Mt.Gox Creditors Opt to HODL BTC, Why?

IconCryptoNewsTerminal Staff24 Jul, 2024

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Mt.Gox Creditors Opt to HODL BTC, Why?

Mt.Gox, the infamous cryptocurrency exchange that collapsed in 2014, has started to repay its creditors. After years of legal battles, the exchange has begun distributing a portion of the recovered BTC to its creditors. Interestingly, on-chain analytics firm OnChainSchool reported, "There has been a massive outflow of BTC from Kraken exchange since Mt.Gox started to repay creditors." Additionally, the trading volume was not exceptionally high during this time frame. This could be a promising sign that creditors are not selling their recovered coins and are instead moving them to cold storage, reflecting the "HODL" sentiment within the crypto community.

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