Dormant Bitcoin Whale Wakes Up to 10,419% Gain After 11 Years

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As an experienced analyst, I find this recent surge in activity from dormant Bitcoin wallets intriguing and potentially indicative of significant market movements. The fact that a wallet containing 149 Bitcoin, which was worth less than $82,000 in 2013, is now valued at over $8 million showcases the immense growth of Bitcoin’s value over the past decade.

An analytics company called Whale Alert has announced that a previously dormant Bitcoin wallet, holding 149 coins and last active in 2013, has become active once more. This wallet, originally valued at approximately $81,667 based on 2013 prices, now boasts a staggering worth of over $8.6 million due to the remarkable growth of Bitcoin since then. This represents an astounding increase in value of around 10,419%.

An inactive Bitcoin address holding approximately 149 bitcoins, equivalent to around 8.6 million US dollars, has recently become active again after a long period of 10.6 years, which was valued at roughly 81,000 USD back in 2013.

— Whale Alert (@whale_alert) July 9, 2024

As a crypto investor, I’ve noticed some intriguing activity in the Bitcoin market recently. Two previously inactive addresses, labeled as 16vRqA and 1DUJuH, both holding 500 BTC each, sprang back to life within just a few days of each other. This unexpected movement has sparked curiosity among investors regarding potential market implications. In fact, another long-dormant address, which had been inactive for over 5 years, transferred a substantial amount of 8,000 BTC to Binance – a clear indication of significant market shifts.

Approximately 500 Bitcoins, last transferred from a wallet that had been inactive since 2012, were moved to several new addresses. These Bitcoins, initially acquired on July 14, 2012, when their worth was below $4,000, now hold a value of approximately $35 million. The individuals behind this transaction remain unidentified.

One significant occurrence was the aggregation of approximately 2,000 bitcoins, mined in 2010, into a solitary digital wallet. These bitcoins were originally valued at roughly $600; however, their worth has since escalated to an estimated $140 million. The CEO of CryptoQuant, Ki Young Ju, posits that these transactions could indicate a “sell-side liquidity crunch,” possibly instigated by the demand from newly introduced Bitcoin ETFs in the US financial market.

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2024-07-10 05:56