thecryptobasic.com
A Bitcoin wallet, inactive since 2013, has recently been reactivated, drawing attention across the cryptocurrency community.
The wallet, containing 100 BTC, was last active over a decade ago, during which Bitcoin’s value was a fraction of its current worth. Now, with the wallet’s reactivation, the Bitcoin it holds is valued at approximately $5.96 million, highlighting the dramatic rise in Bitcoin’s price over the years, particularly over 40,000% at the current rate.
When the wallet was last active in 2013, the 100 BTC it held was worth just $14,202, a stark contrast to its current value of approximately $5.96 million, illustrating the dramatic increase in Bitcoin’s price over the past decade.
💤 A dormant address containing 100 #BTC (5,964,455 USD) has just been activated after 11.4 years (worth 14,202 USD in 2013)!https://t.co/r5GvC0ktdi
— Whale Alert (@whale_alert) August 29, 2024
Specific Transactions and On-Chain Data
According to Whale Alert, the reactivated wallet completed several transactions, including transfers of 1 BTC and 98.99 BTC. These transactions suggest that large holders may be moving their Bitcoin, potentially for withdrawal purposes. The reactivation of this wallet coincides with notable on-chain data trends.
Data from IntoTheBlock reveals patterns among different categories of Bitcoin holders, segmented by the time they have held their assets. Addresses holding Bitcoin for over a year, referred to as “Hodlers,” have increased steadily, reflecting strong long-term conviction.
Over the past 30 days, these addresses saw a slight increase of 0.43%. Meanwhile, “Cruisers,” or those holding Bitcoin for 1 to 12 months, showed a moderate growth of 0.97%, indicating a shift towards longer-term holding. In contrast, “Traders,” who have held Bitcoin for less than a month, have declined by 1.72%, suggesting an exit by short-term holders.
Recent Whale Activities
This reactivation follows a trend of dormant Bitcoin whales coming back to life. On July 4, another dormant wallet, holding 119 BTC worth approximately $6.99 million, became active after 12.4 years. The wallet, which was initially worth just $599 in 2012, conducted multiple transfers during its reactivation, adding to the narrative of shifting investor behaviors in the crypto market.
Additionally, in June, an 8K BTC movement from a wallet inactive for 5.5 years was reported. This transfer included funds sent to Binance, KuCoin, Bybit, and Gate.io, likely signaling an intent to sell. Furthermore, 150 BTC was moved to Wintermute, an algorithmic trading firm, and three sums of 882 BTC were transferred to unknown addresses, indicating ongoing activity among large Bitcoin holders.