A dormant address with almost 1500 Bitcoin [BTC] was recently activated after a period of 10.2 years. The transmission was first spotted by blockchain tracker and analytics system reporter Whale Alert. According to on-chain data, the transaction took place on June 8, 2023 at 05:23:06 UTC
Specifically, the whale transferred all 1,432.93 coins to a new address. To make this possible, the whale had to pay a fee of 0.0010743 BTC, or $28.38. On-chain smart money tracker Lookonchain pointed out:
“The whale received 1,432.92 BTC on April 9, 2013 when the price was $195.4.”
A BTC whale that has been inactive for 10.2 years transferred all $1,432.93 BTC ($37.8M) to the new address “bc1psv” 5 minutes ago.
The whale received $1,432.92 BTC on April 9, 2013 when the price was $195.4.https://t.co/17R0UqEBKC pic.twitter.com/e0LkSfn5t3
— Lookonchain (@lookonchain) June 8, 2023
Also Read: Ethereum-Bitcoin Pair Resists Correction as Binance Sees Major Outflow in 2023
Other bitcoin trends
On a macro level, dormant supply has increased since the beginning of this year. Data from Glassnode revealed that the last active supply amount of 2 to 3 years just touched a 5-year high of 2,980,770.566 BTC, justifying the said figure.
Source: Glassnode
At the same time, the number of non-zero addresses is also increasing. In fact, they hit a new all-time high of 47,543,668 today, suggesting that market participants are continuing to pocket BTC. In addition, the number of addresses holding more than 0.1 coins also recently peaked at 4,385,581.
It is also interesting that the market managed to overcome the “fear” phase. On Thursday, the Bitcoin Fear and Greed Index showed a neutral reading of 50, bringing to light the refinement trend. At press time, bitcoin was trading at $26.5,000.
Also Read: Korean Traders Favor XRP, Dogecoin Over Bitcoin and Ethereum in 2023
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