The latest price moves in crypto markets in context for Sept. 21, 2023.
back the date for its planned repayments by another 12 months, the trustees for the firm said on Thursday.
The defunct crypto exchange had earlier said the deadline for repayments would be Oct. 31, 2023. That has now been pushed back to Oct. 31, 2024. The creditors of Mt. Gox have been looking for some sort of relief for a decade. The prominent crypto exchange was hacked in 2014, which led to 850,000 bitcoin , worth nearly $23 billion at current prices, being stolen. The exchange managed to recover around 20% of the tokens after the hack.
. Some analysts, including those at UBS, had warned the repayments could cause an increase in BTC's active supply, leading to price weakness. The assumption was that creditors would quickly liquidate their holdings, having waited for nearly a decade, adding to supply. The crypto market depth has deteriorated significantly since the collapse of FTX, which means a few large sell orders can have an outsized negative impact on prices.on Thursday, led by South Korean traders.
Major cryptocurrencies like bitcoin , ether , XRP and BNB traded 0.5% to 1% lower. The IMX price rally is accompanied by an over 22% increase in the 24-hour global trading volume, which rose to $556 million.
The latest breakout in the dominance rate comes as bitcoin trades well below its peak in July. In other words, money is likely being rotated out of alternative cryptocurrencies and into bitcoin.
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