May has emerged as a notable month for ‘sleeping bitcoin’ transactions, with a long-dormant address, inactive for ten years and six months, awakening on May 28 to move 145.89 BTC, valued at .8 million. Over 9 Million in Bitcoin From 2013 Moved in May After a much quieter April, May has witnessed numerous dormant bitcoin […]
Bitcoin News
2014 Bitcoin Whale Awakens, Spends 1,005 BTC Valued at $64 Million After a Decade
Contrary to several earlier reports, it has been revealed that not only were 687.33 bitcoins transferred from a dormant 2014 wallet on May 6, 2024, but the owner also appears to have expended a total of 1,005.33 BTC, equivalent to almost million at current exchange rates. 1,005 Bitcoin Worth Million Moved From 2 […]
Bitcoin News
Sleeping Giant Awakens! Ethereum Whale With Over 12,000 ETH Creates Noise
The Ethereum market is buzzing after a long-dormant “whale” – a major investor holding a vast amount of cryptocurrency – resurfaced and transferred a significant amount of ETH to the Kraken exchange. This move has sparked speculation about a potential price drop, but wider market trends suggest a more complex picture.
On-chain analytics firm Spot On Chain has disclosed that the investor, who participated in Ethereum’s Initial Coin Offering (ICO) in 2014, recently deposited 1,069 ETH, valued at roughly .56 million, to Kraken.
Traditionally, deposits to exchanges are seen as a sign of intent to sell, potentially putting downward pressure on the price of ETH.
This whale’s activity is particularly noteworthy because of their participation in the Ethereum ICO. Back in 2014, they acquired 12,566 ETH at a meager .30 per token. The recent transfer represents just a fraction of their holdings, but the sale price – over ,300 per ETH – signifies a massive profit for the early investor.
An #Ethereum #ICO participant returned after 1.12 years to deposit 1,069 $ETH (.56M) to #Kraken at ,329 3 hours ago.
The whale received 12,566 $ETH at #Ethereum Genesis in Jul 2015, at an ICO price of ~.31,
And then distributed the $ETH across 12 wallets in 2017, of which… pic.twitter.com/Lid1hItGik
— Spot On Chain (@spotonchain) April 6, 2024
Ethereum Market Shows Signs Of Accumulation
While the whale’s move might suggest a potential sell-off, on-chain data reveals a broader trend that could offset its impact. According to IntoTheBlock, a blockchain analytics company, the past quarter witnessed a significant outflow of ETH from cryptocurrency exchanges, totaling a staggering billion.
This movement suggests that many investors are accumulating ETH, potentially anticipating future price increases.
Dencun Upgrade Fuels Ethereum Network Activity
The news comes on the heels of Ethereum’s successful Dencun upgrade, implemented in March 2024. The upgrade aimed to address the network’s scalability issues, specifically targeting high transaction fees and slow processing times.
Early signs appear positive, with IntoTheBlock reporting a surge in activity on the main optimistic rollups (Layer 2 scaling solutions) following the upgrade.
Weekly transaction volume reached highs of 32 million, indicating increased network usage. While gas prices have risen recently, they were initially significantly lower on many Layer 2 solutions after the upgrade.
Market Uncertainty Remains
The combined effect of the whale’s sale, the wider accumulation trend, and the Dencun upgrade’s impact on network activity make it difficult to predict the short-term direction of the Ethereum market.
While the whale’s sale could trigger a price dip, the broader accumulation trend suggests underlying bullish sentiment. The Dencun upgrade’s success in reducing transaction fees and increasing network usage could further bolster investor confidence.
Featured image from Pexels, chart from TradingView
Whale Watch — $2 Billion in Bitcoin Awakens, Shifting From Long-Term Hibernation
Arkham Intelligence reports that approximately billion worth of bitcoin, stored in five distinct addresses, experienced movement on Jan. 16, 2024, for the first time since their initial deposit in 2019. Each of these addresses obtained their funds from wallets established on Jan. 15, 2019, following a period of inactivity since 2013, when the bitcoins were initially dormant.
Billion in Dormant Funds Relocated, Originating from 2013
According to a social media update from the blockchain analytics company Arkham Intelligence, there’s been some recent activity involving vintage bitcoins moving within the network on Jan. 16, 2024. “ billion of dormant bitcoin moved just before U.S. market open today, across several linked addresses,” Arkham detailed. “The [bitcoin] had moved once in 2019, and before that had been dormant since 2013.”
The analytics firm added:
Historically these bitcoins have all moved at the same times and dates. They were consolidated today from 49 addresses into 5 new addresses, each now holding between 8K-12K BTC (0M-0M per address).
