Bitcoin Cash price experienced a 5% decline as a result of escalating Mt. Gox creditors’ withdrawals on the Kraken exchange. The repayment program initiated by Mt. Gox led to Kraken receiving a substantial amount of BTC, which was subsequently distributed to the victims. David Ripley, the CEO of Kraken, confirmed the successful dispersal of assets to creditors from their platform. As a consequence of this distribution, creditors began withdrawing their Bitcoin Cash (BCH) and BTC from Kraken. Additionally, Mt. Gox transferred a significant amount of BTC to the Bitstamp exchange, further impacting market prices. Consequently, the BCH price has dropped to $368 within the past 24 hours.
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Bitcoin Cash Price Slides 5% on Escalating Mt. Gox Creditors Kraken Withdrawals
