Crypto investors have retaliated against the bears of Mt. Gox with a massive $441 million inflow into digital assets. This strategic response is a result of recent selling pressures and the activity surrounding the defunct exchange. Bitcoin received the majority of the inflows, with $398 million, influenced by its price drop and movements related to Mt. Gox. The United States led the inflows, followed by Hong Kong, Switzerland, and Canada. However, Germany experienced outflows of $23 million. Bitcoin’s market performance remains volatile, with a 1.39% decline in the past 24 hours. Mt. Gox made significant moves by transferring over 47,000 BTC to repay its creditors, while the German government moved 3,000 BTC to various exchanges and a wallet. These actions contributed to increased buying activity in the market. In terms of altcoins, Solana saw the highest inflows with $16 million, followed by Ether with $10 million. On the other hand, blockchain equities experienced further outflows, highlighting a divergence in investor sentiment between digital assets and blockchain-related stocks.
Crypto Investors Counter Mt Gox Bears with a 441M Inflow in Retaliation
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