According to Arkham Intelligence, the collapsed Japanese crypto exchange Mt. Gox transferred 47,229 Bitcoin (BTC) worth $2.71 billion to the new wallet. This is the first major transaction since May. 📉

The move comes as part of the exchange's plan to begin paying creditors this month. In total, it is planned to pay $8.5 billion to Bitcoin creditors.

Some analysts have expressed concerns about a possible decline in the price of Bitcoin due to creditors selling assets that have been unavailable for more than a decade.

However, other analysts are reassuring, saying that the total amount of Bitcoin that could be dumped on the market is likely closer to $4.5 billion.

At the moment, the Bitcoin price is $57,328, which is 6.9% lower than a week ago.