Wallet inactive for 10 years transfers $7,8 million worth of bitcoins

The address contained a total of 1128 coins

21.04.2023 - 15:45

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3 min

What’s new? On April 21, a large holder of the first cryptocurrency transferred 279 BTC (~$7,8 million) from his wallet to three new addresses. The wallet had been inactive for 10 years, receiving 1128 bitcoins (~$31,7 million) in October 2012 and May 2013, when the value of the asset was $12 and $195 respectively, blockchain analysts at Lookonchain report.

A whale with 1,128 $BTC($31.6M) that has been dormant for 10 years transferred 279 $BTC($7.8M) to 3 new addresses just now.The whale received 1,128 $BTC in October 2012 and May 2013, when prices were $12 and $195.https://t.co/2MxnVzcEMl pic.twitter.com/2GM7Oq4e2P
— Lookonchain (@lookonchain) April 21, 2023

What happened before? On April 20, a wallet inactive for 9 years transferred 2071,5 BTC ($60,7 million at the time) to an unknown address beginning with “bc1q.” The large investor had previously only been active on December 19, 2013.

According to the Glassnode service, at the end of February, the number of bitcoins that have not been used in more than 10 years exceeded the total amount of assets on all crypto exchanges — 2,6 million BTC worth $74,69 billion.

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The user bought most of the coins on March 11 at the rate of $1420

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By the end of April, Glassnode analysts reported a rise in the number of active addresses on the Bitcoin network and highlighted it among the indicators of the end of the bear crypto market. And an anonymous Bitcoin analyst found that $60 million worth of bitcoins was withdrawn from exchanges in the last 24 hours. In his opinion, this could have a negative impact on the asset’s rate.

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