As the broader crypto market shows signs of recovery, Whale Alert indexes the reawakening of two dormant Bitcoin addresses containing a combined 155 BTC.
According to Whale Alert data, the first activation involves an 11.3-year-old dormant Bitcoin wallet that suddenly came out of hibernation yesterday. The wallet in question boasts a balance of 130 BTC, worth $8,423,540 ($8.42 million).
Whale Alert disclosed that the 130 BTC tokens were worth $9,733 at the time they first made their way to the wallet in 2013. Fast forward to 11.3 years later, the value of the funds has skyrocketed tremendously to a whopping $8.42 million. This suggests that the wallet registered a return of 86,446% in less than 12 years.
💤 A dormant address containing 130 #BTC (8,423,540 USD) has just been activated after 11.3 years (worth 9,733 USD in 2013)!https://t.co/po6LvvLm55
— Whale Alert (@whale_alert) July 16, 2024
Another Dormant Wallet Awakens After 10.3 Years of Hibernation
Furthermore, Whale Alert also alerted the public to a Bitcoin address that initiated a transaction for the first time since 2014.
According to the whale-tracking resource, this address has been dormant for 10.3 years and only reawakened yesterday at 21:33 UTC. Prior to its reactivation, the address held 25 BTC, worth $1,619,912 ($1.61 million) at the time of Whale Alert’s tweet. This reflects a massive surge of 15,049% compared to their initial value of $10,693 as of 2014.
💤 A dormant address containing 25 #BTC (1,619,912 USD) has just been activated after 10.3 years (worth 10,693 USD in 2014)!https://t.co/fOUqHk3DOV
— Whale Alert (@whale_alert) July 16, 2024
Data from blockchain analytic platform Arkham Intelligence shows that the wallet’s owner transferred the entire 25 BTC to two addresses. Notably, 15 BTC were sent to an unknown address, while the remaining 10 BTC were moved to a wallet affiliated with the German crypto exchange Bitcoin.de. At press time, the formerly dormant address has a zero BTC balance.
Increased Activation of Dormant Bitcoin Addresses
The transactions are part of a broader trend involving the reawakening of dormant Bitcoin addresses in recent times.
The Crypto Basic has reported a series of these transactions. This month alone, we spotted the reactivation of Bitcoin addresses that have been dormant for several years. In particular, a 12.4-year-old dormant wallet containing 119 BTC was activated on July 4. Five days later, another Bitcoin wallet with 48 BTC was reactivated after 13 years of dormancy.
The continuous reactivation of these dormant Bitcoin addresses has triggered concerns among investors, who worry it may have a bearish impact on crypto prices.
In the meantime, Bitcoin’s price is up 2.26% over the past 24 hours to $65,291. The top asset has also witnessed a double-digit gain of 13.05% in the weekly charts.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
