As a seasoned researcher with a deep interest in the world of Bitcoin and cryptocurrencies, I find myself both intrigued and perplexed by the recent surge in activity from long-dormant Bitcoin addresses. Having closely monitored this space for over a decade, I’ve witnessed countless cycles of hype, bear markets, and recovery. Yet, the sight of these ancient addresses coming back to life after more than a decade of inactivity is unlike anything I’ve seen before.
As a Bitcoin analyst, I’ve come across some intriguing news. Based on information from Whale Alert, a Satoshi-era Bitcoin address, which has been dormant for over twelve years, has recently been activated.
From the year 2012, this address holds a collection of 26 coins with a present-day worth of approximately $1.8 million.
Based on information from Whale Alert, this is the fifth old Bitcoin address that has become active in the past week.
Back in July 25th, I came across an intriguing discovery: an old Bitcoin address holding approximately 750 coins had been dormant for over a decade – around 11.2 years to be exact. This inactive fortune, valued at a staggering $48 million at the time, suddenly sprung back to life.
During the month of July this year, a larger than usual number of previously inactive Bitcoin wallets have become active again.
Approximately two weeks ago, multiple Bitcoin wallets holding more than $10 million in BTC became active again after over a decade of dormancy. For example, a wallet with approximately $12 million in BTC became functional on July 17, following a 10.3-year slumber. Similarly, a wallet boasting an impressive $57 million in Bitcoin saw its first activity since 2011 on July 6.
A massive sentiment jump
Based on information from CoinGecko, the global leader in cryptocurrencies, is presently priced at around $69,737 following a 3% increase within the last 24 hours. Its market value is edging closer to an impressive $1.4 trillion.
According to U.Today’s report, there has been a significant shift in sentiment towards the top cryptocurrency, fueled by its successful price rebound.
It’s yet unclear if Bitcoin can firmly stay above the $70,000 mark after spending just 14 days there so far.
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2024-07-29 10:01