Bankrupt crypto lender Voyager Digital moved 270 billion Shiba Inu (SHIB) tokens to top US crypto exchange Coinbase in a 12-hour period this week, according to the blockchain security firm Peckshield. Those 270 billion SHIB tokens were worth about $3 million at time of transfer. Voyager also moved $19 million worth of Ethereum (ETH) and […]
The post 270,000,000,000 Shiba Inu (SHIB) Abruptly Sent to Coinbase by Embattled Crypto Lender: On-Chain Data appeared first on The Daily Hodl.
New data reveals that bankrupt crypto lender Voyager Digital just moved hundreds of billions of meme token Shiba Inu (SHIB) from Coinbase. According to the blockchain-tracking platform Lookonchain, Voyager’s most recent sell off includes the liquidation of 400 billion SHIB worth about $4.4 million. In addition to the large SHIB transaction, Voyager also unloaded 27,255 […]
The post Voyager Liquidates 400,000,000,000 Shiba Inu on Coinbase As the Embattled Lender’s Selling Spree Gathers Steam appeared first on The Daily Hodl.
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust. The following is a look at […]
A handful of under-the-radar altcoins are posting massive weekly gains and outperforming the rest of the crypto markets. One of the strongest performer in the digital asset space this week is LUNA, the native asset of the Terra hard fork designed to rescue the blockchain’s ecosystem after its original version imploded earlier this year. LUNA […]
The post Four Altcoins Flying Under the Radar Shoot Up 82% or More in Just Seven Days As Crypto Markets Bounce appeared first on The Daily Hodl.
The native token of embattled crypto broker Voyager Digital (VGX) is surging as rumors of a potential takeover continue to circulate. According to a recent company presentation, numerous firms, including AlamedaFTX, the digital assets hedge fund of crypto billionaire Sam Bankman-Fried, have shown interest in purchasing Voyager’s assets. News of a potential buyout caused VGX […]
The post Bankrupt Crypto Broker Voyager’s Native Token VGX Skyrockets by Over 125% in 24 Hours Amid Takeover Rumors appeared first on The Daily Hodl.
An embattled crypto brokerage firm is under fire for seeking to pay out nearly $2 million as part of an employee retention package. According to a new filing in a New York bankruptcy court, lawyers speaking on behalf of a group of unsecured creditors are disputing Voyager Digital’s proposed Key Employee Retention Plan (KERP). “At […]
The post Creditors of Bankrupt Voyager Digital Oppose Company Giving Out Bonuses to Employees appeared first on The Daily Hodl.
Four low-cap altcoins are surging, more than tripling in value over the past week as the digital asset markets abruptly come to life. One of this week’s biggest gainers is the native asset of RSK Infrastructure Framework (RIF), a collaborative marketplace designed to offer a suite of blockchain-based solutions such as storage, domaining and payments. […]
The post Four Under-the-Radar Altcoins Skyrocket 233% or More in Just Seven Days As Crypto Shows Signs of Life appeared first on The Daily Hodl.
Unknown crypto venture firm MetaFormLabs has initiated a campaign to pump Voyager Token (VGX) as part of a proposed Voyager rescue package.
The native token for the embattled crypto brokerage Voyager Digital has skyrocketed in what seems to be a new effort to inflate its price seemingly inspired by the recent "CEL short squeeze."
On July 13, Voyager’s VGX token surged 178% to hit an intraday high of $0.891 before falling back to around $0.559, according to CoinGecko. It had regained ground back u to $0.717 at the time of publication.
The price rise has coincided with the appearance of a Twitter hashtag called #PumpVGXJuly18, as well as the formation of a Telegram group called the “Voyager Community Recovery Channel,” which had more than 2,100 members at the time of writing.
The token has gained more than 400% since the beginning of the week as speculators appear to be jumping aboard the latest quick buck bandwagon.
This week’s VGX pump is a reversal of a steady downtrend for the crypto token this year, losing almost 80% since the beginning of 2022. It is also down 94.3% since its January 2018 all-time high of $12.47.
On July 6, Voyager Digital announced its restructuring plan, which would include issuing Voyager tokens to customers that had suffered losses following its suspension of trading earlier in the month. The same day, the company filed for Chapter 11 bankruptcy in New York, citing liquidity issues arising from Three Arrows Capital’s (3AC) outstanding debts.
The latest twist in the saga came when a federal judge in New York froze the remaining assets of 3AC on July 12. Another part of the restructuring plan includes any recovery of assets from 3AC, which could also partly explain the increase in the perceived value of the VGX tokens.
Unknown crypto venture firm MetaFormLabs, which initiated the move on Twitter to pump VGX on July 9, has pledged to rescue Voyager through this means. On July 13, the firm detailed its token price target, and the amounts pledged for the rescue package.
“We have set a new target range of 5USD-8USD. Currently, we have 50,000,000USD internally and 67,000,000USD pledged by well-known crypto enthusiasts.”