The initial address, labeled “bc1q9,” contains 9,953 BTC, valued at approximately 3.59 million. Similarly, the second wallet, beginning with the same initial five alpha-numeric characters “bc1q9,” comprises 10,486 BTC, equating to about 7.19 million, based on current exchange rates. The third wallet, identified as “bc1qn,” controls a stash of 9,445 BTC, valued at 2.80 million as of Wednesday afternoon.
The fourth wallet, “bc1qs,” contains 8,859 BTC, equivalent to 7.80 million, while the fifth address mentioned in Arkham’s update, “bc1qg,” secures 11,115 BTC, amounting to 4.01 million. The origins of these funds trace back to addresses established on Jan. 15, 2019, and prior to that, they originated from wallets dating back to mid-November 2013. As is common with significant movements of vintage BTC by whales, the motives behind these transactions remain a mystery.
What do you think about the bitcoin whales moving significant funds on Tuesday? Share your thoughts and opinions about this subject in the comments section below.
Satoshi Era Bitcoin Awakens: 2010 Block Reward Moves 3 Days After Mega Whale Activity
After the notable appearance of a mega whale on December 4, another block reward from the Satoshi era was moved on December 7, at a block height of 820,156. This transaction marks the 21st block reward from 2010 to be spent in the initial week of December.
Sleeping Bitcoin Stash Stirs After a Decade
On Thursday, December 7, 2023, a dormant stash of 50 bitcoin (BTC) stirred into action for the first time in over ten years. This movement of the so-called ‘sleeping bitcoins’ was detected by the blockchain parsing platform btcparser.com. Echoing the activity seen on December 4, where a series of 20 blocks were utilized, the original address divided the funds between two separate Pay-to-Script-Hash (P2SH) addresses.
The originating address, known as “18JkK,” was established on July 24, 2010. From this, it transferred 1 BTC to the address labeled “32Xas” and a further 48.99 BTC to “3DD4X.” Nevertheless, the transaction was conspicuous in terms of privacy, garnering a low privacy score of 5 out of 100 from Blockchair’s privacy analysis tool. This was attributed to identifiable issues like matched inputs and outputs.
While the transfer of 50 BTC may seem modest compared to the 1,000 BTC moved by the spender of 20 block rewards on December 4, its current value of .18 million is striking, especially when contrasted with its July 2010 worth of just . Moreover, instances of moving bitcoins from 2010 have become notably scarce in 2023, with more frequent sightings of 2012-era bitcoins.
The specific block reward, number 69,986, spent on that Thursday marked its first movement in over a decade. Importantly, it wasn’t part of the collection of block rewards linked to Bitcoin’s creator, Satoshi Nakamoto. Notably, Satoshi was active during that July but departed the community permanently in December 2010.
What do you think about the 2010 block reward awakenings in December? Share your thoughts and opinions about this subject in the comments section below.
Slumbering Bitcoin Cache Awakens After More Than a Decade, Transacting $3.77 Million
In September and October 2023, a surge in activity was observed as numerous dormant bitcoin wallets from 2012 reawakened, transacting millions in bitcoin after lying inactive for more than ten years. Despite this flurry of activity, there were no further movements from these wallets for the majority of November, following a modest transfer of ten bitcoins on Halloween. However, on November 30, an intriguing development occurred when a vintage bitcoin address from 2012, which had been inactive for nearly eleven years, suddenly became active again, spending .77 million.
After Years of Dormancy, Bitcoin Wallet Reactivates With a .77 Million Move
The resurgence recorded in September saw a significant number of these 2012 wallets come back to life, marking a noticeable shift in the pattern of older bitcoin wallets. Transfers from 2009 wallets are practically non-existent, and those from 2010 are becoming increasingly rare, making the recent activities of 2011 and 2012 wallets stand out.
Furthermore, October saw some interesting transfers from 2012 as well but the last one that occurred was on October 31, 2023. That particular transaction involved the movement of ten bitcoins from a wallet established on December 13, 2012.
Fast forward to 29 days after the last dormant bitcoin activity from 2012, and on November 30, 2023, another notable event unfolded. An address from that same year executed a significant transfer, moving 100 BTC valued at .77 million.
This transaction was detected by the blockchain parser btcparser.com on a Thursday afternoon. The bitcoin address, known as “18e2L,” initially appeared on the blockchain scene on Christmas Day, December 25, 2012.
At that moment, the total value of the owner’s BTC hoard was a mere ,338, with each bitcoin priced at .38. This translates to a significant appreciation of approximately 282,234% against the U.S. dollar from the time of acquisition.
The transaction’s privacy, as assessed by Blockchair’s privacy tool, scored a “moderate” 60 out of 100, indicating a reasonable level of anonymity. In essence, the user employed the “send everything” function, potentially for payment purposes or to transfer the assets to a new wallet.
