Dormant Bitcoin (BTC) Wallets Reawaken After 11 Years: Unveiling Their Potential Earnings

  • Two Bitcoin whale addresses that had been dormant for almost 11 years have suddenly sprung to life, initiating large-scale Bitcoin transactions and reaping substantial profits.
  • The anonymous whale wallets, identified as “16vRqA” and “1DUJuH”, transferred a total of 1,000 BTC valued at $60.9 million in the span of 20 minutes.
  • Following the transfer, Bitcoin’s price surged by 2.92% in just 24 hours, trading at $62,800.

Two Bitcoin whale addresses dormant for nearly 11 years have initiated large-scale Bitcoin transactions, causing a surge in Bitcoin’s price and highlighting the influence of large-scale transactions on the market.

Early Bitcoin Whales Move 1,000 BTC

Blockchain analytics platform Lookonchain recently unveiled two Satoshi-era whale wallets which have been inert for 10.7 years suddenly showing signs of activity. The anonymous whale wallets, identified as “16vRqA” and “1DUJuH” had cumulatively transferred a total of 1,000 BTC valued at $60.9 million in the span of 20 minutes.

Significant Profits Realized

According to Lookonchain, the two previously dormant Bitcoin whale wallets had purchased about 500 BTC each as early as September 13, 2013, just four years after the cryptocurrency’s inception. At the time, the price of BTC was about $124. Now with the price of Bitcoin slightly above $61,200 at the time of the transfer, these anonymous Bitcoin whales have realized significant profits. Over the past 10 years, Bitcoin has skyrocketed by an astonishing 47,873%, resulting in each wallet’s initial BTC investment of $62,000 now yielding a profit of $30,387,372.

BTC Price Sees Slight Uptick

Following the 1,000 BTC transferred by the two previously inactive whale wallets, Bitcoin’s price, which was initially trading slightly above $60,000, surged by 2.92% in just 24 hours. The cryptocurrency is presently trading at $62,800, displaying bullish signals as its daily price chart depicts mostly green candles.

Conclusion

Bitcoin’s daily trading volume of about $18.1 billion has also witnessed a significant increase of 41.23%, highlighting the sudden rise in interest and demand from investors. It’s presently uncertain if BTC will keep this bullish momentum, considering that the cryptocurrency was previously experiencing substantial declines following the halving event on April 20. Over the past month, CoinMarketCap has reported an 8.45% decrease in Bitcoin and another 4.15% drop in the past seven days. With the market showing new signs of interest in BTC, the cryptocurrency’s price correction may be over, indicating the onset of a potential recovery.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Solana (SOL) ETF on the Horizon: Anthony Scaramucci Announces Groundbreaking Move

Solana (SOL) is anticipated to be the next cryptocurrency...

Whales Circle Popular Altcoin Network Again: [Coin Name] ($SYMBOL) Poised for Another Surge!

Toncoin (TON) network, linked with Telegram, is...

Retik Finance (RTK) Presale Soars to $32.8M as BlockDAG Dashboard Update Ignites Transparency and Crypto Whale FOMO

BlockDAG’s recent dashboard update has captured significant...

Crypto Analyst Guy Turner Predicts Significant Surge for Fantom (FTM) Price

Fantom (FTM) is gaining attention in the...

Ethereum (ETH) Surges 2% Amid $6.9M Whale Movements – What’s Next for ETH Price?

Ethereum's price surges by 2% following major...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Dogecoin (DOGE) Address Profitability Soars to 83%: Key Insights and Analysis

Dogecoin (DOGE) might be experiencing an immediate price plunge,...

SHIB, DOGE, BONK, FLOKI Price Analysis for May 25: Key Insights and Trends for Top Meme Coins

<ul> <li>Meme coins are experiencing a rebound after...

Bitcoin (BTC) Price Analysis: Experts Predict Potential Downtrend – What’s Next for BTC?

<ul> <li>Bitcoin (BTC) has experienced a significant drop...

Bitcoin (BTC) Faces Resistance-Induced Pullback: Market Analysis and Future Projections

Bitcoin (BTC) recently touched the $72,000 resistance...
Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
spot_imgspot_imgspot_imgspot_img

Solana (SOL) ETF on the Horizon: Anthony Scaramucci Announces Groundbreaking Move

Solana (SOL) is anticipated to be the next cryptocurrency to have an exchange-traded fund (ETF) launched. Brian Kelly, founder and CEO of BKCM LLC, also...

Whales Circle Popular Altcoin Network Again: [Coin Name] ($SYMBOL) Poised for Another Surge!

Toncoin (TON) network, linked with Telegram, is experiencing a significant increase in high-volume transactions. On-chain analysis platform CryptoQuant's author analyzed the...

Retik Finance (RTK) Presale Soars to $32.8M as BlockDAG Dashboard Update Ignites Transparency and Crypto Whale FOMO

BlockDAG’s recent dashboard update has captured significant attention in the crypto community. The presale of BlockDAG has garnered an impressive $32.8...