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According to on-chain data, a dormant Bitcoin wallet that had been abandoned for more than 10 years has suddenly come back to life.
Blockchain data tracker Whale Alert reported that “a dormant address containing 150 BTC ($9,831,428) has been activated for the first time in a decade and a half.”
This activation follows a growing trend of ancient Bitcoin wallets being reawakened in recent weeks, sparking curiosity and speculation within the cryptocurrency community.
Dormant wallets, especially those holding large amounts of Bitcoin, are tied to early adopters and miners who acquired or mined BTC when the cryptocurrency was worth a fraction of its current price. This often happens.
Although the identity of the wallet owner remains unknown, the awakening of such dormant addresses often fuels speculation. One wonders whether these long-term holders are cashing out, preparing to sell, or moving their assets to safer ground in response to broader market movements. There are some people.
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The recent surge in dormant wallet activity highlights the huge profits achieved by early Bitcoin holders. What was once a small amount is now a huge amount. Their developments will continue to be closely monitored as more ancient whales re-enter the market.
Bitcoin price fluctuation
At the time of writing, BTC was up 0.48% in the past 24 hours to $65,806. Bitcoin hit a high of $66,550 on Friday, its highest level since early August.
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Bitcoin has risen 56% in 2024, helped by inflows into US Bitcoin exchange-traded funds (ETFs), but remains below March's record of $73,798. BTC has gained nearly 11.31% this month, compared to an average decline of 5.9% in September over the past 10 years.
The largest cryptocurrency by market capitalization posted its highest percentage gain on record in September as a wave of global interest rate cuts led by the U.S. Federal Reserve helps break the seasonal jinx. There is.
