A wallet holding a large bitcoin sum transferred its 1,432.93 bitcoins — worth $37.8 million — to a new address after more than 10 years of inactivity.
The address initially received bitcoin on April 9, 2013, when the price was only $195.40 per coin, on-chain analyst Lookonchain noted.
The price of bitcoin is down more than 3% on Coinbase over the past week. Source: TradingView
This latest transfer follows a slew of similar movements over recent months.
On April 24, a bitcoin whale address that hadn’t been active for 12 years transferred nearly $11 million in bitcoin to another address. That movement came only days after another whale address transferred nearly $61 million in bitcoin after nine years of inactivity and a separate wallet transferred 279 bitcoins after ten years.
Also on April 24, an Ethereum address that participated in the project’s initial coin offering woke up after 7.7 years of dormancy and transferred a single ether.
This story has been updated with additional context.
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Source: https://www.theblock.co/post/233694/bitcoin-whale-decade-dormancy-40-million?utm_source=rss&utm_medium=rss