U.Today – According to Whale Alert, a dormant address has been activated after almost 10 years.
Blockchain data tracker Whale Alert reports that a wallet containing 25 BTC has just been activated after 10.6 years. The value of the Bitcoin stash held in this wallet was $20,399 in 2013. This has since skyrocketed to a staggering $1,569,552, marking an impressive gain of 7,594%.
Several dormant Bitcoin wallets have been reactivated in recent weeks. In the past 24 hours alone, a wallet containing 1,000 BTC that had been dormant for 11.8 years was reactivated.
The value of BTC in this particular wallet has skyrocketed from $11,908 in 2012 to a staggering $59,989,823. In another similar move, a Bitcoin wallet containing 25 BTC that had also held this stash for 10.6 years was reactivated on July 13.
Probable reasons
The activation of this long-dormant address has sparked curiosity and speculation in the cryptocurrency community. The sudden reactivation of the long-dormant wallet raises questions about the identity of the wallet holder and their reasons for reactivating the address after such a long period of inactivity.
It is worth noting that the reactivation of this wallet comes at a time when Bitcoin is experiencing bullish momentum. Bitcoin rose to intraday highs of $63,393 after soaring for three consecutive days.
This suggests that the activation of the wallet could have been a strategic move to take advantage of the current bullish market momentum. Perhaps the owner had to wait for the Bitcoin price to appreciate, keeping it in place for a significant number of years. Another scenario could be a long-lost wallet whose keys had just been rediscovered. However, the exact motive in this particular context remains unknown.
At the time of writing, BTC was up 5.39% over the past 24 hours to $63,000.
This article was originally published on U.Today
