The compensation for the Mentougou incident has arrived. According to Mempool data, Mt. Gox transferred 47,228 BTC (US$2.71 billion) from cold storage to a new wallet.
Coupled with the fact that Germany is selling the seized Bitcoin, the market is under too much selling pressure, causing BTC to fall sharply. Hang on!
According to blockchain intelligence company Arkham on-chain data, the German government has been selling seized Bitcoin, but still holds more than 40,000 BTC, worth more than US$2.3 billion.
Coupled with past experience, the sentiment of the entire virtual currency market in the summer is not ideal. It is possible that in the next FTX compensation, a large number of FTX users will invest funds in web3, which will be an opportunity for a wave of rise.
