It appears the German government’s ultimate goal for its Bitcoin holdings is total liquidation as the authorities have continued its massive BC sell-offs, bringing its overall reserve below 5,000 BTC. These large-scale transactions are part of the government’s robust endeavor to dump the BTC that was originally seized in conjunction with multiple criminal investigations, especially Movie2k.

Over 90% Of Bitcoin Sold From The German Government’s Holdings

In a recent wave of transactions cited by popular intelligence platform Arkham, the German government has carried out another massive Bitcoin sell-off, causing larger speculation about the strategy. Data from the platform shows that the authorities moved over 5,000 BTC, valued at $286 million, to Flow Traders, Coinbase, Kraken, and Bitstamp, and the wallet addresses 139Po and bc1qu.

It is worth noting that 4 hours prior to these transactions, the government executed a series of transfers to the address 139Po (either an institutional deposit or over-the-counter service), Cumberland, Coinbase, Bitstamp, and Kraken. Arkham revealed a staggering 3,250 BTC, worth $191 million was transferred to the cryptocurrency exchanges.

On Thursday, the overall amount of Bitcoin reported by the platform to have been sold by the authorities to marker makers and crypto exchanges was approximately 10,627 BTC worth $615 million. As a result, the government reserves now hold about 4,925 BTC, which is just 9.9% of the total Bitcoin that was originally seized from the operator of Movie2k.

These actions from the government ignited a lot of discussion within the crypto space, with several top figures blasting the nation for its ongoing BTC liquidation strategy. Earlier this week, Vivek Sen, a reporter at the Bitcoin Magazine and founder of Bitgrow Lab criticized the authorities calling them idiots.

According to the reporter, BTC stands to be the world’s hardest money, and the state is constantly selling it for a currency that can be manufactured out of thin air. Vivek displeased with the actions went as far as to call the German government officials literal idiots.

BTC Spot ETFs Sees A 5-Day Consecutive Inflows

Although the German government has been selling BTC at a large scale, thereby triggering price declines, the US Bitcoin Spot Exchange-Traded Funds (ETFs) have attracted significant inflows lately, recording 5-day straight profits. 

On Thursday, analytics platform Sosovalue reported that the US spot BTC ETFs witnessed a daily inflow of $78 million, marking their fifth consecutive inflow. Data from Sosovalue shows that BlackRock ETF IBIT and Fidelity ETF FBTC recorded a daily inflow of $72 million and $32 million respectively. Meanwhile, the Grayscale ETF GBTC saw another day of outflows, amassing approximately $37 million loss.

With this Thursday’s gains, the net inflow of the BTC spot ETFs from the initial inception day, January 11, until the present now totals $15.5 billion, indicating the growing adoption and interest of the products.

Animoca Brands, in collaboration with Moca Network, has unveiled the MOCA token, marking a significant milestone in the evolution of the Web3 landscape. The MOCA token, designed to offer unique utilities, is now live on Bitget’s exchange, opening up new opportunities for users in the metaverse and beyond.

MOCA Token Launch

The MOCA token officially launched today with a fixed supply of 8.8 billion tokens. It is listed on Bitget’s PoolX, where users can engage in stake-to-mine activities. Animoca Brands and Moca Network have also announced airdrops to further promote the token. The introduction of the MOCA Coin aims to bring revolutionary utility to the Web3 ecosystem, providing users with diverse functionalities.

MOCA Token Utility

Built on the LayerZero v2 protocol, the MOCA token serves multiple purposes within the Mocaverse. It acts as a payment currency and can be used for transaction fees, such as gas fees or identity services. Additionally, MOCA introduces a Proof-of-Loyalty system, rewarding users based on the duration of their token holdings. 
The Growth suite feature allows users to earn rewards through growth products and services by leveraging their data.

MOCA Token Cultural Representation and Governance

MOCA token’s utility extends beyond transactions and rewards. It also plays a crucial role in representing Culture across various sectors, including gaming, sports, and music. This inclusivity grants access to a broad range of community members. Furthermore, MOCA holders have Governance voting rights, enabling them to influence the development and strategic direction of the Mocaverse platform.

MOCA Token Tokenomics

The MOCA tokenomics is designed to balance the token release based on the expected growth of the network in partners and user base, and the Foundation's operational needs. More than 50% of the total token supply goes directly to the community, and the rest is allocated for operations for MOCA and the foundation, strategic partners, and team. 

In detail, the distribution of MOCA tokens is meticulously planned to support network incentives (31.5%), ecosystem and treasury (20%), and strategic partners (13%). Additional allocations include team (10%), liquidity purposes (10%), LC and advisors (7%), operational expenses (5%), and community sale (1.5%).

Since its launch, the MOCA Coin has shown positive price movements, mirroring the overall recovery trend in the crypto market, including Bitcoin and Ethereum.

MOCA Listing on Bitget

Bitget, a leading cryptocurrency exchange, has listed the MOCA Token on its spot market under the Metaverse and GameFi Zone. This listing provides users with an opportunity to accumulate Bitget Token (BGB) by depositing MOCA tokens. The Candybomb event offers users a chance to win from a pool of 100,000 BGBs. Previously, Bitget facilitated pre-market activities where users could place buy and sell bids ahead of MOCA’s initial launch.

The launch of the MOCA token by Animoca Brands and Moca Network is set to transform the Web3 space, offering unprecedented utility, governance, and cultural representation. With its fixed supply, strategic distribution, and innovative use cases, MOCA Coin is poised to become a cornerstone of the Mocaverse ecosystem, driving growth and engagement across various sectors.