Breaking News: $3 Million BTC Whale Awakens and Transfers Holdings to Bitstamp
Arkham Intelligence has uncovered an ancient Bitcoin wallet with a whopping $3 million worth of BTC that has suddenly come back to life after years of inactivity. This 13-year-old whale recently sent 20 BTC valued at $1.27 million to major crypto exchange Bitstamp, marking its first move since receiving the coins over a decade ago.
The awakening of this whale is part of a larger trend of old Bitcoins being on the move. CryptoQuant reports a surge in the movement of coins from various age bands during Bitcoin's recent surge, with continuous transfers happening on the blockchain. Another whale with $77 million BTC, mined in Bitcoin's early days, recently sent 5 BTC to Kraken, sparking speculation about the sudden activity in these dormant wallets.
This whale, estimated to still hold 1,215 BTC worth $77 million, mined the coins in Bitcoin's early days of 2009. After lying dormant for nearly a decade, the value of the Bitcoin in the wallet skyrocketed from $474,000 to over $80 million. Now, after nearly 10 years of inactivity, this whale has started moving its holdings, with 10 BTC sent to Kraken in three separate transactions.
Just days ago, another early Bitcoin whale emerged from 15 years of dormancy to move $16 million worth of BTC, raising questions about the reasons behind these sudden awakenings of old Bitcoin wallets.
In conclusion, the reawakening of these ancient Bitcoin whales highlights the volatility and unpredictability of the cryptocurrency market. Investors should stay informed and be prepared for unexpected movements in the market that could impact their financial portfolios.