A Bitcoin (BTC) whale that has been inactive for 6 years suddenly resurfaced and transferred the BTC equivalent of approximately $82.3 million to two new wallet addresses. Data shows that the Bitcoin whale initially acquired the BTC on May 7, 2016, at a price of $459 per coin.
The Awakening of Dormant Bitcoin Wallet Addresses
Blockchain security company PackShield reported that a Bitcoin wallet address that has been dormant for 6 years transferred approximately 2,995 BTC, worth around $82.3 million, to two new wallet addresses. The unexpected awakening of this wallet address is not the first of its kind. Recently, another Bitcoin wallet address that had been inactive for three years moved 5,000 BTC, valued at approximately $140 million, to three different wallet addresses.
Additionally, in August, a Bitcoin wallet address believed to belong to the mysterious creator of Bitcoin, Satoshi Nakamoto, became active after being dormant for approximately 13 years. It transferred around 1,005 BTC, valued at approximately $29.7 million, to a new wallet address. The age of this particular address has sparked speculation about its connection to Nakamoto.
Similar wallet address activities were observed in September of last year and in January of this year. After prolonged periods of inactivity, they were moved to new wallet addresses, with a value of $56.3 million (2,100 BTC) and $252.5 million (15,000 BTC) respectively.
Low Volatility in Bitcoin’s Price
According to the latest data, Bitcoin is currently trading at $27,587, experiencing a 1.27% decrease in the past 24 hours. The data also shows that Bitcoin generated a volume of approximately $12.1 billion during the same period, with a market value of $539.3 billion, representing a 0.89% decrease.
The largest cryptocurrency, BTC, has been trading within a range of around $25,000 as the bottom and $28,500 as the top for the past month. This trading range is a significant indicator of the historical low volatility in Bitcoin’s price.