By July 14, it claimed to have $135 million in funds for the rescue package, which will be announced in full on July 18, coinciding with its token pump peak plans.
1 thing is clear.
— MetaFormLabs | #PumpVGXJuly18 (@MetaFormLabs) July 13, 2022
Don't say we didn't give you any pre warnings of our intentions.#PumpVGXJuly18
July 18 2022 @ 2PM PST
We will stop sharing exact amounts we have pledged.
Current total ready for July 18: 135,000,00USD+
Whoever shorts will probably get swallowed whole.
NFA
Following the initial pump, which began on July 13 as prices lifted off from $0.15, MetaFormLabs asserted that this was nothing to do with them.
“Where there's green there's vultures that prey for low entries. #PumpVGXJuly18 will go ahead as planned on July 18 @ 2pm PST. Today's movement wasn't us, we've not even begun yet.”
The pump scheme has been met with a healthy dose of skepticism from the crypto community on Twitter.
Regarding #VGX and the "Pump $VGX" going around...
— shingolavine.eth (@shingolavine) July 13, 2022
Know what you are getting into. A lot of supply is locked up on Voyager which can skew pricing. $VGX optimism can potentially help Voyager make customers whole, but know the risk you are taking.
There was no mention of any bailout plans on Voyager’s official Twitter feed.
Related: Investors lament potentially lost ‘millions’ on Voyager bankruptcy
Cointelegraph reached out to MetaFormLabs for further details in response to their call to do so but had not heard back by the time this article was published.
Meanwhile, VGX was already dumping and had lost 21% from its initial pump yesterday. A similar pump and dump occurred with the newly launched Terra LUNA tokens, which surged above $10 a couple of days after they went live in late May, only to dump to around $2 a week later.
The native token of a popular cryptocurrency app is rallying despite several turbulent weeks involving lawsuits and even suspending trading on its platform. In recent weeks, Voyager Digital has issued a notice of default to crypto hedge fund Three Arrows Capital (3AC) as well as filed for Chapter 11 bankruptcy protection, but over the past […]
The post Voyager Token (VGX) Skyrockets 586% After Court Orders Seizure of Three Arrows Capital Assets appeared first on The Daily Hodl.
Where Bitcoin leads, altcoins usually follow — but the smartest crypto traders manage to turn BTC dips into buying opportunities.
We’ve argued many times in the past that the correlation between Bitcoin’s price and the market capitalization of hundreds of altcoins makes very little sense.
Whether you buy into the idea that Bitcoin is digital gold, or a payment mechanism, or both, it doesn’t have a whole lot in common with Ethereum, Shiba Inu, or FTX’s native exchange token.
Well, whether we like it or not, big moves in the price of Bitcoin define crypto markets.
Before Bitcoin slid from the latest all-time high above $68,000 back to the region of $55,000 last week, dragging most altcoins down with it, the crypto market had seen six straight weeks of virtually uninterrupted growth.
But as soon as the market turns red, as it did last week, many traders tend to succumb to three old enemies: Fear, uncertainty, and doubt (FUD).
Which is why we say: FUD that. Experienced crypto traders know that periods of correction can also present profit opportunities. And Cointelegraph Markets Pro’s own VORTECS™ Score found six of the ten best-performing altcoins last week, even as the market took a dive.
The VORTECS™ Score is a machine learning-powered trading algorithm that compares historic and current market conditions in digital asset markets to aid crypto traders’ decision-making.
The model takes in a host of quantitative indicators — including price movement, social sentiment, and trading activity — to arrive at a score that assesses whether the present conditions are historically bullish, neutral, or bearish for over 200 cryptocurrencies.
A VORTECS™ Score of 80 or above is considered confidently bullish for the next 12-72 hours. Assets that achieve such scores exhibit arrangements of key trading and social variables that in the past came before significant price increases.
The table below shows ten altcoins that delivered significant return on investment between Nov. 11 and 18 — the week that saw Bitcoin plunge from $68,000 to $58,000.
In bold are those tokens that hit a VORTECS™ Score of 80 or higher before reaching their peak price of the week.
Six out of ten of the week’s top performing assets exhibited patterns of trading and social behavior that closely resembled historically bullish combinations before they rallied.
Six out of ten is significant, given that the overall number of tokens that yielded any gains has been very modest.
What does it say about the nature of the crypto market? When things are bullish, altcoins can rally for an infinite number of reasons, oftentimes simply due to a favorable macro context and exuberance taking over the market.
But when much of the market is going south, analysis suggests that tokens supported by robust trading activity and high social sentiment are most likely to buck the trend.
These are also the times when traders need reliable data analytics to inform their strategies the most. When the floor is lava, it helps to have an extra pair of algorithmic eyes sifting through millions of data points to identify potential safe havens.
This is exactly what the VORTECS™ Score is trained to do.
Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.
