The defunct cryptocurrency exchange Mt. Gox transferred approximately $172.5 million worth of Bitcoin to unidentified wallets less than 24 hours after this leading cryptocurrency exchange recorded a new all-time high above $107,000. On-chain data from Arkham Intelligence shows that Mt. Gox moved 1,691.6 Bitcoin to two unlabelled addresses on December 17.
The reason for the latest BTC transfer from Mt. Gox remains unclear.
1,691.6 BTC transferred by the exchange was split into two transfers of 1,427.9 Bitcoin and 191.7 Bitcoin. A portion of the largest amount ended up in a wallet starting with '1DeY' after transferring through another address.
108 BTC out of the 1,427.9 Bitcoin transferred was subsequently moved through several addresses before ending at an address starting with '1KLr'; on-chain data shows this address currently holds 300 BTC.
The reason behind the latest transfers from the long-defunct cryptocurrency exchange remains unclear. However, previous moves by Mt. Gox have been followed by payments to creditors.
Mt. Gox's moves do not confuse Bitcoin investors.
The latest money transfers occurred after Mt. Gox transferred over 24,000 BTC worth approximately $2.5 billion to an unidentified address just after this leading cryptocurrency surpassed the $100,000 mark. Investors seem unfazed by the recent fluctuations of Bitcoin on this exchange, with BTC trading above $100,000 since December 13.
CoinMarketCap data shows that Bitcoin has increased by more than 1% in the past 24 hours to trade at $106,910.90 as of 2:12 AM EST. This is an increase after reaching a new all-time high of over $107,000 in the last trading session.
According to data from Farside Investors, U.S. spot BTC ETFs (exchange-traded funds) have also extended their impressive inflow streak to 12 days after investors poured $636.9 million into these investment products yesterday. BlackRock's IBIT led the inflow with $418.2 million, bringing their total holdings to over 36,301 BTC.
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