This month, a Bitcoin address active since 2011 transferred tens of thousands of BTC, raising interest in the crypto community. The total amount transferred is worth approximately $22 billion.
Movement of the 2011 Bitcoin Whale
This month, tens of thousands of BTC were transferred from an address likely belonging to a single miner from early 2011. According to Conor Grogan of Coinbase, this wallet once held 200,000 BTC, making it one of the largest Bitcoin holdings.
> "The ancient whale that transferred tens of thousands of BTC today seemed to be a single miner in 2011. The miner integrated 180 mining reward blocks and had a wallet address containing 200,000 bitcoins in 2011, which is about $22 billion at the current value, making it one of the top five bitcoin wallets in history." — **Conor Grogan, Director of Product Strategy and Business Operations, Coinbase**
Stable Market Conditions Despite Activity
The activity of old Bitcoin wallets typically sparks market speculation but in this case, significant selling pressure has not been observed. According to CoinMarketCap, the market remains stable, with the current BTC price at $108,058.99. Market capitalization details indicate $2.15 trillion and 64.74% market dominance.
Potential Market Implications
While activating dormant Bitcoin wallets can affect trading volumes, no significant changes are expected in this case. The Coincu research team suggests that significant liquidations could cause some market fluctuations, but regulation and crypto analysts predict minimal disruptions unless such activations become frequent or involve major exchanges.
The transfer of bitcoins from active wallets existing since 2011 has become a notable event for the crypto community, yet market stability persists, reflecting the relative calm of investors.
