U.Today – A long-dormant wallet was reactivated after 11.4 years, according to on-chain data. Crypto data tracker Whale Alert stated: “A dormant address containing 54 BTC ($3,274,741) was just activated after 11.4 years (worth $10,174 in 2013).”
In 2013, Bitcoin was worth around $10,174. Today, its value has skyrocketed to a staggering $3,274,741, a whopping 32,087% enhance.
The sudden reactivation of this wallet has fueled curiosity and speculation. Why would the owner decide to revive it now, after more than a decade of inactivity? The timing and reasons behind the sudden activation remain unknown, which makes the story even more intriguing.
Dormant Bitcoin wallets are often believed to belong to early Bitcoin adopters or miners.
The identity of the wallet owner, however, remains unknown, but the sudden activation has led to various speculations. It could be an early adopter who decided to take advantage of the huge profits; it could also be a forgotten wallet that was recently rediscovered; or perhaps the owner decided to move the funds to a more secure wallet.
Bitcoin Recovers $61,000
At the time of writing, BTC is up 0.35% in the past 24 hours to $61,048 after hitting an intraday high of $61,435. In recent days, bulls and bears have engaged in a fierce battle for Bitcoin’s price to push BTC beyond its 50-day SMA at $61,436.
The cryptocurrency market has been rallying over the past 24 hours as investors await key comments from Federal Reserve Chairman Jerome Powell.
Powell is scheduled to deliver a highly anticipated speech in Jackson Hole today, Friday, and market participants are expecting novel details about the US central bank’s plans to cut interest rates.
Earlier this week, minutes from the Federal Reserve’s July meeting revealed that a “vast majority” of central bank officials “noted that if data continues to flow in line with expectations, it would likely be appropriate to ease policy at the next meeting.”
