One of the bankrupt crypto companies, Voyager’s sales to meet its debts may have an impact on these 7 altcoins. According to the data, Voyager’s sales and price drops match on a large scale.
The biggest whale of the market is selling these 7 altcoin projects
According to Ran Neuner, analyst at popular YouTube channel “Crypto Banter”, whales are currently abandoning Voyager-linked altcoins, putting additional supply pressure on the market. This may be why some altcoins are selling more than others. Neuner pointed out that the worst-performing altcoins at the moment belong to crypto firm Voyager, which owes its creditors $500 million.
The chart showing Voyager’s Ethereum (ETH) portfolio has been falling sharply over the past few days. They send 7 to 8 digit crypto daily to Winter Moon and Coinbase. The crypto analyst shared a screenshot of Voyager’s main portfolio, which includes altcoins such as Decentraland (MANA), Ripple (XRP), Apecoin (APE) and Uniswap (UNI).
Neuner noted that the sale put additional pressure on many other altcoins. He warned that the situation is much worse for top tokens such as Shiba Inu (SHIB) and Chainlink (LINK), where most of the sales volume takes place. However, it continues to put pressure on many other altcoins.
Voyager continues to sell despite Binance buyout deal
The bankrupt crypto company continues to aggressively deplete its crypto reserves to pay off its creditors. The situation has put a lot of pressure on the altcoin market as these reserves have been hit much harder than other altcoins. The analyst noted that Voyager-related altcoins, including ETH, SHIB, and LINK, have dropped significantly. Altcoins affected by Voyager sales:
- Decentraland (MANA)
- Ripple (XRP)
- Apecoin (APE)
- Uniswap (UNI)
- Ethereum (ETH)
- Shiba Inu (SHIB)
- Chainlink (LINK)
cryptocoin.com As you follow, Voyager used its Ethereums from its crypto reserves of 757.8 million dollars. The company later also liquidated some of the SHIBs.
Impact of sales on altcoin market
The impact of the sale is felt more by altcoins that do not have a lot of volume, do not have many buyers, and are not popular. Neuner stated that selling pressure is not important when there is sufficient demand in the market. But because sentiment is so low and buyers don’t want to buy aggressively, Voyager needs to sell its assets to pay off debt to its creditors.
The crypto analyst advised investors to be careful, especially when it comes to top tokens like Shiba and LINK. These altcoins are most affected, but other altcoins are also at risk. The Voyager sale is putting additional pressure on the already uncertain market. Investors need to be cautious and follow the market closely in order to make informed decisions.
