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Something weird is going on once again in crypto. Voyager price shot up 16% after 20% of the total supply of Voyager's token, worth $7.3 Million was sent to a burn address. The wallet allegedly belongs to Voyager though unconfirmed. Regardless, it looks like someone messed up BIG TIME
Voyager's price is went up 16% a few hours ago before cooling off. The cause? Around 20% of the total supply at the time or 52 Million tokens was sent to a burn address. That amounted to $7.3 Million at that time. The wallet is labelled as Voyager 1 and with that many tokens it's easy to imagine that the wallet holder was Voyager themselves. Voyager of course is in the midst of a bankruptcy and already
had announced plans to liquidate all their assets to recoup and repay losses.
​
\(\\"Null\\" Address is burn wallet\) https://preview.redd.it/1xbhc43l17yb1.png?width=1072&format=png&auto=webp&s=ca25c706181b84b3e36dd5c34df7ebc6807d0f11
Even if the wallet didn't belong to Voyager, there's no plausible reason to suddenly burn that many tokens. That's 7.3 Million gone. Maybe they had plans to create a new token so they have started burn old ones, but that's HIGHLY implausible for a company embroiled in bankruptcy with little credibility and crypto market liquidity drying up in general. Voyager creditors were already only set to be reimbursed **36%** of their lost assets so it looks pretty grim(for customers) if this is indeed from Voyager.
Whether Voyager did it or a random whale did, this looks someone made a very expensive mistake. Interestingly, it seems some outlets have reached out to Voyager for comment but there was no response. That's typically a bad sign.
#cryptocurrency
Voyager's price is went up 16% a few hours ago before cooling off. The cause? Around 20% of the total supply at the time or 52 Million tokens was sent to a burn address. That amounted to $7.3 Million at that time. The wallet is labelled as Voyager 1 and with that many tokens it's easy to imagine that the wallet holder was Voyager themselves. Voyager of course is in the midst of a bankruptcy and already
had announced plans to liquidate all their assets to recoup and repay losses.
​
\(\\"Null\\" Address is burn wallet\) https://preview.redd.it/1xbhc43l17yb1.png?width=1072&format=png&auto=webp&s=ca25c706181b84b3e36dd5c34df7ebc6807d0f11
Even if the wallet didn't belong to Voyager, there's no plausible reason to suddenly burn that many tokens. That's 7.3 Million gone. Maybe they had plans to create a new token so they have started burn old ones, but that's HIGHLY implausible for a company embroiled in bankruptcy with little credibility and crypto market liquidity drying up in general. Voyager creditors were already only set to be reimbursed **36%** of their lost assets so it looks pretty grim(for customers) if this is indeed from Voyager.
Whether Voyager did it or a random whale did, this looks someone made a very expensive mistake. Interestingly, it seems some outlets have reached out to Voyager for comment but there was no response. That's typically a bad sign.
#cryptocurrency
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