Dormant Bitcoin Wallet Holding $2.6M Revives After a Decade
02.10.2024 8:30 1 min. read Alexander Stefanov
A long-dormant Bitcoin wallet has been reactivated after more than 10 years, sparking interest in the crypto community.
Whale Alert, a platform that tracks blockchain transactions, reported that an address holding 41 BTC, valued at over $2.6 million, suddenly became active after nearly 11 years of inactivity, transferring its entire balance to another wallet.
Interestingly, this address stayed inactive throughout Bitcoin’s major price surges, making the recent transfer a notable event tied to Bitcoin’s shifting market cycles.
Ki Yong Joo, CEO of CryptoQuant, recently explained the phases of Bitcoin’s market evolution. He described how older whales tend to reactivate their holdings first, followed by the emergence of new whales who later transition into retail investors.
Eventually, these retail holders mature into long-term players in the market. Joo also highlighted that Bitcoin inflows to exchanges remain steady, a contrast to previous bear market trends.
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