On Tuesday, Mt Gox appears to have moved more than $2 billion to a new address. Data from Arkham Intelligence indicates that Mt Gox transferred 33,105 BTC, worth approximately $2.19 billion, to an address starting with “bc1q26”.
However, the owner of this address has not yet been identified.
Mt Gox Distribution
The latest transaction follows previous transfers of billions of USD in Bitcoin to designated cryptocurrency exchanges such as Bitbank, Kraken, Bitstamp and SBI VC Trade over the past few weeks.
Arkham data shows wallets linked to Mt Gox still contain approximately $5.29 billion.
Last week, Bitstamp revealed that it would begin distributing assets to Mt Gox creditors. Meanwhile, Kraken reports that it has “successfully distributed” BTC and Bitcoin Cash (BCH) to customers affected by the attack that caused the former Japanese exchange to collapse a decade ago.
More recently, the Mt Gox trustee released a statement announcing that refunds in BTC and BCH were made to specific creditors through designated cryptocurrency exchanges on July 5, 16 and 24.
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The trustee also noted that as of July 24, more than 17,000 creditors had received repayments.
Mt Gox was once the world's largest cryptocurrency exchange, managing more than 70% of all BTC transactions globally.
The company filed for bankruptcy in February 2014 after hackers stole 850,000 BTC. A recovery proposal was subsequently approved in 2021, promising to return about 90% of assets to affected customers.
Long-term holders reduce selling pressure
Glassnode's findings indicate that while the long-awaited Mt Gox distribution marks a significant victory for creditors who fought hard to be repaid in BTC rather than fiat, the Significant price increases over the past decade suggest that some selling pressure from takers is inevitable.
However, the blockchain information platform observed that the creditor profile skews towards long-term investors, which could reduce the selling pressure in the coming weeks.
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Additionally, the balance sheets of long-term holders continue to grow and their share of network assets remains high relative to previous market peaks.
This shows that the dominant market behavior has shifted to HODLing, with seasoned investors holding on to their coins in anticipation of higher prices.
Source: https://tintucbitcoin.com/mt-gox-chuyen-hon-2-ty-usd-den-vi-moi/
