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Sujit Kumar
Sep 24, 2024
by Sujit Kumar

Dormant Bitcoin Whale Moves $5.1 Million BTC After 10 Years

Dormant Bitcoin Whale

Table of contents

  1. Whale Activity Continues to Rise
  2. What’s Next for Bitcoin?
A long-dormant Bitcoin whale has resurfaced, moving a significant amount of Bitcoin that had been untouched for over a decade. According to Whale Alert, "A dormant address containing 81 BTC worth $5,189,542 was activated after 10.9 years." This BTC stash, originally valued at just $44,707 in 2013, has seen an astounding 11,507% increase in value over the years.

The reasons behind the wallet's sudden activation remain unknown. The holder may be preparing to sell, discovered long-lost keys, or simply moved the stash to a more secure wallet. This move follows recent trends of dormant Bitcoin wallets waking up.

Whale Activity Continues to Rise

In addition to this whale activation, another significant transaction occurred last week, involving over 250 BTC from the "Satoshi era." Five distinct transactions, each moving 50 BTC, were made, totaling more than $13 million.

As Bitcoin's price sees minor fluctuations, with a slight 0.99% drop in the last 24 hours to $63,557, whales continue to influence the market. Spot On Chain reported that a Bitcoin whale deposited 750 BTC worth $47.9 million to Binance, likely for profit-taking. Simultaneously, another whale withdrew 1,343 BTC worth $84.8 million from the same exchange, signaling significant market activity.

What’s Next for Bitcoin?

As Bitcoin faces profit-taking after a six-day rally, these whale movements add intrigue to the market's next potential surge. Investors are closely watching how these large transactions could impact Bitcoin's price trajectory in the near future.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Dormant Bitcoin Whale
Dormant Bitcoin Whale Moves $5.1 Million BTC After 10 Years
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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