A Bitcoin address that had been inactive for 12 years suddenly transferred nearly $11 million worth of Bitcoin. The transaction was first reported by Whale Alert, a Twitter account that tracks large cryptocurrency transactions. The address in question had last been used in 2011, when Bitcoin was worth just a few cents per coin. It is unclear why the address was reactivated after so many years, but it is possible that the owner was simply looking to cash out some of their Bitcoin profits. The transaction is a reminder of the long-term potential of Bitcoin as an investment. Despite its volatility, Bitcoin has appreciated in value by over 100,000% since its creation in 2009.
The Bitcoin address that had been dormant for 12 years sent 400 bitcoins in batches of 100 to another address. The total value of the transaction was $10.9 million. The transfer transaction fee was 19 thousand satoshis, or $5.22.
Here is a more detailed explanation of the transaction:
- The address in question sent 400 bitcoins in total.
- The bitcoins were sent in batches of 100.
- The total value of the transaction was $10.9 million.
- The transfer transaction fee was 19 thousand satoshis, or $5.22.
The Bitcoin wallet in question had not been used since 2011. In that year, the wallet received 900 bitcoins worth around $4,300 and then 100 bitcoins worth $480.
Here is a more detailed explanation of the wallet’s history:
- The wallet was created in 2011.
- In 2011, the wallet received 900 bitcoins worth around $4,300.
- In 2011, the wallet received 100 bitcoins worth $480.
- The wallet has not been used since 2011.
In recent months, there has been a trend of long-dormant Bitcoin wallets springing back to life. In February, a Bitcoin whale address that had been dormant for over nine years transferred 2,071.5 BTC ($60.7 million) out. During the time, another whale awoke after a decade of inactivity, transferring 279 bitcoins — worth $7.8 million — to three fresh addresses.
There are a few possible reasons for this trend. One possibility is that investors are becoming more confident in the long-term prospects of Bitcoin. Another possibility is that investors are looking to take advantage of the recent price rally. Whatever the reason, the trend of long-dormant wallets springing back to life is a sign that the Bitcoin market is still active and vibrant.
On Thursday, April 28, 2023, a Bitcoin whale address that had been dormant for over nine years transferred 2,071.5 BTC ($60.7 million) out. The next day, Friday, April 29, 2023, another whale awoke after a decade of inactivity, transferring 279 bitcoins — worth $7.8 million — to three fresh addresses.
These transactions are significant because they suggest that there is still significant interest in Bitcoin, even among investors who have been holding their coins for many years. It is also possible that these transactions are a sign that investors are expecting the price of Bitcoin to increase in the near future.
Only time will tell what the long-term implications of these transactions will be. However, they are certainly a sign that the Bitcoin market is still active and vibrant.
The wake-up of dormant crypto wallets is not limited to Bitcoin. On May 2, 2023, a long-dormant Ethereum address that participated in the blockchain’s initial coin offering, or ICO, awoke after over seven years. The wallet transferred one ether to a new address.
The wallet in question was created in 2015 and received 100 ETH during the Ethereum ICO. The wallet has not been used since 2016. The recent transaction is the first time the wallet has been used in over seven years.
The reason for the transaction is unknown. It is possible that the owner of the wallet simply wanted to check on their investment. It is also possible that the owner of the wallet is planning to sell their ETH.
Only time will tell what the long-term implications of this transaction will be. However, it is certainly a sign that the Ethereum market is still active and vibrant.
