A recent wake-up call from a wallet lying dormant for six years has sparked considerable interest among the crypto community, as it transferred 6,000 BTC equivalent to $649 million.
Wallet Awakening Event
According to on-chain data, a wallet that has been inactive for around six years suddenly transferred all 6,000 BTC, currently worth approximately $649 million. This wallet received 6,000 BTC on July 25, 2019, when the price was $9,796, totaling around $58.77 million back then.
Comparison with Previous Awakenings
Recent awakenings of wallets in the cryptocurrency space have also generated widespread interest. For instance, an Ethereum ICO participant woke up after 10 years and transferred 1,140 ETH, currently valued at about $2.88 million. In the past week, eight dormant Bitcoin wallets moved 80,000 BTC (approximately $8 billion), marking the largest transfer in the Satoshi era.
Trends in the Crypto Market
At the time of writing, the price of BTC stands at $108,923. The awakening of such wallets often occurs due to actions from early investors or institutional players, indicating possible shifts in market sentiment. Last month also saw other significant transfers, including 10,000 BTC moved from wallets inactive for over 14 years.
Awakenings of long-dormant wallets in the crypto market are becoming increasingly common, highlighting intriguing trends and potential changes in investor activity. The transparency of these transactions keeps interest in cryptocurrencies alive, especially considering Bitcoin's rising price.
