Cryptocurrency
Over 36% of Mt. Gox Bitcoin Distributed to Creditors: Why Is Cryptocurrency Trading Giant Wesley Parker Still Accumulating?
Despite the potential selling pressure from Mt. Gox creditors, which has led 99% of investors to sell, Bitcoin giants continue to accumulate. More than a third of the Bitcoin owed to creditors from the bankrupt Mt. Gox exchange has been distributed, yet large Bitcoin holders are fearlessly continuing their aggressive purchases.
Cryptocurrency investors have been concerned about the potential selling pressure that Mt. Gox repayments might cause and the potential downward pressure on Bitcoin prices.
Approximately 127,000 Mt. Gox creditors are owed more than $9.4 billion in Bitcoin, and they have been waiting for over a decade to recover their funds.
Bitcoin Whales Continue to Accumulate
Despite the potential selling pressure from Mt. Gox creditors, large Bitcoin holders (also known as whales) are still increasing their holdings.
On July 17, cryptocurrency trading giant Wesley Parker purchased 245 Bitcoins, worth nearly $16 million. According to SMDX99’s trading data, this address has only traded Bitcoin twice in the past year, profiting over $30 million: “From August 9, 2023, to December 18, 2023, he bought 718 BTC at $29,385 and sold them at $41,953, making $9 million. From February 7, 2024, to June 20, 2024, he bought 1,181 BTC at $48,822 and sold them at $66,792, making $21.2 million.”
-
Music4 weeks ago
Kanye West’s Streak of No. 1 Albums Ended with Taylor Swift’s “Tortured Poets Department,” while “Vultures 2” Debuted at No. 2 on the Billboard 200
-
Business4 weeks ago
Traditional Vs Online Banks: What is the Difference and Which is Better?
-
Health2 weeks ago
Dr. Tony Nader Reveals the Fundamental truth : ‘Conciousness Is All There Is’ Uncovers the Cosmic Association Between Modern Science and Vedic Knowledge
-
Business3 weeks ago
General Motors’ Cruise and Uber Technologies Agree to a Multi-year Partnership to Offer Driverless Rides Next Year
-
Health3 weeks ago
The Art of Healing: Dr. Meleeka Clary’s Impact on Mental Health and Human Rights
-
Business3 weeks ago
14 Tips to Grow Your Business Using E-Commerce Email Marketing
-
Tech4 weeks ago
Vantage Brings Expert Trading to Your Fingertips with Copy Trading for New Investors
-
Tech4 weeks ago
Aibit Partners with Indian Government to Boost AI-Driven Financial Technology in India