 million in crypto assets on Monday.

Coinbase Confirmed The Data

According to statistics, Voyager transferred 2,500 ETH and 250 billion Shiba Inu to Coinbase. During the transfer, both the price and trading volume of the popular meme coin SHIB increased. According to CoinMarketCap, the 24-hour trading volume for SHIB increased by 155 percent. As previously reported, Voyager sent 250 billion SHIB to Coinbase and 15,000 ETH to Binance US and Coinbase last week.

The Reason Is Not Exactly Known

The motivation behind Voyager’s multi-million crypto transfer is currently unknown. However, the crypto community has not ignored these large transactions. Some members of the community believe that Voyager is trying to take advantage of the recent market volatility to pay off its debtors.

Why Did Voyager Transfer 250 Billion Meme Coins?

Voyager’s collapse began in July when Three Arrows Capital was unable to pay hundreds of millions of dollars in debts and was forced to stop customer withdrawals and deposits. As a result, the company filed for bankruptcy.

While there are many different interpretations of this, the general consensus seems to be that there is a lot of uncertainty at the moment. In the medium to long term, there may be clearer figures in the near future, as we have seen many similar moves in the coin market. Nevertheless, the predictions are that the company will be operating on the coin exchange in the near future… 

Meme Coin Price Performance

SHIB is currently trading at $0.00001369 after reaching a session high of $0.00001399. Meme Coin gradually increased to $0.0000014 on the 19th of February after recovering from a low of $0.00001256 on the 16th of February.

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