10.04.2024

Bitcoins that have been dormant for several years are coming out of hibernation en masse

Throughout March, bitcoin has consistently remained above the $60,000 mark. Against the backdrop of the asset’s appreciation, many longtime holders began transferring significant amounts of BTC from so-called “dormant” wallets that had been inactive for several years.

One of the largest transactions was made by a user who moved 3,000 BTC from 60 wallets created in 2010. Following him, a user from 2015 “woke up” and moved more than 2352 BTC, which was the first movement of these funds since the creation of both wallets.

The movement of old coins did not end there: 24 hours later on March 13, a significant amount of BTC from 2013, 2016 and 2017 came out of the multi-year “hibernation”. For example, at block heights of 834,426 and 834,427, a user transferred a total of 342.75 BTC from 12 wallets created in February 2013.

On the same day in the next block height of 834,428, another user transferred a Coinbase reward of 50 BTC received in 2010. On March 14, 2024, at block heights 834713 and 834714, 1,709.43 BTC from wallets created in December 2017 were moved for the first time.

From March 14 to March 19, transactions involved bitcoins from 2013, 2014, 2015, 2016 and 2017. In March, the number of transactions involving “vintage” BTC far exceeded the number of transactions from dormant wallets in January and February 2024.

A couple days ago, btcparser.com discovered a transaction in which a wallet from 2016 moved 860.45 BTC at block height 835,657, its first activity in years. The next day at block height 835,721, 103.97 BTC was moved from a wallet inactive since 2017.

On Saturday, March 23, a total of 378.99 vintage BTC from 2014 was moved at block height 835,990. Data from Intotheblock.com shows that 93% of BTC holders are currently making a profit.

In addition to the movement of dormant bitcoins, large cryptocurrency transactions have been frequent during this month. In the last week alone, the volume of BTC transactions, each exceeding $100,000, totaled $156.6 billion.

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Коля Мельниченко

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