Seized Coin Makes Its Way Back To The Market

As part of the early 2014 capture of Bitcoin that was used to fund illegal activities, the United States Marshall’s Service has put the coin back to the public through auction, as is the standard procedure for any public auctions.

The bid is for a large volume of coin, and is being watched by some pre-qualified buyers who plan to make a move for the coin when it is released. The volume of the coin is 50,000 Bitcoins, which analysts are predicting will have very little to no effect on the overall trading since the volume has been large enough to absorb recent buys of the coin during these selloff auctions.

The Marshall’s will still have 94,000 coins in their vault, which they will be distributing over the coming months, giving new buyers an opportunity to get in on the market. The daily trading averages across the other buying exchanges have been bouncing between 30,000 to 50,000 coins being moved per day, for approximately 20 Million USD, while the price of coin has a weekly moving average mostly between $370 and $380 USD per coin. View more charts at Kitco.

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