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Dormant Bitcoin (BTC) Address Back to Life After 10,400% Gain

Published 07/10/2024, 06:02 AM
Updated 07/10/2024, 09:30 AM
© Reuters.  Dormant Bitcoin (BTC) Address Back to Life After 10,400% Gain

U.Today - After 10.6 years in dormancy, another Bitcoin (BTC) address has emerged in the ecosystem. According to data insights from Whale Alert, the Bitcoin address contained 149 BTC valued at $8,590,673 at the time of the reactivation.

Right time to make comeback

Many Bitcoin wallets have come back to life over the past few months. While each of these wallets has reasons for returning from dormancy, the accrued gains mark a major catalyst fueling this revival.

This latest return came with more than a 10,400% gain overall. At the time the wallet received the 149 BTC it HODLed all these years, the value of the coins was pegged at $81,667 - sometime in 2013. With the valuation now coming in at more than $8.5 million, the whale has achieved one of the biggest trading profits in the market at this time.

From 2013 to the date when the whale exited dormancy, Bitcoin has seen a series of milestones. From the first major all-time high (ATH) above $17,000 in 2017 to more than $69,000 in November 2021, and recently $73,750, waiting on further action might just seem like too much for the whale.

Joining new Bitcoin era

Unlike many of the Bitcoin addresses that make their way back to the ecosystem, there is no sign of the funds transfer from this whale. It remains a tough task to determine where or when this Bitcoin address will choose to liquidate its holdings.

Should they decide to move the funds, there are many potential options to utilize the funds as the Bitcoin ecosystem has grown remarkably over the years. With DeFi on Bitcoin and Ordinals Inscription, there are multiple reasons why a delayed sell-off might pay off in the end.

At the time of writing, the Bitcoin price is up 1.89% in 24 hours to $58,681.74, a major succor after an extensive drawdown.

This article was originally published on U.Today

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