As Mt. Gox transfers $130 million to Bitstamp, Bitcoin Approaches $66K.
Over $2.5 billion was transferred between wallets by the now-defunct cryptocurrency exchange, with a portion of that amount going to Bitstamp.
As the now-defunct exchange Mt. Gox began to transfer its most recent tranche of the asset to Bitstamp, a cryptocurrency exchange that has historically caused sell-offs in the larger market, Bitcoin (BTC) traded close to $66,000.
Next, it sent more than 5,000 Bitcoin to one wallet, which is currently valued at $340 million, and another 37,000 Bitcoin, which is valued at $2.5 billion, to a second wallet.
Data indicates that almost $130 million worth of Bitcoin was subsequently moved to Bitstamp from the 5,000 BTC wallet. Transferring to exchanges typically indicates a desire to sell shares.
The transactions occurred one day after Mt. Gox, probably as a test transaction, shifted tiny quantities of BTC to Bitstamp.
Mt. Gox started paying back creditors impacted by a 2014 hack in early July. In the upcoming months, traders will get distributions totaling over $9 billion in Bitcoin and $73 million in Bitcoin Cash (BCH).
As Mt. Gox began to relocate assets, the price of bitcoin fell below $67,000 early on Tuesday, which negatively impacted market sentiment.
Later in the day, U.S. investors were hoping to begin trading spot ether (ETH) exchange-traded funds for the first time.
