That’s the sale of the Bitcoin Gold? Why someone moved all the coins that remained intact from last year, since when the blockchain Bitcoin Gold broke away from the main bitcoin network?
On Tuesday, February 20, was first displaced approximately 664 000 BTG, which became the largest movement of BTG since the launch of network in November.
Fork officially took place on October 25, but the network itself BTG designers launched in mid-November. Since the network was created through hardwork Bitcoins, all BTC holders got BTG in the same amount.
A large portion of the coins moved in the first few weeks after the launch of the network for the rest of time activity of the movement was down. Until this Tuesday.
The first person to notice what is happening, was Antoine Le Calvez — engineer startup Blockchain. Antoine is also the Creator of the website, which aims to track the distribution of tokens of certain forks. In his opinion the transaction with BTG 664 000 made service for storing bitcoins “Xapo”.
Shortly after the October fork “Xapo” distributed Gold Bitcoin among its customers. However, this transaction could be implemented for one or more institutional customers.
In November and December, the coin was trading above $ 400, but needed the support of the community she never got in the way, for example, went to a Bitcoin Cash. The recent market correction is also not the best way impact on BTG. 5 Feb Bitcoin Gold fell to $ 74.
At the time of this writing, Bitcoin is Gold traded at a price just above $115 with a market capitalization of $1 947 818 168. BTG holds the 19th place in the CoinMarketCap list.
If the owners of BTG 664 000 want now to sell all of the coin — the consequences will be catastrophic. At the current market price 664 000 coins worth nearly $77 million However, according to CoinMarketCap daily trading volume of Bitcoin Gold is about $39 million Selling 664 000 BTG will cause the collapse of the market.
In fact, it is enough, and the fact about the movement of so many coins that traders started to sell their assets in BTG, further lowering its cost.