U.Today – According to data shared by popular blockchain tracking service Whale Alert, less than two hours ago, a dormant address was reactivated after nearly a dozen years of inactivity.
This whale has seen its BTC stash skyrocket from a value of just $14,202 over all those years.
The ancient Bitcoin wallet wakes up
The dormant wallet mentioned above contains 100 BTC. This amount of the world’s largest pioneering cryptocurrency is currently valued at $5,964,455, while in 2013, when this wallet was last used, it was worth just $14,202, according to the tweet.
This difference in the fiat value of this Bitcoin block means a massive increase of 41,897%.
Members of the crypto community in the comments speculated on the reason for the wallet awakening at this very moment, concluding that this whale is a “diamond holder” and is likely selling the dormant Bitcoin now to make some healthy profits.
New whales buy $855 million worth of Bitcoin on Coinbase (NASDAQ:)
As reported by U.Today, over the past month, Whale Alert reported a dozen awakenings of dormant Bitcoin wallets. Usually, these are strict Bitcoin holders, or often, these whales simply lose their private keys and suddenly can only recover them 10-13 years later.
Whale Alert reported more massive BTC transfers today: two transfers made from Coinbase, the largest cryptocurrency exchange in the United States, to new, unknown wallets. Those two transfers amounted to a total value of nearly $900 million. Each transaction involved 7,999 BTC, with a slight difference in the fiat currency equivalent: $472,800,932 and $472,800,936.
Since both anonymous wallets are brand new, it is likely that the market is witnessing the birth of two new Bitcoin whales.
On Wednesday, Bitcoin experienced a staggering 5.57% drop from $62,000 to $58,650. This was followed by a 2.64% rise, but then BTC fell again and is currently trading at $59,652.
This article was originally published on U.Today
