In a surprising move, a long-dormant Bitcoin wallet recently transferred its holdings of 1,432.93 bitcoins, valued at $37.8 million, to a new address.
The wallet had remained inactive for more than 10 years, capturing the attention of the cryptocurrency community.
This transfer is part of a series of similar movements seen in recent months, as dormant wallets awaken and large sums of bitcoin are shifted to new addresses.
On-chain analyst Lookonchain noted that the original bitcoin transaction to the address took place on April 9, 2013, when each coin was worth a mere $195.40.
After more than a decade of inactivity, a significant Bitcoin wallet recently moved its holdings. The transfer involved 1,432.93 bitcoins, equivalent to a staggering $37.8 million at current prices.
The sudden activity from a long-idle wallet has sparked curiosity and speculation within the cryptocurrency community.
The address in question received its first bitcoin transaction on April 9, 2013, when the cryptocurrency was valued at just $195.40 per coin.
This event highlights the early acquisition of the bitcoins now on the move and showcases the significant appreciation of the cryptocurrency’s value over time.
The recent transfer is not an isolated incident but rather part of a growing trend. In the past few months, several dormant Bitcoin wallets have awakened, leading to substantial transactions.
On April 24, an inactive address that had been dormant for 12 years moved nearly $11 million worth of bitcoin to another address.
Shortly before that, another whale address transferred approximately $61 million in bitcoin after nine years of inactivity. Additionally, a separate wallet, after a decade of dormancy, transferred 279 bitcoins.
Ethereum Address Awakens After 7.7 Years: The dormant wallet phenomenon extends beyond Bitcoin. On April 24, an Ethereum address that participated in the project’s initial coin offering (ICO) finally stirred after a lengthy dormancy period of 7.7 years. It initiated a transfer of a single ether, capturing attention in the Ethereum community.