Gamza Khanzadaev
After 10.7 years of dormancy, two Bitcoin whales are back with an astonishing profit of 49,274.2%
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On a calm Sunday morning, two dormant Bitcoin (BTC) wallets that had been abandoned for more than a decade came back to life, shocking the cryptocurrency market with their monumental activity.
According to Lookonchain's latest findings, these wallets had been inactive for exactly 10.7 years, but quickly transferred their entire holdings of 1,000 BTC, currently worth $60.9 million, within just 20 minutes. .
The wallets in question, identified as “16vRqA” and “1DUJuH,” received initial deposits of 500 BTC each in September 2013, when Bitcoin was valued at a modest $124 per coin.
Fast forward to today, and the value of these addresses has skyrocketed, with an astronomical return of 49,274.2%. In monetary terms, this was a staggering $60.8 million windfall, which equates to an impressive $5.7 million annual profit over the past 11 years.
The sudden reactivation of these dormant BTC whales has sparked intense speculation within the crypto community. Many analysts speculate that such a move could signal a significant shift in market sentiment.
Bearish?
Interestingly, despite the large profit margins, the owners of these wallets are choosing to transfer their assets to private wallets rather than cashing out through exchanges, leaving their motives mysterious. Added layers.
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Historically, the emergence of long-dormant Bitcoin holders has often been interpreted as a bearish signal indicating a potential sell-off to take profits. However, the unique circumstances surrounding these ancient wallets have the market eagerly anticipating their next move.
About the author
Gamza Khanzadaev
