Solv Protocol

Foundry

Bitcoin

April

<div class="finbold">
 <p class="paragraph">A Bitcoin (BTC) address holding 1,701 BTC, worth $115.41 million, has been inactive since 2014. The 10-year dormant Bitcoin whale activated its ancient address to make a 50 BTC transaction on April 6, Saturday.</p>
 <p class="paragraph">Interestingly, this is a legacy Bitcoin wallet address, identifiable through the ‘1’ on its beginning, as in ‘1CLxm…1oeUZ‘. Previously, the <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> spent 2,570 BTC on February 18, 2014, worth $1.60 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> with Bitcoin priced at $625.</p>
 <p class="paragraph">It then became inactive for the following 10 <a rel="noopener noreferrer nofollow" title="years" href="https://thebittimes.com/tag/years.html">years</a>, having received 4,272.29 BTC total, throughout its history. If kept, these total receivings would now be worth nearly $300 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Ethereum at 3-year low vs. Bitcoin; Is the flippening over? <span class="self-center text-xs text-slate-500">19 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Solv Protocol introduces a reward system and reveals airdrop plans <span class="self-center text-xs text-slate-500">22 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    3 cryptocurrencies to avoid trading next week <span class="self-center text-xs text-slate-500">23 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bhutan increases Bitcoin mining power 6x ahead of BTC halving <span class="self-center text-xs text-slate-500">23 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph"><em>Whale Alert</em> spotted this 10-year dormant Bitcoin <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> activity, posting the alert on X (formerly Twitter). Finbold then retrieved on-chain data on <em>mempool.space</em> and BTC price history on the <em>TradingView</em> index for this report.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="648" src="https://cdn.thebittimes.com/images/2024/04/06/d8d357fe2feb1205fe22551ad70b5396.webp" alt class="wp-image-166910" srcset="https://cdn.thebittimes.com/images/2024/04/06/d8d357fe2feb1205fe22551ad70b5396.webp 1024w, https://cdn.thebittimes.com/images/2024/04/06/d8d357fe2feb1205fe22551ad70b5396.webp 300w, https://cdn.thebittimes.com/images/2024/04/06/d8d357fe2feb1205fe22551ad70b5396.webp 768w, https://cdn.thebittimes.com/images/2024/04/06/d8d357fe2feb1205fe22551ad70b5396.webp 1536w, https://cdn.thebittimes.com/images/2024/04/06/d8d357fe2feb1205fe22551ad70b5396.webp 1780w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin Whale Address: 1CLxmHRhoi9VpSj5QihqPEdbhLL8E1oeUZ. Source: <em>mempool.space</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-bitcoin-whale-activity-after-a-10-year-dormancy">Bitcoin whale activity after a 10-year dormancy</h2>
 <p class="paragraph">Notably, Foundry USA added the activation transaction to block height 837,959, which has only three confirmations, as of writing. The dormant Bitcoin whale paid 0.00001374 BTC worth $0.93 in fees to send its transaction.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="412" src="https://cdn.thebittimes.com/images/2024/04/06/66c2cd951a87dfa14d31370d7715dd25.webp" alt class="wp-image-166911" srcset="https://cdn.thebittimes.com/images/2024/04/06/66c2cd951a87dfa14d31370d7715dd25.webp 1024w, https://cdn.thebittimes.com/images/2024/04/06/66c2cd951a87dfa14d31370d7715dd25.webp 300w, https://cdn.thebittimes.com/images/2024/04/06/66c2cd951a87dfa14d31370d7715dd25.webp 768w, https://cdn.thebittimes.com/images/2024/04/06/66c2cd951a87dfa14d31370d7715dd25.webp 1296w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Transaction: ef397c983a54d04aeb121636ac3e48b9ce29a3da2a86d2be7047c989fa5653be. Source: <em>mempool.space</em>
  </figcaption>
 </figure>
 <p class="paragraph">Moreover, the 10-year dormant legacy address used a UTXO of 245.99 BTC to send its most recent transaction. In particular, sending 50 BTC to another legacy address ‘1PRRE…sGjRo‘, just activated for the first time.</p>
 <p class="paragraph">Next, the whale received the 195.98 BTC change in a modern SegWit address ‘bc1qg…fxrk7‘, which suggests a wallet update.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="521" src="https://cdn.thebittimes.com/images/2024/04/06/4fd39632b023c6c72fa24f5af2021922.webp" alt class="wp-image-166912" srcset="https://cdn.thebittimes.com/images/2024/04/06/4fd39632b023c6c72fa24f5af2021922.webp 1024w, https://cdn.thebittimes.com/images/2024/04/06/4fd39632b023c6c72fa24f5af2021922.webp 300w, https://cdn.thebittimes.com/images/2024/04/06/4fd39632b023c6c72fa24f5af2021922.webp 768w, https://cdn.thebittimes.com/images/2024/04/06/4fd39632b023c6c72fa24f5af2021922.webp 1132w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Transaction flow. Source: <em>mempool.space</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="what-does-it-mean-for-bitcoin-investors">What does it mean for Bitcoin investors?</h2>
 <p class="paragraph">At this point, Bitcoin investors should monitor this 10-year-old Bitcoin <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> to avoid a surprising sell-off. Cryptocurrency <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>s can have a significant influence on price if they decide to sell their coins.</p>
 <p class="paragraph">However, we still do not have enough information to conclude whether this is a simple balance management activity, or something else. This Bitcoin whale could be finally looking to realize some profits 10 years later, which may encourage others to follow.</p>
 <p class="paragraph">Dormant whale activity is a valuable market indicator to consider while making investment decisions, potentially signaling a bearish sentiment is rising.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dormant-bitcoin-whale-activates-after-10-years-with-100-million-tbt84645.html">https://thebittimes.com/dormant-bitcoin-whale-activates-after-10-years-with-100-million-tbt84645.html</a></p>

Dormant Bitcoin whale activates after 10 years with $100 million

Table of Contents

TheBitTimes

Other articles published on Apr 6, 2024

South Korea’s Strategic Investment in AI to Revolutionize Public Services

Coinbase Secures A Restricted Dealer License in Canada

Fantom’s Andre Cronje Rebuts Solana Critics, Labels Network ‘Victim of Success’

SOL Plunges 9.25% to Hit Two-Week Low Amidst Crypto Market Downturn

Ethereum: Still bullish on ETH’s price? Here’s why you might be right

Solana Overcomes Network Congestion Challenges

Join our free newsletter for daily crypto updates!