Huge amount of ‘dormant’ Bitcoin moved after more than 11 years of hibernation


A large sum of money from a “Sleeping” Bitcoin was transferred after it lay dormant for more than a decade.

Since the crisis between Russia and Ukraine and increased pessimism about the future of the global economy, cryptocurrency values ​​have been volatile.

On Thursday, the price of bitcoin rose to a high of $42,592after a two-day low of $38,300.

After a brief period of optimism, BTC’s value bounced back to $38K at the end of Thursday.

Related article | Billionaire Investor Says Crypto Outlook Is ‘Very Bullish’ For Bitcoin

However, despite the volatility of the market, an old-school whale from 2010 chose to move a significant number of bitcoins.

The term “whale” refers to any entity that has a significant number of tokens of a particular cryptocurrency.

Bitcoin awakened from deep sleep

A transfer of approximately 489,091 BTC worth nearly $17 million from the bitcoin address “17QBW” has just been tracked.

When the transaction was executed at block height 726,641 at 1:45 am, blockchain parser Btcparser.com spotted it on March 10 (UTC).

A total of 5,111 bitcoins were processed by the original address from which the 1,000 BTC were sent between September 6, 2010 and July 12, 2011.

Although the 429 BTC issued on March 10, 2022 was initially received at the same time as the remaining 510.91 BTC, the owner waited more than a decade to transfer the 429 BTC, which was issued two days later on Halloween (31 October 2010). ) that year.

Total Market Cap of Crypto at $1.746 Trillion on the Daily Chart | Source: TradingView.com

ETH Whales Have Second Largest Share In Crypto, Thanks To SHIB

Meanwhile, despite being a meme coin, Shiba Inu continues to regularly create a loud bark in the crypto field.

By the end of 2021, the platform’s user base had crossed the one million user threshold. In almost recent years, SHIB has gained more than 200,000 new members.

There are 1,198,043 Shiba Inu owners at the time of writing.

According to data from IntoTheBlock, the number of Shiba Inu transactions above $100,000 continues to reach all-time highs.

On February 9, the stat hit $389.89 million in revenue. Based on the report, these transactions accounted for 81% of the total volume on the blockchain.

Lifted by whales

SHIB’s success would not have been possible without the help of dominant whales.

When SHIB ($1.4 billion) surpassed FTT ($1.36 billion), the original coin of the FTX exchange, it became the largest holder of cryptocurrency. SHIB is currently the second largest Ethereum whale company.

Since the bitcoin hibernation transfer in 2010, there has been no massive “awakening” of the crypto from that year – at least not yet.

Related article | South Korea has a new president – ​​and he loves crypto

Featured image of AtoZ Markets, chart from TradingView.com

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