SoSo Daily Mar 6 | Mt. Gox Transfers Over $1 Billion in Bitcoin to Unmarked Address

Let's turn our attention to today's overall Crypto market situation.
As of 11:59 AM on March 6, 2025, according to sosovalue, the total market cap of the crypto market stands at 3.11 trillion US dollars, witnessing an increase of 0.196% compared to yesterday; the total trading volume is 133.25 billion US dollars, marking a decline of 24.6% from the previous day.

According to sosovalue, the price of $BTC is 91,334 USD, an increase of 1.69% from yesterday. The market cap of $BTC is 1.81 trillion USD, accounting for 58.2% of the total market cap; $BTC's 24-hour trading volume is 50.57 billion USD, making up 37.9% of the total trading volume.
The price of $ETH is 2,296 USD, up 3.53% from yesterday; the market cap of $ETH is 276.88 billion USD, representing 8.9% of the total market cap; $ETH's 24-hour trading volume is 21.04 billion USD, comprising 15.8% of the total trading volume.
The combined market capitalization of $BTC and $ETH accounts for 67.1% of the total cryptocurrency market cap, and their combined trading volumes constitute 53.7% of the total trading volume.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 12:00 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is DeFiChain. As of 11:50 today, its market cap is 10.89M, with a coin price of 0.012490 USD, witnessing a 24-hour increase of 68.3%.
The second is Sylo. As of 11:50 today, its coin price is 0.0010560 USD, with a 24-hour increase of 68.2%.
The third is Bluzelle. As of 11:50 today, its coin price is 0.048800 USD, showing a 24-hour increase of 64.9%.
In fourth place is CZ'S Dog. As of 11:50 today, its coin price is 0.036740 USD, with a 24-hour rise of 50.3%.
In fifth place is Ferrum Network. As of 11:50 today, its coin price is 0.0010900 USD, increasing by 45.3% over the last 24 hours.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:Mt. Gox, a bankrupt crypto exchange, transferred over $1 billion worth of bitcoin to an unmarked address, as reported by Arkham Intelligence. The transaction involved approximately 11,834 $BTC from Mt. Gox's wallet to the address "1Mo1…9gR9". This marks the first significant transaction by Mt. Gox since January. Additionally, 166.5 $BTC was moved to its cold wallet "1Jbez" shortly after. Mt. Gox, once the largest bitcoin exchange, filed for bankruptcy in 2014 after losing over 800,000 BTC. Creditors are still awaiting repayment, with the deadline extended to October 31, 2025.
Next news:

Charles Hoskinson, the founder of Cardano, stated that he is unaware of Trump's plan to include ADA in the strategic reserve. "We know nothing about ADA being included in the strategic reserve; this is news to me. We were never informed about this matter, and no one has ever discussed it with us," Charles Hoskinson added. Hoskinson also talked about the White House cryptocurrency roundtable on March 7, claiming that neither he nor any representatives from Cardano have received an invitation so far this week. (Cointelegraph)

Next news:According to Wu's report, monitoring by @ai_9684xtpa revealed that 8 hours ago, Gate's hot wallet transferred 2,904,885 GT (worth 63.88 million USD) to the address 0x2b8…5f308. This address exactly matches the receiving address in the destruction records officially released for the third quarter. If the destruction is confirmed, the total amount of GT destroyed will increase to 177 million (approximately 3.90 billion USD). Currently, Gate has not yet released the destruction announcement for the fourth quarter, and official information should be prioritized.
Next news:

According to SoSoValue, as of March 5th (Eastern Time), Bitcoin spot ETFs experienced a total net outflow of $38.30M.

Yesterday, Grayscale's ETF GBTC had a net outflow of $0.00 , bringing GBTC's total historical net outflow to $22.35B.

Grayscale Bitcoin Mini Trust ETF $BTC had a net outflow of $ 0.00 ，bringing Grayscale Bitcoin Mini Trust ETF $BTC's total historical net inflow to $1.09B.

The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $38.93M, with IBIT's total historical net inflow reaching $39.66B.

As of this writing, the total net asset value of Bitcoin spot ETFs stands at $102.12B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 5.69%. The historical cumulative net inflow has reached $36.69B.

Source: https://sosovalue.com/assets/etf

Next news:Eduardo Tayanos, the federal prosecutor of Argentina, is actively seeking to freeze assets related to the Libra meme coin scandal, which has attracted attention due to its alleged connection to President Javier Milei. The investigation focuses on the Solana-based meme coin Libra, which Milei promoted on social media last month. Its market value soared to over 2 billion under Milei's support but subsequently plummeted by more than 90%. Tayanos has requested to freeze over 110 million obtained from the issuance of Libra and plans to restore deleted social media posts, including Milei's initial endorsement statement. The case has sparked a political storm in Argentina, with the opposition calling for Milei's impeachment, while his allies claim he was not directly involved in the token's creation. Milei tweeted on February 14 to promote the Libra project, stating it would fund small businesses and startups to boost the Argentine economy. Although Milei has distanced himself from the project, denying detailed knowledge and deleting promotional posts, the prosecutor's actions indicate an in-depth investigation into his involvement. Hayden Davis, CEO of Kelsier Ventures, appears to play a central role in the Libra scandal and has prompted the president's promotion. Davis admitted during an interview with YouTube investigator Stephen Findeisen that he holds all profits from the Libra crash, worth over 110 million.
Next news:

Odaily Planet Daily reported on March 6th that Tether, the issuer of the stablecoin, froze approximately 28 million USD (250 million rubles) USDT belonging to the sanctioned Russian cryptocurrency exchange Garantex, leading to the suspension of operations on that platform. Garantex stated in an official announcement that it has temporarily ceased operations and closed withdrawal functions, and its website is currently under maintenance. This freezing action occurred following the European Union's implementation of a new round of sanctions against Garantex on February 26. Garantex warned users that "all USDT in Russian wallets are currently at risk." The platform emphasized that it will not give up and will continue to fight. Garantex has been on the sanctions list of the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) since April 2022. Tether has not yet responded to the freezing decision.

Next news:

According to Wu, Lookonchain monitoring and Tokenomist data show that Ethena unlocked 2.07 billion ENA (worth 740.71 million USD, accounting for 39.17% of the circulating supply) yesterday. In the past two days, 12 wallets have collectively deposited 125 million ENA (worth 45 million USD) to Binance, Bybit, and FalconX.

Next news:

According to Wu's report, as monitored by Onchain Lens, a whale has withdrawn 21,259 SOL from the Kraken exchange and used it for staking. Currently, the total amount of SOL staked by this whale has reached 297,729.51 SOL, valued at approximately 43.33 million USD.

Next news:

Foresight News reports that, according to monitoring by @ai_9684xtpa, a certain whale is suspected of selling 300.9 $BTC (approximately 27.92 million USD) one hour ago, and is expected to profit about 24.82 million USD. The whale's $BTC was withdrawn from HTX six years ago, and it has been five months since the last sale.

Foresight News reports that, according to monitoring by @ai_9684xtpa, a certain whale is suspected of selling 300.9 $BTC (approximately 27.92 million USD) one hour ago, and is expected to profit about 24.82 million USD. The whale's $BTC was withdrawn from HTX six years ago, and it has been five months since the last sale.

Next news:

According to Wu's report and SoSoValue data, yesterday (Eastern Time March 5), the total net outflow of the Ethereum spot ETF was $63.32 million. Yesterday, Grayscale's Ethereum Trust ETF (ETHE) had a net outflow of $63.32 million, bringing the total historical net outflow of ETHE to $4.13 billion.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.