The funds remain untouched in the new wallets, suggesting that the move was proactive and likely part of a broader operational security measure rather than a response to market activity.
An Ethereum whale has dumped its ETH holdings after holding them for over two years, even through a bull market. This capitulation from the ETH whale suggests it might be a good time to offload the leading altcoin, with a further crash in the coming weeks a possibility. Ethereum Whale Dumps 10,000 ETH After 900 Days In an X post, on-chain analytics platform Lookonchain revealed that an Ethereum whale finally capitulated after holding for over 900 days, selling all their 10,000 ETH for $15.71 million. This whale had originally bought 10,000 ETH for $12.95 million at an average price of $1,295 on October 4 and November 14, 2022. Related Reading: Ethereum Pain Is Far From Over: Why A Massive Drop To $1,400 Could Rock The Underperformer The Ethereum whale didn’t sell any of their ETH holdings, even when the leading altcoin broke through $4,000 twice in 2024. However, the whale has now capitulated with the Ethereum price below $1,500, nearing their average entry price of $1,295. The investor sold the coins for a $2.75 million profit, while their unrealized profit was $27.6 million at its peak. This Ethereum whale isn’t the only one who is capitulating. As Bitcoinist reported, ETH whales have dumped over 500,000 coins in the space of 48 hours. This development is thanks to Ethereum’s massive crash, with the leading altcoin at risk of dropping lower. This decline is part of a broader crypto market crash, which has occurred due to Donald Trump’s tariffs. Trump’s tariffs have led to a major trade war with China, which has promised not to back down, further sparking concerns among investors. As such, the Ethereum price looks more likely to suffer a further crash in the meantime, which explains why these Ethereum whales are capitulating to cut their losses. Donald Trump’s World Liberty Financial Also Capitulating? Donald Trump’s World Liberty Financial (WLFI), an Ethereum whale, looks to be feeling the heat and might have already started capitulating. Citing Arkham Intelligence’s data, Lookonchain revealed that a wallet possibly linked to WLFI sold 5,471 ETH for $8.01 million at the price of $1,465, representing a loss for the whale in question. Related Reading: From Solana To Ethereum? Donald Trump’s World Liberty Spends $20 Million On ETH World Liberty Financial had previously bought 67,498 ETH for $210 million at an average price of $3,259. The crypto firm is now sitting on an unrealized loss of $125 million, seeing as the Ethereum price has declined by over 50% since their purchases. Crypto analyst Ali Martinez predicts that the Ethereum price will crash further in the short term, indicating that Ethereum whales like WLFI could witness more unrealized loss on their ETH holdings. Martinez stated that $1,200 could be where the leading altcoin finds its footing. At the time of writing, the Ethereum price is trading at around $1,400, down over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com
Mt. Gox, the Bitcoin exchange that is now insolvent, has transferred 11,833.6 BTC, totaling approximately $931 million, to new addresses, in a significant development within the cryptocurrency community. The prospective impact of this action on the broader crypto market has sparked discussions. Related Reading: XRP Set For A ‘Life-Changing’ Month? Expert Sees $27 Incoming Bitcoin Movement: Details Of The Transfer According to blockchain research by Arkham Intelligence published on March 11, Mt. Gox made two notable Bitcoin transactions. The first transaction consisted of the 11, 501.58 BTC (about $905 million) being sent to an unknown wallet. The second transaction consisted of the transfer of 332 BTC (about $26.1 million) to a hot wallet. Context And Background This recent activity is the result of a succession of significant transactions by Mt. Gox. On March 6, the exchange transmitted more than $1 billion in Bitcoin to a wallet assigned the name “1Mo1n.” The most recent transfers were initiated by the same wallet, which is now acknowledged as an official Mt. Gox address. The current value of Mt. Gox’s holdings is approximately $2.85 billion, with an estimated 35,915 BTC. Market Consequences Historically, investors have expressed apprehension regarding the potential for sell-offs of substantial Bitcoin quantities from Mt. Gox, which could potentially lower the price of the flagship crypto. Nevertheless, the market’s immediate response to these recent transfers has been lackluster, indicating that the market may have already factored in these events or that the actual sale of these assets has not yet taken place. A Look Back At Mt. Gox’s History At one point, Mt. Gox handled up to 80% of all Bitcoin transactions worldwide, making it the biggest Bitcoin exchange in the world. The platform experienced a significant security breach between 2011 and 2014, which led to the loss of about 850,000 Bitcoin, which was worth about $500 million at the time. The exchange filed for bankruptcy as a result of this incident, leaving thousands of creditors in a precarious financial – and even psychological – situation. There have been attempts to pay back creditors in recent years. This restitution process includes the recovered funds, including the Bitcoins that are moving right now. The cryptocurrency community keeps a careful eye on the timing and format of these reimbursements since they have the ability to affect market dynamics. Related Reading: Bitcoin’s ‘Ugly Start’ – Weekend Sell-Off Pushes Price Near $80K The Bigger Picture The bitcoin industry has had several well-publicized security lapses over the years. For instance, the February 2025 hack on the Bybit exchange resulted in the theft of $1.5 billion worth of Ether tokens, making it one of the largest cryptocurrency thefts to date. The most recent $931 million Bitcoin transfer from Mt. Gox has spurred fresh discussions about the security and feasibility of cryptocurrency exchanges. Despite the scenario’s apparent lack of immediate market impact, it serves as a warning of the dangers and complexity inherent in the digital asset space. Featured image from Gemini Imagen, chart from TradingView
Wallets linked to Mt. Gox still hold $2.9 billion of assets, which are due to be paid out to creditors this October.
