2024

Bitcoin

when

Whale Alert, an analytics firm has reported that a notable address which had been inactive since 2013 and contained 149 Bitcoin, has resumed activity. This wallet, originally valued at $81,667 now worth an astonishing $8.6 million due to Bitcoin’s exponential growth over the years, showcasing a gain of 10,419%. 
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 💤 A dormant address containing 149 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BTC</a> (8,590,673 USD) has just been activated after 10.6 years (worth 81,667 USD in 2013)!<a href="https://t.co/oL0l1mbVlr" target="_blank">https://t.co/oL0l1mbVlr</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1810722932252959005?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 9, 2024</a>
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These reactivated addresses, including two identified as 16vRqA and 1DUJuH, each containing 500 BTC, resumed operations within days of each other. This recent activity has shifted attention to the potential market effects as large amounts of Bitcoin are moved after being inactive for years. For example, another address that had been dormant for 5.5 years transferred 8,000 BTC to Binance, indicating significant market movements. 
In a transaction, a wallet <a href="https://www.cryptotimes.io/2024/03/30/dormant-bitcoin-wallet-activates-transfers-500-btc/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/03/30/dormant-bitcoin-wallet-activates-transfers-500-btc/" rel="noreferrer noopener">inactive for nearly 12 years moved 500 BTC</a> to multiple new addresses. The original acquisition of these bitcoins dates back to July 14, 2012, when the total value was less than $4,000. The current value of these bitcoins is just under $35 million, though the identities of the parties involved remain undisclosed. 
Another noteworthy event was consolidating 2,000 bitcoins, mined in 2010, into a single wallet. Initially valued at approximately $600, these are now worth around $140 million. CryptoQuant CEO Ki Young Ju suggests these movements may signal a “sell-side liquidity crisis,” potentially driven by the demand from new Bitcoin ETFs in the U.S. market. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/06/two-whales-deposit-9500-btc-to-binance-since-june-27/" target="_blank" rel="noreferrer noopener">Two Whales Deposit 9,500 BTC to Binance in a week</a> 
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Dormant Bitcoin Whale Wakes Up to 10,419% Gain After 11 Years

The Crypto Times

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