5 Dormant Miner Addresses Moved 250 BTC; Coins Mined in 2009

IconCryptoNewsTerminal Staff20 Sep, 2024

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5 Dormant Miner Addresses Moved 250 BTC; Coins Mined in 2009

On-chain data provider Lookonchain revealed that 5 dormant Bitcoin (BTC) miner addresses, which hadn't moved in over 15 years, suddenly became active and transferred a total of 250 BTC (worth around $15.9 million) within an hour. Notably, the transferred BTC was mined between January 2009 and February 2009. The movement of these dormant funds has sparked curiosity within the crypto community, with many speculating about the reasons behind the sudden activation of these addresses. Some experts believe that the owners of these addresses may have simply decided to cash out their long-held crypto assets, while others suggest that it could be part of a larger market manipulation strategy. Regardless of the motivations behind the transfer, the movement of these dormant funds highlights the liquidity and volatility of the cryptocurrency market. It also serves as a reminder that even the oldest and seemingly inactive crypto assets can suddenly come back into play, potentially impacting the market's dynamics. As the cryptocurrency market continues to evolve, it will be interesting to see if more dormant miner addresses become active and what impact this will have on the overall market sentiment and price action.

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