Several longtime holders of Bitcoin have reactivated dormant wallets, moving substantial amounts of BTC after years of inactivity. Bitcoin’s price dipped to ,952 amid speculation related to the Mt Gox distribution and the German government’s transfer of 3,000 BTC. Standard Chartered forecasts Bitcoin hitting 0,000 by November, with a potential boost from a Trump election […]
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Sleeping Bitcoin Wallet Transfers 1,000 BTC Worth Over $56M After a Decade
On Friday, July 5, 2024, at 8 p.m. EDT, as bitcoin’s price hovered around ,500 per unit, a dormant wallet, created on Nov. 24, 2013, transferred over 1,000 BTC, valued at .5 million, at block height 850,855. Long-Inactive Bitcoin Wallet Transfers Over M At 8 p.m., or Bitcoin block height 850,855, a wallet created ten […]
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Several Sleeping Bitcoin Wallets Reactivate After Years of Inactivity
According to data, several longtime holders have recently reactivated wallets containing hundreds of bitcoins for the first time in years. One inactive address, created on April 1, 2013, transferred 126.65 BTC valued at .63 million, marking its first transaction in over 11 years. Hundreds and Notably a 1,000 Stack of Vintage Bitcoin Transferred From Idle […]
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Sleeping Bitcoins Worth $13.87M Move After 11 Years, Transfer Exposes 2013 Whale
According to data from June 3, an entity with eight wallets created in 2013 moved 200 BTC valued at .87 million after the funds remained untouched for over 11 years. If sold today, the value of these bitcoins has increased by 197,785% since their acquisition. Spending 200 Bitcoin Unveils Previous Transactions From 2013 On Monday, […]
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32 Vintage ‘Sleeping Bitcoin’ Wallets Spring to Life in May, Surpassing April’s Activity
Following the awakening of numerous dormant bitcoins in March, April was rather uneventful, with just 72 transfers from idle wallets dating between 2010 and 2017. To date, May has seen 32 transfers from vintage wallets, moving about 1,181 more bitcoin in the past two weeks than during the whole month of April. May Outpaces April […]
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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
Bitcoin Whale From 2015 Moves ‘Sleeping Bitcoins’ Worth $163M as Historic Wallets Wake Up
As bitcoin remains stable above the K mark, an entity from 2015 made onchain waves by moving 2,352.62 bitcoins valued at more than 3 million. This individual executed the transfer through 80 distinct transactions, after letting the bitcoins remain untouched for more than eight years. 2015 Bitcoin Cache Comes Alive On March 10, 2024, a […]
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Blockchain Parser Discovers Strange Spending of $58.7M Worth of Sleeping Bitcoins From 2017
In the past week, several strange movements of dormant bitcoins have captured the attention of onchain analysts, with nine transactions on Jan. 31, 2024, mobilizing 726 bitcoins that had been stagnant since Mar. 30, 2016. Merely two days after, a staggering 1,210 bitcoins, originating from addresses created on the same date in 2016, were dispatched through 15 individual transactions. On Feb. 4, 2024, a further mysterious tranche of 20 transactions unleashed 715.28 sleeping bitcoins, valued at million according to the current exchange rates. Not too long after that, the same entity moved another 639.85 bitcoin worth .7 million in a set of 30 transactions.
Odd Spending Spotlights Strange Whale Movements
An intriguing pattern of bitcoin expenditures from years past has come to light. Bitcoin.com News highlighted a peculiar sequence of movements originating from Mar. 30, 2016, where an unidentified party shuffled approximately 1,936 BTC through 24 transactions on Jan. 31 and Feb. 2, 2024.
No single transfer exceeded the 80 BTC threshold, with the bitcoins moving from traditional Pay to Public Key Hash (P2PKH) addresses to simply a new collection of P2PKH wallets. Then, on Sunday afternoon, a similar event unfolded with another 20 transactions, this time involving bitcoins initially acquired in 2017.
While the transaction pattern bore resemblance, distinct details in the pattern diverged. Yet, the 20 transactions evidently originated from a single proprietor, and it’s quite probable that this individual was the same one who mobilized BTC from the Mar. 30, 2016, addresses.
The BTC moved on Sunday summed up to 715.28 BTC, valued at million, initially acquired on Feb. 16, 2017. This reveals that the bitcoins remained untouched for approximately six years, 11 months, and 19 days. Had the owner delayed the transaction by just 12 more days, it would have marked the seven-year milestone since their initial acquisition.
During that period, BTC was being traded at ,027 per coin, placing the total value of the assets at 4,592. A notable deviation from previous transactions, aside from the acquisition dates, is the average amount per transaction; the 20 transactions curiously moved slightly less than 37 BTC each.
According to data from btcparser.com, 16 out of these transactions involved less than 36 BTC per move, with all 20 maintaining a minimum of 35 BTC per transaction. Mirroring the earlier disbursements last week, the owner did not shift any of the corresponding bitcoin cash (BCH) tied to the 715.28 units.
And akin to the previous peculiar movements from 2016, these funds were also shifted from old-style addresses to a new set of legacy addresses without consolidating the funds. Although the assets date back to 2017, their origin is linked to addresses established in August 2016.
Similar to the transactions earlier in the week, these 2017 bitcoins were transferred with “moderate” privacy, receiving a score of 55 out of 100 from Blockchair’s privacy-o-meter, a tool that assesses transaction anonymity. All 20 transfers from Feb. 4, 2024, can be seen here: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20.
