Bitcoin Sleeping Giant Awakens: Dormant Address Transfers Millions
CryptoNewsTerminal Staff05 Sep, 2024
Bitcoin Sleeping Giant Awakens: Dormant Address Transfers Millions
After 11 years of slumber, a Bitcoin address (1Et3kN) has stirred, sending its entire balance of 31.9 BTC ($371.6 in 2012) off the exchange. This transfer, valued at $1.81 million today, marks a significant movement of one of the oldest Bitcoin addresses. The transaction, spotted by BitInfoCharts, indicates a shift in the cryptocurrency market as long-term holders re-enter the game. With Bitcoin's recent surge in value, dormant addresses are being revived, potentially influencing market trends and liquidity. While the reasons behind the transfer remain unknown, this event highlights the enduring nature of Bitcoin and its ability to hold value over extended periods.
