U.Today – The quiet Sunday morning was interrupted, when two dormant (BTC) wallets, untouched for more than a decade, came to life, shaking the cryptocurrency market with their monumental activity.
According to Lookonchain's latest findings, these wallets, dormant for exactly 10.7 years, have quickly transferred all of their 1,000 BTC holdings, currently valued at a staggering $60.9 million, in just a 20-minute period. .
The wallets in question, identified as “16vRqA” and “1DUJuH”, received their initial deposits of 500 BTC each in September 2013, when Bitcoin was valued at a modest $124 per coin.
Fast forward to today, and these addresses have witnessed an extraordinary increase in value, with an astronomical profit margin of 49,274.2%. In monetary terms, this translates to a staggering windfall of $60.8 million, which is equivalent to a staggering $5.7 million profit accumulated annually over the past 11 years.
The sudden reactivation of these dormant BTC whales has sparked intense speculation within the cryptocurrency community. Many analysts suggest that such a move could mean a fundamental change in market sentiment.
Bearish?
Historically, the emergence of long-dormant Bitcoin holders has often been interpreted as a bearish signal, suggesting a possible liquidation to lock in profits. However, the unique circumstances surrounding these old portfolios have the market eagerly anticipating their next move.
This article was originally published on U.Today.
