Cryptocurrency

Bitcoin

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-wallet-reactivated-after-over-a-decade-of-inactivity" rel="noopener noreferrer nofollow">Bitcoin Wallet Reactivated After Over a Decade of Inactivity</a><br></p>
<p style="text-align: justify">A previously dormant <a href="https://en.bitcoinhaber.net/bitcoin-soars-beyond-72000-as-top-analyst-predicts-surge-to-new-heights" rel="noopener noreferrer nofollow">Bitcoin</a> wallet has reawakened, causing waves in the <a href="https://en.bitcoinhaber.net/artificial-intelligence-a-game-changer-in-legal-proceedings" rel="noopener noreferrer nofollow">cryptocurrency</a> community by moving about 500 Bitcoin, now worth around $35 million, into multiple new wallets. This event follows similar activities involving ancient, massive Bitcoin wallets.</p>
<h2 id="surge-in-bitcoin-wallet-activity">Surge in Bitcoin Wallet Activity</h2>
<p style="text-align: justify">The wallet in question first amassed Bitcoin back in mid-2012 when the value of the cryptocurrency was under $8, implying the original investment was a mere $4000. This transaction has culminated in a multi-million dollar gain for the owner. The crypto community is buzzing with theories about the entity or individual behind this sudden cash-out and their possible reasons.</p>
<p style="text-align: justify">Notably, this week witnessed the consolidation of 2000 Bitcoin, mined in 2010 and initially worth $600, into a single wallet address. Their current combined value has skyrocketed to roughly $140 million. Additionally, the weekend saw a colossal $6 billion worth of Bitcoin transferred from the fifth-largest Bitcoin wallet to three new addresses. These transactions highlight the market’s volatility and the value of a long-term perspective on Bitcoin holdings.</p>
<p style="text-align: justify">Some market analysts, including CryptoQuant CEO Ki Young Ju, speculate that these mass movements may signal an impending “sell-side liquidity crisis” due to the rising demand for new Bitcoin ETFs in the U.S.</p>
<h2 id="rising-interest-in-cryptocurrency-exhibited">Rising Interest in Cryptocurrency Exhibited</h2>
<p style="text-align: justify">In a separate incident, 26.9 Bitcoin were sent from an address seemingly associated with <a href="https://en.bitcoinhaber.net/revolutionizing-crypto-futures-binance-launches-usdc-margined-contracts-with-125x-leverage" rel="noopener noreferrer nofollow">Binance</a> to the original Bitcoin network address, permanently removing them from circulation. Such actions, coupled with the revival of old wallets, point to an intensifying interest in the cryptocurrency market. As Bitcoin gains further traction, large transactions are becoming increasingly prominent, reflecting the ecosystem’s maturation and providing market insights for investors and analysts alike.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-wallet-reactivated-after-over-a-decade-of-inactivity" rel="noopener noreferrer nofollow">Bitcoin Wallet Reactivated After Over a Decade of Inactivity</a></h5>

Bitcoin Wallet Reactivated After Over a Decade of Inactivity

Table of Contents

BH NEWS

Other articles published on Mar 30, 2024

Here Are The Top Crypto Predictions Following The Bitcoin Halving In April 2024

April’s Unlock Saga: Analyzing the Impact of Token Releases on Crypto

Dogwifhat reaches a new all-time high as whales reluctant to sell

SEC Postpones Grayscale’s Ethereum ETF Application; FLOKI vs. WIF Market Size

Shiba Inu (SHIB) may grow by 15%

Pepe Coin Surges Forward in Memecoin Market Arena

Join our free newsletter for daily crypto updates!