Mt Gox, which transferred 37,477 Bitcoin (BTC) to a different wallet in the morning hours, began to shake the market.
Bankrupt cryptocurrency exchange Mt. Gox transferred 37,477 Bitcoin worth 2.5 billion dollars at current prices to an unknown wallet address, according to data from the blockchain analysis platform Arkham Intelligence. Mt. Gox transferred 37,477 BTC to a new address in the early hours of July 24th.
Mt. Gox, how much more BTC will it distribute?
5.106 BTC was then sent to another cold wallet belonging to Mt. Gox. This move took place within 24 hours after the exchange transferred 2.8 billion dollars worth of BTC to various wallets on July 22, and $340 million of this amount was sent to four wallets associated with the cryptocurrency exchange Bitstamp.
Bitstamp is one of the five exchanges working to refund creditors along with the Mt. Gox trustee. As of the publication date, according to CryptoQuant's data, more than 40 percent of the Bitcoin owed to Mt. Gox creditors has been distributed. This means that 60 percent has not yet been returned to the creditors.
After a major security vulnerability in 2014 and the collapse of the exchange, approximately 127,000 Mt. Gox creditors, who have been waiting for over 10 years to get their money back, have a Bitcoin debt worth about $9 billion.
While some investors see it as a potential event of mass sell-off, analysts point out that the Mt. Gox mess is largely exaggerated. Galaxy Digital Research President Alex Thorne said that more than half of the Bitcoin to be repaid to creditors belongs to various funds and will not directly enter the spot market.
This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.
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Another transfer from Mt. Gox: Disturbed the balance of Bitcoin (BTC)!
Mt Gox, which transferred 37,477 Bitcoin (BTC) to a different wallet in the morning hours, began to shake the market.
Bankrupt cryptocurrency exchange Mt. Gox transferred 37,477 Bitcoin worth 2.5 billion dollars at current prices to an unknown wallet address, according to data from the blockchain analysis platform Arkham Intelligence. Mt. Gox transferred 37,477 BTC to a new address in the early hours of July 24th.
Mt. Gox, how much more BTC will it distribute?
5.106 BTC was then sent to another cold wallet belonging to Mt. Gox. This move took place within 24 hours after the exchange transferred 2.8 billion dollars worth of BTC to various wallets on July 22, and $340 million of this amount was sent to four wallets associated with the cryptocurrency exchange Bitstamp.
Bitstamp is one of the five exchanges working to refund creditors along with the Mt. Gox trustee. As of the publication date, according to CryptoQuant's data, more than 40 percent of the Bitcoin owed to Mt. Gox creditors has been distributed. This means that 60 percent has not yet been returned to the creditors.
After a major security vulnerability in 2014 and the collapse of the exchange, approximately 127,000 Mt. Gox creditors, who have been waiting for over 10 years to get their money back, have a Bitcoin debt worth about $9 billion.
While some investors see it as a potential event of mass sell-off, analysts point out that the Mt. Gox mess is largely exaggerated. Galaxy Digital Research President Alex Thorne said that more than half of the Bitcoin to be repaid to creditors belongs to various funds and will not directly enter the spot market.
This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.