2024

Galaxy

Impact

Arkham

According to Arkham data, bankrupt cryptocurrency exchange Mt. Gox moved 13,265 Bitcoin on-chain.
Accordingly, an address connected to the bankrupt exchange Mt.Gox moved 13,265 BTC worth $784 million, and 12,000 BTC of them went to an address identified as ” 1PuQB “.
Of these, 12,000.17 BTC (worth $709.44 million) appear to have been transferred to a Bitstamp address, on-chain data platform Lookonchain noted.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Mt. Gox transferred 12,000.17 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($709.44M) again 4 hours ago, most likely to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitstamp</a>.
 In July, <a href="https://twitter.com/hashtag/MtGox?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MtGox</a> transferred 95,523 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($6.14B) to <a href="https://twitter.com/hashtag/BitGo?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitGo</a>, <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitstamp</a>, <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kraken</a>, <a href="https://twitter.com/hashtag/SBIVCTrade?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SBIVCTrade</a> and <a href="https://twitter.com/hashtag/Bitbank?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitbank</a> for repayment.
 And <a href="https://twitter.com/hashtag/MtGox?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MtGox</a> still holds 46,164 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($2.74B). <a href="https://t.co/OQtxWtwlg4" rel="noopener noreferrer nofollow">pic.twitter.com/OQtxWtwlg4</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1826100559977525604?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 21, 2024</a>
</blockquote>
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While Mt. Gox still has over 46,000 BTC worth around $2.7 billion in its possession, in July, Mt. Gox transferred 95,523 BTC (worth $6.14 billion) to various exchanges, including BitGo, Bitstamp, Kraken, SBI VC Trade, and Bitbank, as part of a refund process.
While concerns that the selling pressure from Mt. Gox may re-emerge in the Bitcoin price after the last transfer have revived in the market, according to Alex Thorn, Head of Research at Galaxy Digital, the recent on-chain movements may not turn into significant selling pressure.
“We currently believe that of the 13,265 BTC moved in this transaction, only 1,265 (worth $74.5 million) are for distribution and sale, with 12,000 going into fresh cold storage, meaning a very small amount can be sold,” Thorn said in a statement on X.
This latest transfer marked Mt. Gox’s first major Bitcoin transaction since July 30, while Bitcoin did not show any significant reaction and remained largely steady above $59,000.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/mt-gox-wallets-are-seeing-movement-13-thousand-bitcoins-moved-how-much-will-be-sold-what-will-be-its-impact-on-btc-price/" rel="noopener noreferrer nofollow">Mt. Gox Wallets Are Seeing Movement: 13 Thousand Bitcoins Moved! How Much Will Be Sold? What Will Be Its Impact on BTC Price?</a>

Mt. Gox Wallets Are Seeing Movement: 13 Thousand Bitcoins Moved! How Much Will Be Sold? What Will Be Its Impact on BTC Price?

Bitcoin Sistemi EN

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