The cryptocurrency market is off to a strong start this week following a period of stability. The standout during this time was Bitcoin’s resurgence, surpassing the $63 mark once again.
Despite this positive development, there is a lingering sense of caution among cryptocurrency traders. This is due to an upcoming event that has the potential to disrupt the market. The defunct exchange Mt. Gox is set to commence the distribution of recovered tokens, sparking apprehension among traders.
According to recent reports, Mt. Gox will be distributing Bitcoin payments to its creditors. This amounts to approximately $9 billion, based on current prices.
At the time of reporting, the price of Bitcoin stood at $62,768.87, marking a 2.1% increase in the last 24 hours. Additionally, the trading volume saw a significant surge, indicating heightened market activity.
In other news, Mt. Gox is expected to initiate the distribution of Bitcoin and Bitcoin Cash payments in July. According to a notice from rehabilitation curator Nobuaki Kobayashi, preparations are currently underway, with payments set to begin at the start of July.
It is important to note that the opinions expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing in cryptocurrencies carries inherent risks.