As of 1 p.m. on the 10th, the overseas Bitcoin price based on CoinMarketCap was down 2.49% from the same time the previous day to $60,803 (approximately JPY 9.09 million).
While the New York Stock Exchange ended the day with a second consecutive day of gains, the movement of funds related to PlusToken is pointed out as the reason for the fluctuations in the virtual asset market alone.
Token is a Chinese cryptocurrency (virtual currency) pyramid scheme (fraudulent) project that was reported as the largest cryptocurrency scam in history in 2020 when its executives were arrested by Chinese authorities.
On the 9th (local time), OXT research analyst FreeSamourai posted on X (formerly Twitter) that "PlusToken-related wallet addresses have been sending out messages in the past 24 hours."
"Around 7,000 ETH (approximately $16.63 million, or 2.486 billion yen) was deposited into centralized exchanges such as Binance, OKX, and Bitget."
Depositing funds into a centralized exchange is generally considered a “selling” action, which could potentially result in a large amount of money being released into the market.
The rise of the Bitcoin spot ETF has led to a drop in the prices of major virtual assets, including Bitcoin. The flow of funds into the US Bitcoin spot ETF has also turned into a net outflow.
F recorded net inflows for two consecutive trading days on the 4th and 7th, but recorded a net outflow of $18.6 million (approximately 2.78 billion yen) on the 8th (local time).
2024/10/10 14:11 KST
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