As reported by analysts at Whale Alert, this is the first outgoing transaction from an address that has been dormant for many years. The bitcoins that arrived at this address 12 years ago were valued at $12,100 at the time, and now the value of the coins has increased by about 500,000%. The reason for the transfer remains unknown, as does the identity of the address owner.
A dormant address containing 1,000 #BTC (59,989,823 USD) has just been activated after 11.8 years (worth 11,908 USD in 2012)!https://t.co/JOJTymSWal
— Whale Alert (@whale_alert) July 14, 2024
This transaction reflects increased activity among dormant addresses. Just ten days before this move, another wallet was activated that had been dormant for over a decade. The owner of the address translated $7 million worth of bitcoins. On May 12, a major bitcoin owner also moved more than 1,000 BTC from an address that had been dormant for more than 10 years.
These large transactions contribute to market volatility and can significantly affect the dynamics of the Bitcoin rate. They can indicate different strategies: a willingness to realize profits or redistribute assets within a crypto portfolio.
Let us recall that on the eve of the April halving, an anonymous whale with a balance of 94,500 bitcoins “woke up”. He divided his assets between three new crypto addresses.
Source: Bits

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