Mt. Gox moved another $2.2 billion in Bitcoin on Monday amid extended volatility that has seen the crypto swing between $73,000 and $65,000 over the past few weeks.
The defunct crypto exchange's latest transaction was identified through a wallet tracked by blockchain analytics firm Arkham Intelligence. It was announced A movement of 32,371 BTC, with the majority—30,371 BTC—directed to wallet address “1FG2C…Rveoy”.
An additional 2,000 BTC was first transferred to a separate unmarked wallet before being transferred to Mt. Gox cold wallet has been taken, Arkham data shows.
Bitcoin slipped below $68,000 during Asian market trading and recorded a 1% drop in 24 hours. The property traded at $68,700, resulting in a back-to-back loss.
Market analysts speculate High flexibility Expect prices to rise as high as $8,000 this week as US election moves add to market uncertainty.
Monday's significant move follows a small transfer of 500 BTC to two undisclosed wallets in late September, marking the exchange's first move since then.
These transfers historically precede distributions to lenders through established crypto exchanges, including Bitstamp and Kraken.
Notably, the timing of this latest transfer coincides with Matt Gox's recent announcement that it has extended its payment deadline. one year.
This extension will affect thousands of lenders who lost their assets during the exchange's security breach in 2014, in which nearly 850,000 BTC were stolen – worth more than $15 billion at current market prices.
Matt Gox's historic importance in the crypto industry ecosystem adds weight to these moves.
In the year Founded in 2010, the exchange once dominated Bitcoin trading and after a series of hacks between 2011 and 2014, it now handles more than 70% of global transactions.
The security breach was one of the industry's most significant setbacks, prompting years of legal proceedings and recovery efforts.
Either way, the payout process represents one of the cryptocurrency industry's longest recovery efforts, far beyond immediate market volatility.
While short-term volatility is expected, the maturity of the market since the Matt Gox 2014 crash can help with dramatic price volatility, which Bitcoin often sees. Resilience On such events.
Edited by Sebastian Sinclair.
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