Voyager’s Massive Transfer of VGX and Token to Coinbase

03/01/2023 15:10 • Digital Disruptors • 84 views

It is reported that according to 0xScope monitoring data, Voyager has transferred 38.369 million VGX to Coinbase since February 15, accounting for about 14% of the total VGX supply. In addition, Voyager has transferred $200 million worth of Token to Coinbase, including 51000 Ethereum. At present, Voyager still holds assets worth 729 million dollars, including Ethereum worth 263 million dollars, SHIB worth 72.7 million dollars, VGX worth 59.1 million dollars and LINK worth 10.7 million dollars.

Data: Voyager has transferred 38.369 million VGX to Coinbase since February 15

Analysis based on this information:

Voyager, a crypto investment platform, has reportedly transferred a massive amount of VGX and Token to Coinbase. The 0xScope monitoring data revealed that since February 15, Voyager has transferred 38.369 million VGX to Coinbase, which accounts for approximately 14% of the total VGX supply. Moreover, it has also transferred $200 million worth of Token to Coinbase, which includes 51,000 Ethereum.

This move by Voyager could signify a few possibilities. One possibility is that it could be a strategic move to increase liquidity for VGX and Token. As Coinbase is one of the most popular cryptocurrency exchanges globally, Voyager may have wanted to tap into Coinbase’s customer base to enhance asset turnover. By doing so, Voyager can potentially increase token usability and utility – which would, in turn, benefit the value of the VGX and Token.

Another possible explanation could be that the transfer signals Voyager’s intent to reduce some of its risk exposure. By transferring a significant portion of assets to Coinbase, Voyager could be hedging against any unforeseen market downturns or potential regulatory restrictions that may arise. This would keep its investors and stakeholders’ interests secure and assure them of the platform’s stability in the mist of unforeseeable circumstances.

However, it is worth noting that Voyager still holds assets worth $729 million, including $263 million in Ethereum, $72.7 million in SHIB, $59.1 million in VGX, and $10.7 million in LINK. This means that the transfer may not necessarily be indicative of a full-blown risk off strategy – but rather, a more strategic approach to hedging risk.

In conclusion, Voyager’s significant transfer of VGX and Token to Coinbase is an interesting turn of events. While it is not immediately clear why Voyager made the transfer, it could signal a strategic move to increase liquidity, hedge against risk, or reduce exposure. Whatever the reason, it is exciting to see crypto platforms explore new opportunities and expand their reach, especially in such a dynamic industry.

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Voyager’s Massive Transfer of VGX and Token to Coinbase

Data: Voyager has transferred 38.369 million VGX to Coinbase since February 15

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