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- 📢 Gate Square #Creator Campaign Phase 2# is officially live!
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A Bitcoin whale awakens for the first time in 14 years, moving BTC worth 70 billion yen.
According to data from blockchain analysis firm Arkham, a Bitcoin whale wallet (large investor) that had been dormant for over 14 years resumed activity on the 24th. The wallet first executed a test transfer of 0.0018 BTC and then moved its entire holding of 3962 BTC (approximately 70 billion yen) to a new address.
According to the blockchain records of BitInfoCharts, a dormant address accumulated BTC in January 2011. At that time, the price of Bitcoin was about $0.37, making the total cost $1,453. The current asset value has ballooned to over 320,000 times.
This wallet awakening has garnered attention as part of the recent surge in whale activity this month. On July 23, another early holder moved 1.0603 BTC after several years of dormancy, and last week, 4.0191 BTC was transferred under the management of Galaxy Digital.
Market participants point out that as Bitcoin hovers around its all-time high, veteran holders may be shifting assets in preparation for a large sell-off. The movements of these long-standing wallets are being closely monitored as a significant factor that could influence the overall price trends in the cryptocurrency market.
Bitcoin (BTC) news and price
Comparing Bitcoin Exchanges | Which one allows for comfortable and cost-effective trading?
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