Bitcoin took center stage again as Mt. Gox moved 12,000 BTC, valued at over $1 billion, to an unknown wallet. This occurs at a time when Bitcoin is trading at approximately $92,000, a level that has caused market volatility. The actions of the defunct exchange have sparked debate regarding whether this movement indicates imminent creditor repayments or something else entirely. Related Reading: Billionaire Warns Of Financial Turmoil—Will Bitcoin Save Investors? Large Bitcoin Transfer Raises Eyebrows Mt. Gox collapsed in 2014 following a major attack, and for years it has been in the process of reimbursing debtors. Regarding the trade, the movement of 12,000 BTC represents among the most important events in recent history. While some people think it may be a big step toward the much-needed repayments, others worry about the possible market pressure a big sell-off could generate. On March 6, Arkham Intelligence reported that a Mt. Gox-linked wallet, “1PuQB,” moved 12,000 BTC, with 11,834 BTC (over $1 billion) sent to an unidentified wallet, “1Mo1n,” and 166.5 BTC ($15 million) transferred to Mt. Gox’s cold wallet, “1Jbez.” ARKHAM ALERT: MT GOX MOVING $1B $BTC pic.twitter.com/VpIkHdJQkl — Arkham (@arkham) March 6, 2025 This marks the first major transaction since January, when smaller amounts were shuffled between its cold wallets. Mt. Gox-linked wallets still hold approximately 36,080 BTC, valued at $3.26 billion, according to Arkham. Such a large volume of Bitcoin movement historically has caused market volatility to rise. Investors are closely monitoring the possible sale in great numbers or redistribution of these monies to creditors. Although the recent surge in Bitcoin shows strong buying demand, this latest movement – if its a sell – could trigger a price dip, Bitcoin Price Remains Stable At Or Above $90,000 Bitcoin is strong and is currently trading at about $91,680 despite the uncertainty. The market’s lackluster reaction to the transfer thus far may suggest that investors are “cool” about the most recent activity from the now-defunct exchange. Similar huge transactions have previously resulted in brief declines, but the price of Bitcoin has continued to rise. Creditors Await Further Updates Mt. Gox’s creditors have been waiting years for their money to come back. Payback has been slow and marked by delays. Although this most recent transaction shows that development is happening, it is still unknown when or how the creditors will get their Bitcoin. Many hope that restitution will be handled smoothly so that it minimizes disturbance of the market. However, until official announcements are made, speculation will continue. The crypto community remains watchful for any updates that might clarify the exchange’s next steps. Related Reading: Bitcoin ‘Won’t Stop At $150K’ This Year, Research Firm Chief Says What Next For Bitcoin Meanwhile, any information regarding Mt. Gox’s forthcoming actions could potentially influence the coin’s short-term price action. Investors and analysts will be monitoring the transferred BTC for indications of heavy selling activity. Featured image from Gemini Imagen, chart from TradingView
Arkham also offers USDT-based perpetuals trading, though that feature is off-limits for users from the United States.
Bankrupt crypto exchange Mt. Gox shuffled nearly 1,620 Bitcoin through a series of unknown wallets less than two weeks after it did the same with over 24,000 BTC.
The BlackRock-issued iShares Bitcoin Trust is now backed by more than $48.9 billion worth of Bitcoin, blockchain data shows.
Long-bankrupt crypto exchange Mt. Gox moved over 24,000 Bitcoin to an unknown address after the cryptocurrency struck above $100,000.
The program will last for 30 days and points will be convertible to Arkham’s native token, ARKM.
Mt. Gox is back in the news, this time, transferring 32,371 Bitcoin, valued at $2.19 billion at current prices, to an undisclosed address. The transaction from a defunct crypto exchange happened when Bitcoin’s market price was stuck in the $65k to $73k range and anticipating the results of the US elections. Related Reading: No Comeback: […]
Mt. Gox-linked crypto wallets still hold $2.7 billion of bitcoin after having distributed nearly $6 billion worth of assets to creditors earlier this year, Arkham data shows.
According to the latest data, the world’s largest asset manager BlackRock has added another feather to its cap, becoming the company with the largest crypto exchange-traded fund (ETF) holdings. Here’s How BlackRock’s ETFs Compare To Grayscale’s Funds Crypto intelligence platform Arkham revealed in a post on X that BlackRock has usurped Grayscale to become the […]
Some users in the Mt. Gox creditors channel on Reddit reported receiving funds on their BitGo accounts.
An unexpected move that has captivated the cryptocurrency sector and beyond, the US government delivered around $2 billion worth of Bitcoin to an unnamed recipient. Much speculation has arisen as a result of this massive transaction regarding the motivations behind the transfer and any potential political implications. Related Reading: NSA Whistleblower Edward Snowden Drops Bombshell […]
As the unlocking process progresses, the involvement of Coinbase Custody will play a crucial role in managing the vesting of these tokens.
Around $1.2 billion worth of crypto in the top five holders’ wallets have been flagged as ‘inaccessible’ due to lost private keys.
Solana-based DeFi protocol MarginFi saw hundreds of millions in outflows after its CEO rage-quit amid growing controversies and accusations of failed promises.
The company alleged that “two of our competitors are spreading false rumors about ARKM movements in an attempt to create FUD.”