Voyager’s token transfer to Coinbase sparks sell-off suspicions

Bankrupt cryptocurrency lending institution Voyager Digital transferred 1,500 Ether (ETH), worth around $2.77 million and an extra 250 billion Shiba Inu (SHIB), worth approximately $2.7 million, to crypto exchange Coinbase on Aug. 11, according to Etherscan.The intention behind the deals has actually triggered speculation within the broader crypto community. One theory suggests a possible sell-off, offered that the transfers have actually decreased the distressed crypto lenders wallet holdings to $81.63 million of digital assets.The transactions happened at one-hour periods, according to Etherscan. In February, the business carried out transfers of nearly $10 million worth of digital assets to numerous cryptocurrency exchanges in a single day.The tokens moved consist of 270 billion SHIB, worth $3.2 million; 4.9 million Voyager Token (VGX), worth $2.1 million; 3,050 ETH, worth $3 million; and 221,000 Chainlink (LINK), worth $1.5 million.Related: Voyager consumers targeted by scammers throughout 30-day withdrawal period: ReportFollowing Binance.USs court-sanctioned acquisition of the lenders assets, blockchain analysis platform Lookonchain divulged that Voyager liquidated digital holdings going beyond $56 million across 3 cryptocurrency exchanges.