This week, the cryptocurrency market saw significant movements, with Bitcoin (BTC) experiencing a notable drop of 8.50%. This decline appears against the backdrop of the commencement of Mt. Gox’s reimbursement of its creditors with over 140,000 BTC, worth approximately $8.5 billion. According to a Telegram group of Mt. Gox creditors, the repayments began on July 23, with Bitcoin and Bitcoin Cash being distributed via the Kraken crypto exchange. Meanwhile, Solana (SOL) saw the biggest percentage increase of 8.81%. This surge can be attributed to positive developments in the Solana ecosystem as the number of new addresses on the Solana network has reached a new record, indicating robust user growth and increased adoption. More users and addresses typically lead to higher transaction volumes and greater demand for SOL, supporting its price increase.
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