A large sum of money from a “Sleeping” Bitcoin was transferred after being dormant for more than a decade.
The cryptocurrency market has been volatile since the Ukraine-Russian crisis and increased pessimism over the future economic outlook,
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.
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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 is a result of deep slumber
A transfer of roughly 489.091 BTC valued at nearly $17 million from the bitcoin address “17QBW” has just been tracked.
Block height 726 641 was reached at 1:45 a.m. The blockchain parser Btcparser.com spotted this transaction March 10 (UTC).
Total 5,111 Bitcoins were processed by the address that sent the 1,000 BTC from September 6, 2010 to July 12, 2011.
Although the initial 429 BTC received on March 10, 2022 was at the same moment as the remaining 509.91 BTC in the wallet, the owner took more than 10 years to get the 429 BTC. It was only two days later, on October 31, 2010, that the owner spent it.
Source: TradingView.com| Source: TradingView.com
Thanks to SHIB, ETH Whales Have 2nd Largest Crypto Stake
Even though Shiba Iu is being called a meme-coin Shiba Inu still makes a noise in crypto world.
By the end of 2021, the platform’s user base had crossed the million-user mark. SHIB gained more than 200,000 members in the past few years.
At the time this article was written, there are 1,198.043 Shiba Inu homeowners.
According to IntoTheBlock data, the amount of Shiba Inu transactions exceeding $100,000 is still at an all-time record.
This metric generated $389.89 million revenue in February 2009. According to this report, 81% of all volume on blockchain was accounted for by these transactions.
Whales Lift Them
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.
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Featured Image from AtoZ Markets. Chart from TradingView.com