A leading cryptocurrency analytics firm says a huge amount of Shiba Inu (SHIB) and Ethereum (ETH) is on its way to the US-based crypto exchange Coinbase.
According to PeckShield’s Twitter alert account, about $7.6 million in crypto assets, including 2,500 ETH worth $4.2 million and 250 billion SHIB worth $3.4 million, were sent to the exchange by the bankrupt crypto lender Voyager.
The team at PeckShield released an image that traces the path of the crypto – a move that happened in the last 16 hours.
A similar massive transfer of crypto from Voyager to Coinbase happened last week, to the tune of $28.7 million.
Voyager shut down customer withdrawals and deposits back in July of last year.
The firm pointed at the collapse of the crypto hedge fund Three Arrows Capital as the reason for its failure, saying it failed to pay back a loan worth hundreds of millions of dollars.
After filing for bankruptcy, the crypto exchange Binance stepped in and negotiated a deal to buy Voyager’s assets.
At time of publishing, Ethereum is trading at $1,707, down 3% in the last 24 hours. SHIB is trading at $0.00001360, down 0.5% in the last day.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Voger Design
Credit: Source link
