Dormant bitcoin wallets wake up after 10 years According t | Crypto Shake
Dormant bitcoin wallets wake up after 10 years
According to analytical resources, some wallets that had been idle for more than 10 years became active in 2022. Their owners began to actively move bitcoins (BTC). Experts noted that this happened against the backdrop of a two-year low for the flagship cryptocurrency.
According to analysts, the BTC/USD trading pair gradually returned to its Q4 2020 level and many have long wondered how the oldest holders of the cryptocurrency would react to this. The picture inside the network was mixed - idle supply was aging, but some longtime holders of virtual assets showed no signs of a clear desire to sell their assets at current prices.
However, a total of 510.65 BTC moved for the first time in 10 years last week. Moreover, the largest-ever transaction for coins that haven't moved in more than 10 years in a single calendar day was made: 477.80 BTC worth of transactions were recorded on June 14, 2022.
Experts noted that they know nothing about the origin of digital coins or the motives of their owners. The first movements of funds in old wallets were noted by Philip Swift, the creator of LookIntoBitcoin, a network analytics resource.
At the same time, experts from Glassnode, confirmed that a huge number of wallets, which store bitcoins for 10 years or more, continued to be inactive. According to the data, a total of 2,521,378 BTCs have remained out of circulation over the past decade - a figure that represents a new all-time high.
