Massive Amount Of ‘Sleeping’ Bitcoin Moved After More Than 11 Years In Hibernation
March 11 2022 - 7:49AM
NEWSBTC
A large sum of money from a “Sleeping” Bitcoin was transferred
after being dormant for more than a decade. Since the crisis
between Russia and Ukraine and heightened pessimism about the
future of the global economy, cryptocurrency values have been
volatile. On Thursday, bitcoin’s price surged to a high of $42,592,
after a two-day low of $38,300. After a brief period of optimism,
BTC’s value returned to the $38K mark late Thursday. Related
Article | Billionaire Investor Says Crypto Outlook Is ‘Very
Bullish’ For Bitcoin However, despite the market’s volatility, an
old-school whale from 2010 opted to move a considerable amount of
bitcoins. The term “whale” refers to any entity that has a
considerable amount of tokens of a particular cryptocurrency.
Bitcoin Roused From Deep Slumber A transfer of roughly 489.091 BTC
valued at nearly $17 million from the bitcoin address “17QBW” has
just been tracked. When the transaction was executed at block
height 726,641 at 1:45 a.m., the blockchain parser Btcparser.com
spotted it on March 10 (UTC). A total of 5,111 bitcoins were
handled by the originating address from which the 1,000 BTC were
sent between September 6, 2010, and July 12, 2011. Even though the
429 BTC spent on March 10, 2022 was initially received at the same
time as the remaining 510.91 BTC, the owner waited more than a
decade to transfer the 429 BTC, which was spent two days later on
Halloween (October 31, 2010) that year. Crypto total market cap at
$1.746 trillion on the daily chart | Source: TradingView.com ETH
Whales Hold 2nd-Largest Stake in Crypto, Thanks To SHIB Meanwhile,
despite being labelled a meme-coin, Shiba Inu continues to create a
loud bark of sorts in the crypto field regularly. By the end of
2021, the platform’s user base had crossed the million-user mark.
Almost the last several years, SHIB has gained over 200,000 new
members. There are 1,198,043 Shiba Inu owners at the time of this
writing. The amount of Shiba Inu transactions above $100,000
continues to break all-time highs, according to IntoTheBlock data.
On February 9, the metric hit $389.89 million in revenue. Based on
the report, these transactions accounted for 81% of the entire
volume on the blockchain. Lifted By Whales SHIB’s success could not
have been achieved without the help of dominant whales. When SHIB
($1.4 billion) surpassed FTT ($1.36 billion), the FTX exchange’s
native coin, it became the largest cryptocurrency holder. SHIB is
currently the second-largest Ethereum whales’ holding. Since the
2010 transfer of the bitcoin in hibernation, there hasn’t been a
massive “awakening” of the crypto from that year — at least not
yet. Related Article | South Korea Has A New President – And He
Likes Crypto Featured image from AtoZ Markets, chart from
TradingView.com
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