After over a decade of suspense, creditors of the defunct Mt. Gox Bitcoin (BTC) exchange have finally begun receiving long-awaited payouts this month. Data from research firm Glassnode shows that as of Tuesday, 59,000 of Mt. Gox’s 142,000 BTC had already been distributed to creditors via the Kraken and Bitstamp exchanges, with another 79,600 BTC to follow soon. Muted Selling Pressure Expected? According to a recent report by Glassnode, the total recovered coin volume amounts to over 141,686 BTC, with nearly 59,000 BTC already finding their way to creditors and the remaining sum awaiting distribution. Kraken and Bitstamp have been entrusted as one of the five designated exchanges responsible for managing and disbursing these funds. Kraken has received 49,000 BTC and Bitstamp the initial tranche of 10,000 BTC. Notably, the firm noted that the size of these distributions already surpasses recent significant transactions in the cryptocurrency space, including crypto ETF inflows, issuance to miners, and the massive selling pressure experienced by the German government between June and July. Related Reading: Analyst Identifies Bullish Pattern That Can Send XRP Price To New Highs ..
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