2017 Whale Transfers 1,355.13 Bitcoin Total After Another Tranche of 30 Transactions
The activity resumed at block height 828,946, where the whale initiated another series of 30 transactions that continued well into Feb. 5, 2024. This time, the movement of funds adopted a slightly altered pattern, predominantly in chunks ranging between 19 and 21 BTC. However, at block height 828,961, there was a noticeable shift in the transaction sizes, with amounts not falling below 24 and not exceeding 36 BTC per transaction. Altogether, the individual moved a total of 639.85 BTC, valued at .73 million.
Consistent with the previous 20 transactions, these 30 transactions also originated from wallets established on Feb. 16, 2017. Similarly, the equivalent 639.85 BCH linked to the bitcoins transferred remains untouched. The 30 distinct transactions from Feb. 4-5, 2024, can be seen here: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30.
What do you think about the latest 20 transfers from 2017 that copied the same pattern as the transfers from 2016 earlier last week? Share your thoughts and opinions about this subject in the comments section below.
1,210 ‘Sleeping Bitcoins’ From 2016 Stir After Years of Inactivity, Following Previous Day’s Mysterious Movements
On the final day of January 2024, a series of nine enigmatic transactions emerged from wallets established in 2016. Subsequently, another tranche of 15 transactions from wallets created on that same day in 2016 moved a total of 1,210.41 bitcoin, valued at million. This marked the first movement of these funds in almost eight years.
After the 9 Enigmatic Transactions 2 Days Ago, the Same 2016 Whale Moves a Tranche of Bitcoins Worth Million
In the last three days, an entity that accumulated a significant amount of bitcoins in 2016 has chosen to transfer these assets for the first time in several years. On Feb. 1, 2023, Bitcoin.com News covered the activity of a 2016 whale, highlighting the transfer of 726 BTC across nine separate bitcoin wallets, with each transaction involving slightly more than 80 BTC.
Merely two days following this event, the same individual or entity made another move, this time transferring 1,210.41 BTC worth million (1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15). Initially valued at 2,102 when the wallets were established on March 30, 2016, the funds followed a pattern similar to the Jan. 31 transactions, with each of the user’s 15 transfers slightly exceeding 80 BTC.
The breakdown of these transactions saw three executed at block height 828,477, followed by a single transaction confirmed at 828,478. Another trio of transfers was authenticated at 828,479, with an additional single transaction verified at block height 828,481.
Subsequent to these, one transfer was confirmed at block height 828,482, and three others took place at 828,494. Another solo transaction was confirmed at block 828,497, with the final duo of transactions occurring at block height 828,498.
All 15 transfers were discovered by the blockchain parsing tool btcparser.com. Mirroring the transfers from Wednesday, these transactions recieved a privacy score of 55 out of 100, according to Blockchair’s privacy meter. Furthermore, the corresponding 1,210.41 bitcoin cash (BCH), also possessed by the entity, remains untouched.
Additionally, the wallets, which were Pay to Public Key Hash (P2PKH) addresses, simply moved their contents to alternative P2PKH legacy addresses after their initial activity. The reason behind the user’s pattern of transactions remains a mystery, yet it maintains market vigilance as substantial quantities of aged BTC are mobilized after years of quiescence.
What do you think about the 1,210 bitcoin worth million moving in this fashion after all these years? Share your thoughts and opinions about this subject in the comments section below.
Long-Dormant ‘Sleeping Bitcoins’ Worth $35 Million Spring to Life on January’s Final Day
On Jan. 31, 2024, a notable movement of so-called ‘sleeping bitcoins’ occurred, involving wallets from 2013 and 2016 which collectively transferred 845.06 bitcoins valued at approximately .96 million. Originating from a handful of distinct addresses, 726 bitcoins were likely the property of a single entity, considering the patterns observed.
Million in Long-Dormant Bitcoins Make a Sudden Move
At precisely block height 828,276, which occurred on Wednesday afternoon, an unidentified party initiated the movement of 118.93 BTC, marking its first transaction in a span exceeding a decade and two months. The wallet, identified as “1PUeG” by the blockchain parser web portal btcparser.com, intriguingly left the corresponding 118.93 bitcoin cash (BCH) untouched.
This transaction garnered a modest “low” rating of 45 out of 100 on Blockchair’s Privacy-o-meter, a result of the repeated use of the same address in the inputs. The entirety of the funds was transferred to a new address, employing the ‘send everything’ option. While this 2013 wallet’s activity was noteworthy, an even more compelling series of transactions originated from nine wallets created in 2016, which moved a sum of 726.13 BTC.
These nine wallets, all established on March 30, 2016, remained inactive for nearly eight years, holding the bitcoins which were then valued at merely 1K, based on the BTC price of 4.82 at the time. Fast forward to the present, their value rose to an impressive .90 million at current exchange rates.
Each of these nine transactions (1, 2, 3, 4, 5, 6, 7, 8, 9) involved slightly over 80 BTC, with the associated BCH similarly left unspent. In terms of privacy, most of these 2016 transactions exhibited a higher degree of discretion, achieving a “moderate” score of 55 out of 100 on the Privacy-o-meter. Like the earlier case, this owner also opted for the ‘send everything’ approach.
Sleeping bitcoins, particularly those from earlier periods, are a rarity in the crypto space. Over 64,000 addresses still lay dormant between 2009 and July 2017. While the awakening of the 2013 wallet was significant, the simultaneous movement of the nine wallets from 2016 was even more interesting, strongly suggesting a single owner’s involvement. Despite this, the identity behind the series of 80 BTC transactions and the owner remains shrouded in mystery.
What do you think about the sleeping bitcoins that moved on Wednesday? Let us know what you think about this subject in the comments section below.