stompix
Legendary
*
Offline Offline

Activity: 1106
Merit: 1043



View Profile Personal Message (Offline)

Ignore
May 12, 2018, 12:40:23 PM

I tried to research how much money was actually invested in crypto and few sources said that it's about 10% of indicated market cap. Yesterday Mt.Gox's Kobayashi presumably sold BTC equivalent of ~$7,000,000 and market cap was decreased for ~$70,000,000, is there any relation or it's just a coincidence?

If $7 000 000 worth of bitcoin was sold, that means another $7 000 000 was invested in bitcoin.  Huh

The MtGox coins which moved have been consolidated into a single address via two transactions from the original addresses where they've sat since 2014, this is where they are now :

https://blockchain.info/address/1LncfoCX1yzuiW3hzejarvgZ1WahnAQ4o4

They're just sitting there doing nothing.

I find in funny how some 8000 coins have managed to scare almost all traders in a market that claims to have daily volume of 876,681 BTC

If Kobayashi moves another batch we're going to see 7000 probably  Grin Grin Grin.
Would be hilarious to hear him on Monday saying that the move was for security reasons and that he has no plans on selling any of those coins.