An ancient Bitcoin whale has recently come out of a nearly 11-year slumber, sparking excitement in the cryptocurrency community. According to Whale Alert, a blockchain tracking bot, a dormant wallet containing 100 BTC, worth less than $100,000 in 2014, has now surged in value to millions of dollars.
The sudden awakening of this whale wallet has been attributed to Bitcoin’s remarkable price increase over the past decade, with gains exceeding 7,222%. After lying dormant since receiving 100 BTC in January 2014, the wallet finally made a move by transferring the funds to another address.
This isn’t the first time such whale activity has been observed. Just last week, another ancient wallet containing 99 BTC, also dormant for over a decade, was activated and saw a substantial increase in value. In total, these two whales moved 199 BTC, equivalent to over $12 million.
Similar transfers have been linked to BTC miners unloading rewards from 2009. Many miner wallets that have been inactive for more than 15.5 years are now making transactions, having received 50 BTC as mining rewards per block back in 2009.
As of now, Bitcoin is trading at $61,983, showing a slight increase in the past 24 hours. The cryptocurrency market continues to be volatile, with whales and miners making unexpected moves that impact prices and market sentiment.
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Image Source: Midjourney
This article is for informational purposes only and should not be considered as financial advice. Cryptocurrency investments are inherently risky, and it is essential to conduct thorough research before making any investment decisions.