EddieJayonCrypto
24 Jul 24
The beleaguered crypto exchange Mt. Gox has made massive Bitcoin transfers, indicating potential repayments to creditors. A total of $2.47 billion worth of Bitcoin was moved to a new unknown wallet, with additional smaller transfers to the same wallet. Kraken has also started distributing Bitcoin ob...
MT. GOX SIGNALS HUGE BITCOIN REPAYMENTS THIS WEEKThe beleaguered crypto exchange Mt. Gox has made massive Bitcoin transfers, indicating potential repayments to creditors. A total of $2.47 billion worth of Bitcoin was moved to a new unknown wallet, with additional smaller transfers to the same wallet. Kraken has also started distributing Bitcoin obtained from Mt. Gox Rehabilitation Trustee.
MASSIVE BTC LIQUIDATION AT RISKThe total liquidations reached $160 million in the last 24 hours, raising concerns about potential massive BTC liquidations. The BTC price fell over 1% in the past 24 hours, trading near $65,750, with a decrease in trading volume indicating declining trader interest.
DETAILS OF MT. GOX'S BITCOIN TRANSFERSA wallet linked to Mt. Gox transferred 37.477K BTC to a new unknown wallet address, valued at $2.47 billion. Additionally, 5.106K BTC worth $335.76 million were moved to another wallet address. Mt. Gox Rehabilitation Trustee still holds $5.93 billion in Bitcoin and is expected to make more significant transfers.
LARGER INDUSTRY IMPLICATIONSCrypto liquidations totaling $160 million in the last 24 hours have raised concerns among traders. The decrease in trading volume and BTC price decline indicate waning trader interest.