Long-Dormant Bitcoin Whales Resurface, Moving Millions After Years of Inactivity

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Cryptodnes2024/11/03 09:44

By:Cryptodnes

After years of inactivity, a once-silent crypto whale has suddenly stirred, transferring a significant amount of Bitcoin (BTC), as noted by on-chain monitoring.

Data from Whale Alert reveals that a wallet untouched for over 12 years has suddenly come to life, transferring 159 BTC valued at approximately $11.75 million.

This wallet initially received a deposit of 759 BTC in September 2012, which cost just $7,974—equivalent to an average BTC price of around $10.50.

Following years of holding, this whale moved a portion of its BTC, marking gains exceeding 700,000%.

Here is What’s Behind Bitcoin’s Success, According to Crypto Expert

Currently, the wallet still contains 590 BTC, with an estimated value of $40.9 million.

Other long-dormant crypto wallets have also seen renewed activity recently. One wallet, inactive for over 13 years, transferred its entire holding of 20 BTC.

Whale Alert has observed an increasing trend of these long-forgotten wallets re-entering the Bitcoin market.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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