A Bitcoin wallet that had been dormant since 2018 transferred 8,000 BTC (over $535 million) to Binance, the largest exchange by trading volume. Lookonchain analysts drew attention to this.
A wallet that had been dormant for 5.5 years transferred 8K $BTC($535.64M) to #Binance 40 minutes ago.
The wallet received 8K $BTC on Dec 6, 2018, when the $BTC price was $3,810.https://t.co/zvxAKbHKi6 pic.twitter.com/ZKZHdm4JkR
— Lookonchain (@lookonchain) June 11, 2024
Coins purchased at the bottom of the bear market in December 2018 at $3800. In total, they cost the investor more than $30.4 million.
According to April report Chainalysis and Fortune, 1.75 million Bitcoin wallets have been inactive for more than 10 years. They hold 1,798,681 BTC (~$121 billion at the time of the report), which is 8.5% of the total emission.
This count does not include the approximately 30,000 addresses associated with the creator of the first cryptocurrency, Satoshi Nakamoto.
Source: Cryptocurrency
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