The now-defunct Mt. Gox exchange recently transferred $352.69 million to two new wallets, according to data provided by Lookonchain.
Notably, the transfer came after the Bitcoin price flash-crashed to as low as $92,980 earlier today after hitting a new all-time high of $103,608.
According to CoinGlass data, a whopping $892.78 million worth of crypto got liquidated over the past 24 hours, with long potions accounting for the vast majority of the sum ($718.71 million).
Yuri MolchanThe cryptocurrency is currently trading at $97,889 after paring some losses.
It is worth mentioning that Mt. Gox also sent 24,052 $BTC ($2.43 billion) to a new wallet right after Bitcoin broke through the $100,000 mark for the first time on Thursday.
Mt. Gox also made substantial Bitcoin transactions last month. However, this did not prevent the cryptocurrency from rallying significantly higher in November.
The infamous Bitcoin trading platform, which went bankrupt back in 2014 after losing 850,000 BTC, began the process of redistribution back in June. The price of Bitcoin experienced a major price correction back then since it was expected that Mt. Gox creditors would cause substantial selling pressure.
In October, its repayment deadline was postponed to late 2025. Hence, the threat of strong Mt. Gox-related selling has evaporated, and the transfers initiated by the now-defunct exchange now have a rather negligible impact on the market.
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Tomiwabold Olajide
Dan Burgin
Vladislav Sopov