Dormant Bitcoin Address Transfers 8,000 BTC to Binance

IconCryptoNewsTerminal Staff11 Jun, 2024

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Dormant Bitcoin Address Transfers 8,000 BTC to Binance

Blockchain data analytics firm Lookonchain tweeted that a specific address which has been dormant for 5 years and 6 months transferred 8,000 BTC (worth $535 million) to Binance 40 minutes ago. This address purchased the bitcoin in December 2018 at an average price of $3,810 per bitcoin. This news is significant because it shows that large amounts of bitcoin are still being moved around by long-term holders. It also highlights the importance of keeping your bitcoin in a secure wallet, as even dormant addresses can be compromised. ```