Occurrences of ‘sleeping bitcoin’ spends are few and far between, yet they seem to surge when BTC values rise, as observed during the latter part of 2020 and the 2021 bull market. Year-to-date, bitcoin has witnessed a 128% increase against the U.S. dollar, with a 9.44% rise over the past month alone.
The precise reasons behind these transfers remain unclear, but the heightened value of BTC appears to be a driving factor for owners of these vintage coins. It’s important to note that these transactions indicate the movement of the bitcoins, with no definitive way to ascertain whether the coins are being sold or merely shifted to another address.
What do you think about the 2012 bitcoin transaction transferred on Thursday? Share your thoughts and opinions about this subject in the comments section below.
Dormant Bitcoin Wallet With 1,005 BTC Awakens, Sell Pressure Incoming?
An anonymous Bitcoin wallet holding 1,005 BTC recently woke up after 13 years of dormancy. This dormant wallet was one of the earliest Bitcoin wallets created, having received its first 1,000 BTC transaction in November 2010, just a little over a year after the Bitcoin mainnet launched.
During this time of Bitcoin’s humble beginnings, its price never even broke above .20. However, the recent reactivation of this wallet has sparked speculation of whether a massive sell-off of the coins could be incoming.
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A dormant address containing 1,005 #BTC (29,750,772 USD) has just been activated after 12.8 years!https://t.co/rLkpUZUvfH
— Whale Alert (@whale_alert) August 14, 2023
Cold Storage Just Turned Hot
Reactivation of old and dormant wallets containing massive amounts like this often sparks speculation about who controls them, especially as dormant wallets get reactivated from time to time.
2023, in particular, has witnessed a high number of these Bitcoin wallets coming back to life. According to the Spent Output Age Bands (SOAB) indicator, the number of bitcoins that are between 7 and 10 years old has demonstrated an exceptionally significant increase in the most recent months.
Using the SOAB indicator, investors are able to determine the age of Bitcoins currently available on the market as the lifespan of bitcoins is broken down into distinct ages.
Kirill Kretov, a developer who specializes in the creation of automated trading programs, believes that the reactivation may have been carried out by the same entity.
Considering its age, some Bitcoin investors also suggest this wallet might belong to Satoshi Nakamoto himself. However, this case would be very unlikely, as nobody knows who the Bitcoin creator actually is.
Bitcoin Selling Pressure Incoming?
On-chain data shows that the last transaction on this wallet was in April 2011, where it received 5 BTC. Data from Coinmarketcap shows that the price of Bitcoin at this time was around .99.
However, due to the consistent growth of Bitcoin over the last decade, the owner of this wallet now has over million worth of Bitcoin at their disposal at the current BTC/USD exchange rates. This represents a gain of over 8.8 million percent from the wallet’s last transaction.
This move could be bearish though if they decided to sell all of their holdings, it could introduce a fair amount of selling pressure on Bitcoin and cause the price to drop, at least temporarily. However, the owner has only moved the BTC to another wallet and not an exchange, suggesting they are more interested in HODLing – the option least likely to impact the market since the BTC would remain dormant.
At the time of writing, bitcoin is trading at ,501, down 2.24% in the last day.
Dormant Since 2010, Bitcoin Address Awakens to Move 1,005 BTC Worth $29.7 Million
On the morning of Monday, August 14, 2023, at the precise block height of 803,135, a dormant bitcoin address — created on November 9, 2010 — stirred to life. After lying in slumber for an exacting 12.9 years, it awoke to spend a staggering 1,005 bitcoin, a sum swelling to an impressive value of more than million.
Waking Giant: Bitcoin Address Stirs From 12.9-Year Slumber to Transfer .7 Million
In these modern times, bitcoin transactions from the era of 2010 have become a rarity. The last known spending of a dormant 2010 bitcoin occurred on July 24, 2023. On that particular day, a user unlocked a 50 BTC block reward, equivalent to .4 million. However, the movement on August 14, 2023, was tinged with a more extraordinary flair, as an astonishing 1,005 BTC, worth .7 million, was transferred.
The keen eyes of Btcparser.com first caught this monumental movement, while Whale Alert further corroborated the spend. Meanwhile, Blockchair’s privacy meter unmasked the transaction’s frailty, revealing that privacy was rather low when the 1,005 BTC was expended, and highlighting two critical flaws that undermined the transaction’s anonymity.
According to the privacy tool, the 1,005 BTC was gracefully swept into another address, accompanied by multiple appearances of the same address in the inputs. Blockchair reported that the funds found their new home at the address “bc1q6,” which, at the time of penning this account, comfortably nestles 1,004.99 BTC.
