A Bitcoin whale address that has been dormant for over nine years transferred 2,071.5 BTC ($60.7 million) out today.
The newly awoken address in question received its 6,071.5 bitcoins on Dec. 19, 2013 — when the price of one bitcoin was $663 — noted on-chain analyst Lookonchain.
While the reason for the move is unknown, some speculate that many long-time crypto users are moving old funds to new wallets amid a significant (and mysterious) wallet-draining operation seemingly targeting old wallets.
The price of bitcoin declined yesterday. Source: TradingView
The price of bitcoin has dropped by nearly 4% over the past 24 hours. The market-leading cryptocurrency is trading just below $29,000 as of press time.
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Source: https://www.theblock.co/post/227275/dormant-bitcoin-whale-60-million-9-years?utm_source=rss&utm_medium=rss