Voyager, one of the companies that went bankrupt in the crisis caused by Terra last year, continues to sell the Shiba Inu and these 3 altcoins, despite buying the assets of Binance.US.
Voyager also begins draining Shiba Inu reserves
Voyager, which we referred to as Kriptokoin.com, preferred to keep 5.17 trillion SHIB tokens, while converting Ethereums into cash. According to new data, Binance.US is giving up on this decision despite the positive developments in its purchase of its assets. Less than eight hours ago, the company used more than 400 billion SHIB, or $4.45 million, from one of its wallets.
In total, $38 million worth of cryptocurrencies were transferred by the company today from its two accounts to centralized exchanges. In addition to SHIB, Ethereum (ETH), Polygon (MATIC), and Phantom (FTM) were also subject to sale.
Voyager cashed out a total of 1,449 ETH on March 7 via Wintermute.The bankrupt company remains one of the largest SHIB whales. With the recent sales, another 4.4 trillion Shiba Inu remain on its balance sheet, representing 10 times the volume of tokens sold today.
Binance US-Voyager deal
As it became known a few hours before the next round of the sale, a court has approved an agreement for BinanceUS to purchase Voyager’s assets, despite opposition from the SEC and other regulators. It also allowed the transfer of clients of the bankrupt broker to the US branch of the crypto giant. The total amount of the deal is expected to be $1.3 billion.
Despite the green light, the deal between the companies is far from complete. It looks like Voyager’s sales will continue until the assets are transferred to Binance.US. This will lead to a selling pressure on the SHIB price throughout the process. Despite ecosystem tokens rallying with the upcoming Shibarium release date, SHIB remains stagnant.
Shiba Inu rally ecosystem with Shibarium news
Shiba Inu’s ecosystem token BoneShibaSwap (BONE) is arguably one of the biggest beneficiaries of the latest Shibarium news, with a 20% growth rate in the last 24 hours. BONE is currently trading at the spot price of $1.78.
As we have also reported as Kriptokoin.com, the beta announcement for the layer-2 solution Shibarium was made today. BONE will have a direct role to play in the Shibarium ecosystem as the designated primary token to power the protocol.
This development means that the usage of BONE will increase and the token will see increased purchases in the near future. BONE has had an active price history over the years and from year to year. It has grown by 92.64% since the start of the year, making it one of the best performing altcoins in the meme coin ecosystem.
A new beginning for the Shiba Inu ecosystem
The arrival of the Shibarium protocol represents the beginning of a new era for BONE and all other tokens in the Shiba Inu world. While BONE will play a leading role in its use for transaction fees and other services, SHIB will become more deflationary as some of it is burned in every transaction on the network.
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