664k BTG Split & Moved For a First Time

This event can have huge impact on the Bitcoin Gold price
22 February 2018   2608

On February 20, an unknown user released 664,000 BTG coins that had been lying motionless since the launch of the Bitcoin Gold network last fall. This could lead to the largest one-stage increase in the BTG market for the whole short history of the existence of the "new digital gold". This is reported by CCN.

Bitcoin Gold crypto currency was formed as a result of the harsh press, held on October 24 last year. The network wasn't launched immediately, but several weeks after the completion of the premiere.

The holders of bitcoin have the opportunity to obtain an equivalent number of BTG coins. Many hastened to take the necessary action to obtain new coins in the first weeks. However, in all likelihood, not all holders of large amounts in the crypto currency have done this.

Below is a graph that illustrates the dynamics of obtaining BTG coins by bitcoin holders (forks. network):

Amount of coins moved on each side
Amount of coins moved on each side

One of the engineers of the Blockchain, who created the forks.network, connects this transaction to the bitcoin-service Xapo. In his opinion, the action was committed on the initiative of one of the institutional clients of the popular service.

It remains a mystery why this unknown cryptoinvestor did not extract the BTG coins before and did not sell them when the Bitcoin Gold market rate reached a mark above $ 400. Currently, the weighted average rate of BTG is around $ 125.

Bitcoin Gold crypto currency can not now be called a highly liquid altcoyin. According to the volume of market capitalization, the coin is on the 20th place of the Coinmarketcap rating, and the daily trading volume of BTG hardly exceeds $ 40 million.

The current value of the above 664,000 coins is $ 82.7 million. Thus, the sudden release of Bitcoin Gold coins to the market is unlikely to have a positive effect on the course of this relatively young crypto currency.

OKEx to Delist Bitcoin Gold Futures

As the reason for this decision, it is called the “insufficient liquidity” of this financial instrument 
21 January 2019   1539

OKEx reported on the imminent delisting of all Bitcoin Gold (BTG) futures contracts, including weekly, two-week and quarterly contracts. As the reason for this decision, the exchange refers to the “insufficient liquidity” of the financial instrument.

All BTG futures contracts will be calculated on 9am, Jan 25, 2019 (CET, UTC+1) in accordance with the price fixed in the BTG / USD index on OKEx an hour before.

In addition, on January 30, all data on BTG futures trading will be deleted, and therefore the exchange recommends that users who may need this data download them in advance.

Bitcoin Gold separated from the main bitcoin blockchain in November 2017. Last May, the cryptocurrency network was attacked by 51%, during which 388,000 BTG (about $ 18 million) were stolen from several exchanges. Currently, Bitcoin Gold is the 27th largest cryptocurrency with a capitalization of $ 195 million.