The post Dormant Massive Bitcoin Whale Awakens After 11 Years: Details appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com 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. According to Blockchain data tracker Whale Alert, a dormant Bitcoin address containing 357 BTC, currently valued at nearly $34,070,177, has been activated after 11 years of inactivity. Dormant addresses, especially those holding substantial amounts of Bitcoin, often attract attention since they may be linked to early Bitcoin adopters. The reasons behind such long periods of inactivity can vary, ranging from forgotten wallets or hodling of assets. Given the meteoric rise in Bitcoin price this year, the holder might believe the current market conditions are favorable for either selling or further investment. The holder may potentially be moving funds for security reasons or simply rediscovered the wallet’s keys. All this said, the exact reason for the awakening remains unknown. Bitcoin changed hands at $94,673 as of press time as its momentum slowed after hitting a record high of $108,316 on Dec. 17. The biggest cryptocurrency is flirting with a drop for December, marking its first monthly loss since September. Related Despite this, expectations remain in the final days of December for crypto prices. According to Santiment, although trading volume is low, if whales continue their strong accumulation trend, the lack of retail participation may lead to at least one final big unexpected 2024 pump while retail pays little attention. Bitcoin predictions for 2025 Galaxy Research recently issued some…

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Filed under: News - @ December 29, 2024 2:15 pm