A long-dormant Bitcoin wallet, which held a significant sum of 1,432.93 bitcoins valued at $37.8 million, has recently transferred its funds to a new address.
This move comes after more than a decade of inactivity, attracting attention within the cryptocurrency community. The wallet first received bitcoin back in April 2013, when the price per coin was a mere $195.40, as observed by on-chain analyst Lookonchain.
This transfer is part of a series of similar movements witnessed in recent months, involving other long-idle addresses in the cryptocurrency space.
Dormant wallet transfers $37.8 million worth of Bitcoin. After remaining inactive for over 10 years, a wallet containing a substantial amount of 1,432.93 bitcoins recently initiated a transfer to a new address.
The total value of the transferred bitcoins amounts to an impressive $37.8 million, catching the attention of cryptocurrency enthusiasts and analysts alike.
Bitcoin Address Receives Initial Coins During the Early Days: The dormant wallet initially received bitcoin on April 9, 2013, when the price per coin was a modest $195.40.
This fact, highlighted by on-chain analyst Lookonchain, underscores the significant appreciation of Bitcoin’s value over the years and the potential gains realized by the wallet’s owner.
Surge in Activity from Dormant Addresses: This latest transfer is part of a growing trend involving dormant addresses suddenly becoming active and initiating large-scale transactions.
On April 24, another Bitcoin whale address, inactive for 12 years, transferred nearly $11 million worth of Bitcoin to another address.
Days earlier, a different dormant wallet moved approximately $61 million in Bitcoin after nine years of inactivity.
Furthermore, a separate address transferred 279 bitcoins after remaining inactive for a decade. These occurrences have piqued interest and speculation regarding the motivations and identities behind these dormant wallets.
Ethereum Address Awakens After Years of Inactivity: Alongside the Bitcoin activity, there have been notable instances within the Ethereum ecosystem.
On April 24, an Ethereum address that had remained dormant for 7.7 years suddenly became active. This address, associated with the project’s initial coin offering (ICO), executed a transaction involving a single ether.
This awakening of a long-idle address adds to the intrigue and raises questions about the potential reasons behind such movements.