Suspected Whale Returns to Cryptocurrency Trading with Major Deposits

02/20/2023 07:12 • Tech Trends • 83 views

It is reported that the Web3 knowledge map protocol 0xscope tweeted that after six months of dormancy, the suspected Voyager address began to deposit a large amount of tokens into the exchange. Since February 1, 2023, these addresses have deposited $4430 worth of ETH, $17.5 million worth of SHIB, $2.83 million worth of VGX and $1.55 million worth of LINK to Coinbase, totaling $66.18 million. Voyager still holds approximately $321 million in cryptocurrency.

After the Voyager address has been dormant for 6 months, a total of 66.18 million dollars of tokens have been deposited with the exchange this month

Analysis based on this information:

The Web3 knowledge map protocol 0xscope recently reported that a suspected cryptocurrency whale has returned to active trading. For six months, the mysterious “Voyager” address remained dormant until it began depositing large amounts of tokens into the exchange.

Since February 1, 2023, the Voyager address has deposited a total of $66.18 million worth of different cryptocurrencies to Coinbase. Among these deposits, the largest included $17.5 million worth of SHIB, $2.83 million worth of VGX, $1.55 million worth of LINK, and $4430 worth of ETH.

It is important to note that Voyager still holds approximately $321 million worth of cryptocurrency, meaning that these recent deposits represent only a fraction of the total value held by the address.

The sudden return of the Voyager address and its significant deposits have raised eyebrows in the cryptocurrency market. Some analysts speculate that this whale may have insider information or access to large amounts of capital that it intends to leverage in the market. Others suggest that the deposits may simply be part of the whale’s usual trading activities.

Regardless of the reason behind the deposits, the return of the Voyager address will likely have implications for the cryptocurrency market as a whole. With its vast financial resources, this whale has the potential to move markets and influence the prices of different cryptocurrencies.

Overall, the activity of the suspected Voyager whale serves as a reminder of the unique challenges and opportunities presented by the cryptocurrency market. As decentralized and largely unregulated financial systems, this market attracts all types of players – from individual investors to large-scale whales like Voyager. Staying ahead of the trends and developments in this complex ecosystem requires vigilance and a deep understanding of the underlying technologies and economic forces at play.

In summary, Voyager’s return to cryptocurrency trading with major deposits is a significant development in the market that should be watched closely.

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