Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Another Bitcoin wallet last used during Bitcoin's early days has been activated this year.
Data shared by the Whale Alert crypto tracking service has it that, in the past 24 hours, one more crypto wallet with Bitcoins bought and/or mined nine years ago has been awakened after a long period of inactivity.
?? A dormant address containing 616 #BTC (29,470,042 USD) has just been activated after 8.8 years (worth 6,667 USD in 2012)!https://t.co/tr6lgToZPO
— Whale Alert (@whale_alert) September 19, 2021
Yet another dormant BTC address activated this year
The wallet 1BamMXZBPLMwBT3UdyAAKy3ctGDbXNKoXk contains 616 Bitcoins worth $29,470,042. Back in 2012, this amount of BTC was the equivalent of only $6,667, rising 4,499 times by now.
This is not the first time a dormant BTC wallet has been activated this year. Previously, U.Today reported that such "sleeping" wallets were activated in July, March and February. They held 791 BTC ($26,147,621), 5,000 BTC ($280,814,423) and 2,289.53 BTC (worth approximately $110 million), respectively.
A Twitter user, in the comments under the Whale Alert post, opined that such a wallet being activated could be considered a bad sign since owners of these wallets most likely plan to sell their stash now and then buy more Bitcoin more cheaply later. He added that these holders are likely to be in touch with other major whales, so a sell-off may be on the horizon.
Bitcoin collapses below $45,000
After reaching a peak of $48,700 on Saturday, Sept. 18, the flagship cryptocurrency has plummeted to the $44,436 zone, losing almost 9% of its market value ($4,248).
Two massive red candles were printed by Bitcoin earlier today, taking from $47,225 to $44,436. By now, however, the leading crypto has shown a slight recovery, recapturing the $44,965 level.
Vladislav Sopov