Voyager coming to Binance?
The deal between Binance and Voyager to purchase the latter’s assets, which was valued at over $1 billion, wasin a press release on 19 December. The cryptocurrency portfolio of Voyager, with a market worth of over $1.002 billion at the time of the transaction, will be acquired by Binance US, the U.S. division of Binance Global, with $20 million in added value.
The company listed more than 100,000 creditors in its bankruptcy filing. Creditors are one step closer to receiving some of their money back due to the Binance.US proposal.BNB appeared to respond favorably to the latest news as a rally was visible over a daily timeframe. The asset was worth roughly 3% more at the time of writing, trading at around $247. BNB had been rapidly declining before that point, but on 17 – 18 December, there was hardly any respite.
However, the asset had a broad bearish trend, as indicated by the Relative Strength Index. There was a bearish trend that was fairly strong, as the RSI line was noted to be below 40.The project and the crypto industry at large may benefit from Binance’s acquisition of Voyager. This opinion is supported by the fact that Voyager–a leading cryptocurrency lender until it–is merging with Binance to become its lending division. This might broaden both parties’ clientele and sources of income.
Additionally, if consumer trust in the business is restored, it will be possible to invest additional funds into the cryptocurrency market. The end outcome would positively impact the crypto space, not just an exchange asset like BNB.Subscribe to get it daily in your inbox.