U.Today – According to online data, a dormant wallet that had remained untouched for over a decade has suddenly come to life.
Blockchain data tracker Whale Alert reported that “a dormant address containing 150 BTC ($9,831,428) has just been activated after 10.5 years.”
This activation adds to a growing trend of antique Bitcoin wallets being reawakened in recent weeks, sparking curiosity and speculation in the crypto community.
Dormant wallets, especially those holding enormous amounts of Bitcoin, are often associated with early adopters or miners who purchased or mined BTC at a time when the cryptocurrency was worth just a fraction of its current price.
While the identity of the wallet owner remains unknown, the awakening of such dormant addresses often fuels speculation. Some wonder whether these long-term holders are investing in assets, preparing to sell or moving their assets to safer locations in response to broader market movements.
The recent surge in dormant wallet activity highlights the enormous gains that early Bitcoin holders have made: what was once a diminutive sum has now become a fortune. As more antique whales re-enter the market, their movements will likely continue to be closely monitored in the coming days.
Bitcoin price action
At the time of writing, BTC is up 0.48% in the last 24 hours to $65,806. Bitcoin hit a high of $66,550 on Friday, the highest amount since early August.
Bitcoin has surged 56% in 2024, driven by inflows into U.S.-listed Bitcoin exchange funds, but lags March’s high of $73,798. BTC is up nearly 11.31% this month, compared to an average September decline of 5.9% over the past decade.
The largest cryptocurrency by market capitalization is on track for one of its strongest September gains as a global wave of interest rate cuts, led by the U.S. Federal Reserve, helps it break through the seasonal chaos.
