Voyager Witnesses $250M Net Asset Outflow Post Withdrawal Restart
- Voyager experiences $250M net outflow since withdrawals reopened on June 23.
- Platform currently holds $176M worth of crypto assets, including 2,287.4 BTC, 27,363.7 ETH, and 18,558,340 USDC.
- Users may be seeking alternative platforms or custodial services, highlighting the competitive nature of the crypto market.
Voyager has experienced a significant net outflow of $250 million worth of crypto assets since reopening withdrawals to users on June 23.
As of now, the platform holds approximately $176 million worth of crypto assets, with a Clean Asset ratio (excluding VGX) of 96.15%. Notable assets on the platform include 2,287.4 BTC, 27,363.7 ETH, 18,558,340 USDC, 2,060 trillion SHIB, and more.
The reopening of withdrawals on Voyager was met with a surge in users seeking to move their crypto assets off the platform. The net outflow of $250 million reflects a significant movement of funds, indicating users’ preference for storing their assets elsewhere or potentially taking advantage of other trading platforms.
The current amount of $176 million worth of crypto assets on the Voyager platform signifies the assets still under their custody. While the net outflow is substantial, the platform continues to hold a considerable sum of cryptocurrencies.
The Clean Asset ratio, which stands at 96.15%, represents the proportion of assets excluding VGX, Voyager’s native token, and implies that the majority of the remaining assets on the platform are free from encumbrances or liabilities.
Among the notable cryptocurrencies held by Voyager are 2,287.4 BTC, 27,363.7 ETH, 18,558,340 USDC, and a significant quantity of the meme-based token SHIB.
The significant outflow of crypto assets from Voyager suggests that users may have sought alternative platforms or custodial services for their trading and investment needs. This trend highlights the competitive nature of the cryptocurrency market and the importance for platforms to consistently meet user expectations in terms of security, usability, and customer support.
As the cryptocurrency landscape continues to evolve, market participants are advised to conduct thorough research and due diligence when selecting trading platforms and custodial services. The security and trustworthiness of these platforms play a crucial role in safeguarding users’ assets and ensuring a seamless trading experience.
Voyager will likely focus on improving its offerings and implementing measures to retain and attract users amidst the dynamic and evolving crypto market. The platform’s ability to adapt to users’ demands and address any potential concerns will be essential in maintaining its competitiveness in the industry.
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