Mt. Gox moves almost USD $10 billion in Bitcoin and prices slide – DiarioBitcoin
By Hannah Perez
The movement of more than 140,000 bitcoins from Mt. Gox wallets generated a bearish effect on the cryptocurrency market. Bitcoin fell from the height of USD $70,000.
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- Mt. Gox wallets moved more than 141,000 bitcoins to a single address
- The move was made without prior notice, but the trustee later issued a statement
- Mt. Gox manager said no Bitcoin or cash has been sold
- Bitcoin price slipped below USD $70,000 after the movements
The wallets of Mt. Goxthe missing exchange of Bitcointransferred this Tuesday nearly USD $10,000 million in Bitcoin in a move without prior notice that caused an impact on the market.
On-chain data signing Arkham Intelligence He detailed that 72 wallets belonging to Mt. Gox They sent just over 141,000 bitcoins (BTC) to a single addresspossibly in an effort to consolidate funds in one place.
Wallet activity shows the move was made in more than a dozen transactions, with a first possibly test transaction on May 20 worth $3. Another transaction of a few hundred dollars in BTC was made early Tuesday, followed by others ranging from $1.2 million to $2.2 billion in bitcoins.
Mt. Gox, Founded in 2010, it became the exchange of Bitcoin largest in the world, serving 70% of all global transactions, until it stopped withdrawals and suspended operations in 2014, leaving users without access to their funds. The exchange then said it had lost more than 800,000 bitcoins in a massive hack.
Users of the platform have been waiting for more than a decade to recover their holdings, which many have considered could lead to a bearish move in the market. After many delays in the process, the refund plan has begun to take place and the recent moves are possibly part of these efforts.
Mt. Gox send your bitcoins to a single address
After Tuesday’s unexpected transactions, the Trustee of Mt. Gox issued a statement to convey calm to creditors. “Recently, the Rehabilitation Trustee has received inquiries/deep concerns regarding the status of Bitcoin and Bitcoin Cash management“wrote administrator Nobuaki Kobayashi.
They added that, “for now“, the administrator in charge of rehabilitation “has not made the planned refund” through the designated cryptocurrency exchange, nor has it sold Bitcoin or cash to make the planned reimbursement.
“The Rehabilitation Trustee currently manages bitcoin and bitcoin cash securely. While the Rehabilitation Trustee continues to prepare for the above payments, please wait a moment for the payments to be made“he added.
According to the data of arkham, Earlier today, USD $9.8 billion were transferred in bitcoins to a single wallet, before around $400 million was sent to some new addresses. The address of Mt. Gox now has USD $9.4 billion in Bitcoinwhich represents approximately half of the total stash of Mt. Goxaccording to arkham.
All coins have been transferred to a new address “1JbezDVd9VsK9o1Ga9UqLydeuEvhKLAPs6”, noted the head of research at CryptoQuantJulio Moreno, in a publication by xin line with this information.
This is the first movement of assets from the cold wallets of Mt. Gox in more than five years, as he remembers CoinDesk. Creditors are expected to receive their assets by October 31, 2024 as part of the rehabilitation plan.
Bitcoin price staggered
There are those who consider that most of the bitcoins It will be held by creditors once they receive their payments, rather than being sold on the open market, as others have suggested. However, it seems that traders are leaning more towards this second theory.
The movements of the wallets Bitcoin of Mt. Gox seemed to cause some panic among investors, generating a negative impact on the market. Bitcoin It sank just over 4% to a daily low of USD $67,500 after settling above USD $70,500 during the final closing hours on Monday.
Other major cryptocurrencies also replicated the bearish evolution, with Ethereum (ETH) falling from the $3,900 mark just recovered on Monday. Although the daily losses are relatively low in percentage terms, and other digital assets still maintain gains on the day. BTC changes hands around USD $68,200 at the time of publication.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
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