Interestingly, the original address harboring the 1,005 BTC remained unmoved with respect to the corresponding bitcoin cash (BCH) that the owner possesses. Bitcoin.com recently chronicled the stirring of .4 million worth of slumbering bitcoins from 2016 and 2014, as they awakened this past weekend after years of inertia.
These slumbering bitcoin transactions, particularly the enigmatic ones from 2010, inject a sense of intrigue and speculation. Enthusiasts find themselves captivated by the mystery, endeavoring to unravel the identity of the owner and the narrative intertwined with the coins.
Beyond the allure, this movement stands as a testament to the durability and longevity of BTC private keys when safeguarded with diligence.
What do you think about the 2010 address that spent 1,005 bitcoin on August 14 after 12.9 years of dormancy? Share your thoughts and opinions about this subject in the comments section below.
US Second in World by Debt per Citizen, Rare Bitcoin Block Reward Awakens, BRICS Summit Invites — Week in Review
A recent study has shown that Singapore, the U.S., and Japan rank highest in the world by debt per citizen, according to United Nations data. In other news, a rare 2010 Bitcoin block reward has awakened after 13 years of dormancy, and the BRICS economic bloc has invited 69 leaders to its August summit. This and much more, just below, in the Bitcoin.com News Week in Review.
Singapore, US With Highest Public Debt per Capita, China Most Indebted in BRICS: Study
Singapore, the United States and Japan top the global chart in terms of sovereign debt per capita, according to research based on U.N. data. The burden of government debt for every American is 10 times heavier than that for a Chinese citizen, according to the study.
Rare 2010 Bitcoin Block Reward Stirs After 13 Years of Dormancy
On July 24, 2023, a block reward from 2010 was transferred for the first time in 13 years, marking this month’s first expenditure of dormant bitcoin from that year. So far this year, a total of nine such block rewards from the 2010 era have been spent, resulting in the transfer of 450 bitcoins.
BRICS Invites 69 Leaders to August Summit — Western Countries Omitted
The BRICS economic bloc has invited 69 leaders to its upcoming summit, including all African heads of state and the political heads of major Global South bodies. More than 40 countries have expressed interest to join the BRICS group, with 22 nations already having submitted official applications. “We’ve never had such a large outreach,” said South Africa’s diplomat in charge of BRICS relations.
Decoding Ripple’s Ruling: A Potential Tsunami for the SEC
In a groundbreaking decision earlier this month, the Southern District Court of New York determined that institutional sales of XRP conducted directly by Ripple constitute securities sales. However, intriguingly, XRP sales on secondary markets, specifically crypto exchanges, do not. A verdict that has sparked a ripple, pun intended, in the crypto space, potentially creating waves of disarray for the U.S. Securities and Exchange Commission (SEC).
What are your thoughts on this week’s stories? Be sure to let us know in the comments section below.
Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy
On May 11, 2023, a long-inactive bitcoin wallet sprang to life and transferred a substantial 139.7 bitcoin worth .7 million. The address, established on June 19, 2011, has contributed to the year’s total of 1,125.37 bitcoin moved from dormant 2010 and 2011 wallets.
139.7 Bitcoin Worth .7 Million Suddenly Moves From Idle Wallet
A vintage wallet created on June 19, 2011, suddenly relocated 139.7 BTC, equivalent to .7 million at the time of transfer, on Thursday, May 11, 2023. Btcparser.com flagged this activity, which was confirmed at block height 789,291 at 8:14 p.m. (UTC). Shortly before that date — April 24 — the last 2011 bitcoin transfer from a dormant wallet took place and involved shifting 400 BTC at block height 786,801. The wallet that received the 139.7 bitcoin still holds the funds as of May 12, 2023, at 9:00 a.m. (ET).
Throughout this year, inactive wallets from both 2010 and 2011 have collectively transmitted a whopping 1,125.37 BTC valued at around million under current Bitcoin exchange rates. The address responsible for dispatching the aforementioned 139.7 BTC initially received a slightly smaller sum of 134.669 BTC back on June 19, 2011. By July 13 of the same year, it accumulated another batch of coins — 5.04 BTC — followed by several minuscule deposits referred to as “dust transactions” amounting to roughly 0.00000547 BTC each.
The recent transaction involving the transfer of 139.7 BTC received a moderate privacy score of 45 out of 100 according to Blockchair’s privacy-o-meter tool. It faces two issues: its entire balance was communicated to another address and multiple iterations of the same address appeared in inputs. These issues are not severe but they can be traced by monitoring applications examining linked transactions. Additionally, the corresponding bitcoin cash (BCH) associated with the wallet has not been spent.
What do you think about the long-dormant bitcoin wallet that woke up after close to 12 years of slumber? Share your thoughts about this subject in the comments below.