Monat: Februar 2023

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Voyager is liquidating assets, including 2.2 trillion SHIB: report

  • Voyager reportedly received $100 million in USDC since 24 February.
  • Crypto assets sold include 2.24 trillion Shiba Inu and over 15,600 Ether.
  • Voyager filed for Chapter 11 bankruptcy in July 2022.

Voyager Digital, the crypto lender that filed for bankruptcy in July 2022 amid broader market contagion, has reportedly been selling some of its assets.

Per on-chain data shared by Lookonchain, the Voyager team has recently sold digital assets through US-based cryptocurrency exchange Coinbase. The company is said to have received roughly $100 million in the USD Coin (USDC) stablecoin for sales of tokens such as Shiba Inu, Ethereum and the native Voyager Token.

Voyager has sold over $100 million in multiple crypto assets

As reported by Lookonchain, Voyager started receiving the USDC on 24 February 2023, with the sales having begun on 14 February. 

The tokens sent to Coinbase include 2.24 trillion Shiba Inu (SHIB) worth $28 million, 15,635 Ether (ETH) worth $25 million and 640,000 Chainlink (LINK) worth over $4.74 million.

Voyager has reportedly also sold 28.5 million of its native token VGX for $12.85 million, 350,000 Uniswap (UNI) for $2.28 million and 3.26 million of Decentraland (MANA) worth $2.15 million. In total, Voyager sold tokens daily, with about 23 crypto assets sent to Coinbase exchange, the on-chain sleuth noted.

As of 25 February, Voyager held roughly $631 million in crypto, including over 172,000 ETH worth about $276 million, $186 million in USDC and over 6.5 trillion SHIB worth about $81 million.

The post Voyager is liquidating assets, including 2.2 trillion SHIB: report appeared first on CoinJournal.

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BTC and ETH hold onto support as VC exec maintains bullish prediction

  • Chris Burniske says Ethereum could outperform Bitcoin in March due to the Shanghai upgrade.
  • Burniske is a partner at crypto-focused VC Placeholder and formerly of ARK Invest (crypto division).
  • According to the investor, pullbacks are likely to remain “within current uptrend.”

Chris Burniske, partner at venture capital firm Placeholder and former head of crypto ARK Invest, is bullish on crypto going into March.

The investor believes the recent flip in sentiment has not resulted in deeper rot for major cryptocurrencies, despite the weakness seen across stocks amid investor anxiety over interest rates.

In a tweet posted this weekend, Burniske said the outlook is mostly bullish as recent pullbacks have been largely mild.

“From where I sit, I’m surprised crypto hasn’t pulled back more given weakness in equities and upward repricing in rates — bullish,” he noted.

Ex-ARK Invest head of crypto shares Ethereum and Bitcoin price predictions

Bitcoin and Ethereum have both retreated from year-to-date highs, from above $25k and $1.7k respectively. 

As noted above, the leading digital assets by market capitalization have given up the recent gains amid continued jitters over US inflation data. Buy-side volume has also tanked on shifting sentiment around the regulatory environment in the United States returned sell-off pressure across the markets.  

But while Bitcoin has retraced to support around $23,000 and Ethereum continues to hover around $1,600, the crypto bull says any further losses in the short term are likely to be “within the current uptrend.”

“To those saying some version of “just wait,” sure we could pull back a bit more, but calls for new lows anytime soon are silly. Pullbacks are consolidation within the current uptrend, imo,” the investor added.

In terms of price prediction for the top two coins, Burniske thinks Ethereum will outperform Bitcoin in March. According to him, ETH is likely to gain fresh momentum from the highly anticipated Shanghai upgrade, which is expected to drive staking flows. 

The outlook is supported by on-chain data, which shows new value sent to the ETH 2.0 deposit contract continues to rise. 

Crypto analytics firm Santiment recently shared a chart showing that the number of newly staked coins rose a 5-month high count earlier this week.

The post BTC and ETH hold onto support as VC exec maintains bullish prediction appeared first on CoinJournal.

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Litecoin price analysis: Can LTC ride the Metalpha partnership to break $100?

  • Litecoin price was hovering around $93.90 early Sunday, up 2% in 24 hours.
  • The Litecoin Foundation recently announced a major partnership with Metalpha Technology Holdings.
  • LTC price is just above the 50D EMA, and must hold above here if bulls have to take charge.

Litecoin price rose above $94 on Sunday as the cryptocurrency picked up some gains following the dump to lows of $91 on Friday.

While the gains are modest and LTC is still over 5% in the red on the weekly chart, the positive trend in the past 24 hours highlights the potential for bulls to successfully retest the key resistance zone above $96.

LTC price prediction after Litecoin Foundation and Metalpha partnership

To strengthen the short-term bullish outlook, bulls need to retest and break resistance at the middle line of the ascending channel (daily chart). That means moving to the price range between $97 and $100. The channel’s upper trendline offers resistance around $110. 

As predicted last week, LTC price could see a 40% jump if it breaks the $100-110 confluent zone, with potential gains to above $130.

Helping this positive short-term outlook could be the resilience in the broader crypto market as Bitcoin attempts to hold major support above $23k, with a retest of $25k possible.

More than that, it could be the bullish outlook from the likely institutional pull of Litecoin, particularly following this week’s partnership with Nasdaq-listed wealth manager Metalpha Technology  Holding Ltd (NASDAQ: MATH.)

The partnership could prove pivotal for Litecoin miners as well promote the adoption of LTC as a global payment network. This is because Litecoin will collaborate with the crypto-focused firm to promote sustainable mining and offer hedging solutions for miners. The plan is to lower carbon emissions amid a push for renewable energy.

Metalpha will also help bring financial derivative products to the Litecoin network, the Litecoin Foundation said in a press announcement.

Litecoin chart showing key price points. Source: TradingView

The bullish perspective might however be undone if LTC/USD moves lower and break support at $90.

As seen in the daily chart above, the 50-day exponential moving average (EMA) currently provides an immediate buffer zone.

If price penetrates this level on the downside, LTC could drop to the $80.38 line, below which the 200-day EMA is at $78.52. December 2022 lows around $63 is another key level that bears might be eyeing.

The post Litecoin price analysis: Can LTC ride the Metalpha partnership to break $100? appeared first on CoinJournal.