Key Points
- Mt. Gox transferred 42,587 BTC worth about $2.7 billion to an unknown address.
- Earlier, the exchange moved 0.021 BTC worth about $1,300, as a potential transfer test.
According to the latest reports coming from The Block Pro citing Arkham, Mt. Gox transferred 42,587 BTC worth approximately $2.7 billion to an unknown address.
Earlier, according to the same reports, Mt. Gox transferred almost 527 BTC worth over $33 million to another address.
Today, the exchange also transferred 0.021 BTC worth approximately $1,300 to a certain address which is believed to be a transfer test.
Mt. Gox repayments to creditors and potential sell-offs affected the price of Bitcoin lately, triggering intense volatility. Reports from the beginning of this month revealed that Mt. Gox creditors could wait up to three months until they receive their Bitcoin or Bitcoin Cash repayments.
The repayment process depends on the crypto exchanges that creditors made claims with, according to the trustee document.
On July 5, the defunct exchange revealed that it had started making repayments to a part of the designated crypto exchanges in accordance with the rehabilitation plan.
The Tokyo-based crypto exchange was launched back in 2010 and it abruptly ceased operations in 2014.
Bitcoin’s price saw a drop today to around $63,000 from the $64,000 level that it reached earlier.
Bitcoin At $63,000
At the moment of writing this article, Bitcoin is trading at $63,000, seeing a price drop following the latest Mt. Gox coins’ transfers.
Earlier today, BTC traded close to $65,000 following a period of intense volatility that intensified after the previous weekend.
The crypto market reacted to the latest political events that took place on July 13 when an assassination attempt against Donald Trump took place at a rally in Pennsylvania.
He was shot in the ear during the attack, but shortly after, his campaign said that he was doing well. On X, Elon Musk has been showing support for the former US President.
On July 14, Trump-related tokens and his NFT collection recorded price spikes after the unfortunate event.