Monat: Mai 2024

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Mt. Gox moves over $9 billion in BTC to new wallet

  • Bitcoin price dipped nearly 2% on Tuesday morning to trade at lows seen last Friday before rebounding slightly as of writing.
  • This BTC price decline came after the latest crypto news around defunct cryptocurrency exchange Mt. Gox. 

On May 28, Mt. Gox moved more than 141,000 BTC worth over $9.6 billion to a new unknown wallet.

Data shows the transfers happened in several transactions, with chunks of between 3,999 BTC and 32,499 BTC. The latest on-chain data shows all of the coins are now transferred to the new address.

As the market reacted to the news, Bitcoin price fell from highs of $70,000 to lows of $67,550. The flagship cryptocurrency’s price had however rebounded to above $68,000. BTC remains 4% down this past week.

BTC price and the Mt. Gox creditor repayment plan

Mt. Gox was once the crypto industry’s largest Bitcoin exchange before a 2014 hack saw it lose over 850,000 BTC. After years of waiting amid recovery efforts, creditors are set to receive reimbursements.

The process sees the defunct exchange move BTC from its cold wallets for the first in five years. According to the approved repayment plan, creditors should receive their bitcoins by October 31, 2024.

The bearish market reaction is down to the potential influx of fresh selling pressure on prices.

Analysts at K33 Research warned in April that the impending $9 billion Mt.Gox payout could catalyse downside pressure on Bitcoin’s price.

Despite this outlook, the market remains largely bullish on BTC price long term. Crypto analyst Miles Deutscher believes any dips amid the repayments could offer an opportunity to accumulate.

The post Mt. Gox moves over $9 billion in BTC to new wallet appeared first on CoinJournal.

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Notcoin price soars after beating Bitcoin in vote post NOT Airdrop launch

  • Notcoin price surges 33.42%, reaching $0.006884 after community votes favor it over Bitcoin.
  • New NOT airdrop and earning missions boost user engagement and investment interest.
  • Notcoin (NOT) is currently on its way back to its Binance listing price

Notcoin (NOT) price has seen a remarkable surge in its price, climbing by over 33.42% in the past 24 hours to reach $0.006884.

This surge has catapulted Notcoin’s market cap to over $707 million, reflecting a 33.38% increase and placing it at number 114 in cryptocurrency market cap ranking.

The NOT price spike follows a favorable community vote where Notcoin was overwhelmingly preferred over Bitcoin, capturing 86.2% of the 29,711 votes cast in a recent social media poll.

Comparing Notcoin and Bitcoin

Notcoin’s development team has been making strategic marketing moves by the team behind the project. The team has drawn comparisons with Bitcoin, highlighting Notcoin’s limited supply, wide distribution, and relative affordability.

They pointed out that the last time Bitcoin had a market cap of around $0.5 billion in 2013, its price was approximately $100. This historical perspective aims to underscore Notcoin’s growth potential.

The NOT Airdrop

Adding to the excitement, Notcoin announced the launch of NOT Airdrop Phase 1 on May 26, 2024. Users can connect their wallets to check their airdrop allocation, adding another layer of engagement and incentive for the community.

This announcement has likely fueled the recent trading frenzy, with 24-hour trading volume soaring by 217.43% to $544.8 million, positioning Notcoin at number 20 in trading volume.

Notcoin’s passive earning feature

Notcoin has also introduced “earning missions,” a new feature that allows users to earn NOT tokens passively by engaging with various partner projects and communities.

Under this feature, users can increase their rewards by staking NOT, with higher levels like Platinum offering the most substantial returns.

In closing, Notcoin team’s comparison to Bitcoin, coupled with active community engagement through polls, airdrops, and innovative earning mechanisms, has created a perfect storm of interest and investment.

The post Notcoin price soars after beating Bitcoin in vote post NOT Airdrop launch appeared first on CoinJournal.