Dormant Bitcoin Wallet Awakens, Transfers Millions in Record-breaking Move
After a decade of dormancy, a significant amount of bitcoins, totaling 1,432.93, equivalent to $37.8 million, was transferred from a dormant wallet to a new address.
According to on-chain analyst Lookonchain, the aforementioned address first received bitcoins on April 9, 2013, when the cryptocurrency was valued at a mere $195.40 per coin.
A BTC whale that has been dormant for 10.2 years transferred all 1,432.93 $BTC($37.8M) to a new address”bc1psv” 5 mins ago.
The whale received 1,432.92 $BTC on Apr 9, 2013, when the price was $195.4.https://t.co/17R0UqEBKC pic.twitter.com/e0LkSfn5t3
— Lookonchain (@lookonchain) June 8, 2023
This recent transfer is part of a series of similar movements witnessed in recent months.
For instance, on April 24, a Bitcoin address that had remained inactive for 12 years suddenly transferred close to $11 million worth of bitcoins to another address.
READ MORE: Binance.US Responds to SEC Charges: Delists Trading Pairs, Pauses OTC Trading
Shortly thereafter, another whale address moved nearly $61 million in bitcoins after a period of nine years of inactivity, while a separate wallet transferred 279 bitcoins after a decade.
Additionally, on the same date, an Ethereum address that took part in the project’s initial coin offering re-emerged after being dormant for 7.7 years and transferred a solitary ether.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
