Mt.Gox Wallets Spring to Life After 8-Month Hibernation During Bitcoin Dip - What’s Their Next Move?

Sleeping giants stir as Bitcoin faces pressure.

The Ghosts of Crypto Past Return

Eight months of eerie silence shattered across the blockchain as Mt.Gox wallets suddenly awakened. While Bitcoin traders nervously watch charts dip, these legendary cold storage addresses just broke their long-standing dormancy.

Timing Raises EyebrowsMoving coins during price weakness either signals brilliant contrarian thinking or another chapter in crypto's endless drama. Market veterans remember Mt.Gox's history while newcomers learn why old wallets never truly die.

Another day in crypto where yesterday's problems become today's trading signals - because nothing says 'mature asset class' like watching bankrupt exchange wallets move the market.

Meet Your ETF AI Analyst

• Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
• Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.

AXTA stock jumped more than 13% in Monday’s extended trading after Bloomberg reported that the two companies were in advanced talks to merge.

The merger is expected to be completed between late 2026 and early 2027, subject to approval by both Akzo Nobel and Axalta shareholders and regulators. Akzo Nobel’s CEO, Greg Poux-Guillaume, will serve as the CEO of the merged company, while Axalta CEO Chris Villavarayan will assume the role of Deputy CEO.  

Key Insights from Axalta-Akzo Nobel Deal

Under the deal, Axalta shareholders will receive 0.6539 shares of Akzo Nobel stock for each share of Axalta common stock they own. Following the completion of the merger, Akzo Nobel shareholders will own 55% of the combined company, while Axalta shareholders will own the remaining 45%. Akzo Nobel stated that it WOULD pay a special cash dividend of 2.5 billion euros to its shareholders as part of the deal.

The merger between Akzo Nobel and Axalta will combine complementary offerings, creating an extensive portfolio with solutions across about 100 well-known brands, including Akzo’s Dulux and Interpon. The combined company will have an enhanced global presence, comprising 173 manufacturing plants and 91 research and development (R&D) facilities.

Notably, the deal is estimated to deliver pre-tax run-rate synergies of about $600 million, with 90% of synergies expected to be achieved within the first three years following the completion of the transaction. The merged company is expected to generate annual revenue of $17 billion, adjusted Core earnings (EBITDA) of $3.3 billion, and $1.5 billion in adjusted free cash flow.

Interestingly, Axalta, a former DuPont paint unit, was sold to private-equity firm Carlyle in 2013 and went public in late 2014.

Is AXTA a Good Stock to Buy?

Currently, Wall Street has a Moderate Buy consensus rating on Axalta Coating Systems stock based on seven Buys and five Holds. The average AXTA stock price target of $35.36 indicates 25.5% upside potential.