Dormant Whale Address Awakens After 11-Year Hibernation, Up By 54,000%
According to on-chain data, a Bitcoin whale address that had been inactive for more than a decade was recently activated. The whale address, with 1000 BTC, was valued at $11,908 in 2012, when it first received the Bitcoin.
4 hours ago, the dormant wallet “1EhXAfST” woke up after 11.8 years and moved 1,000 $BTC (~$60M) to 2 new wallets!
The wallet received those $BTC on Sep 25, 2012, when the price was only $12.06 ($12.06K).
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Nearly 12 years after its last transaction, the whale address sent out the Bitcoin balance to two addresses, transferring about $62 million worth of Bitcoin, at press time.
Notably, as of September 25, 2012, the last time the wallet recorded any activity, Bitcoin was less than $12. However, by HODLing the assets, the owner of the address made about 500,000% profits.
It is still a mystery why the wallet holder left the address dormant for that long and what prompted the recent transfer. Nevertheless, it is not uncommon to see dormant addresses suddenly move after years of inactivity.
In June, another whale address made a move after years of inactivity. A 5.5-year-old dormant Bitcoin (BTC) whale address transferred 8,000 BTC to a Binance account. The Bitcoin wallet address ‘1FMbcnYvvccZ6hR324cFRpn1QX9TCkqtAe’ recorded its last activity on December 6, 2018, after it received 8,000 BTC.
At that time, BTC was valued at $3,810. However, fast-forward to June 2024, the address sold all its Bitcoin holdings to a Binance account and made $535 million.
More Dormant Bitcoin Whale Gets Reactivated
In a recent report, a dormant Bitcoin address was activated after making $40 million from a sale. The address was inactive for more than ten years after its last transaction on Jan 12, 2014, when it received 687.33 $BTC.
At the time of the last transaction, Bitcoin was worth $917. However, after years of no transaction, the address transferred its total holdings of 687.33 $BTC to another wallet and made about $43.94M at press time.
Another dormant address that was left inactive for 14 years moved 50 BTC from its wallet to the Binance exchange. The wallet holder mined Bitcoin on July 14, 2010, when the asset was still worth $0.05. Notably, by hodling the Bitcoin until June 27, 2024, the miner sold the 50 BTC and made $3.054 million at the time of the transaction.
