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“Sleeping Bitcoins” worth hundreds of millions woke up after the BTC price high in mid-November – – Crypto News

On Sunday, December 19, a dormant address that had received 235 bitcoins in 2013 was activated after being idle for more than nine years. Bitcoin’s price has fallen after reaching its all-time high on November 10th, and records throughout December show that a large number of so-called “dormant bitcoins” were activated during this period.

Sleeping addresses wake up after years of sleep

The day on which Bitcoin (BTC) hit an all-time high of $ 69,000 per unit on Nov. 10, a miner from 2010 Spent 1,000 sleeping bitcoins and 1,000 Bitcoin Cash (BCH) such as. The 1,000 bitcoins came from 20 block rewards that were mined well over a decade ago in 2010. Same entity spent another 1,000 BTC and 1,000 BCH On the next day. In addition, a single block from 2010 worth 50 BTC or $ 2.3 million was spent on November 3rd.

Sleeping bitcoins are addresses that last BTCbut the coins haven’t moved in many years. In November 2021 around 2,050 BTC from 2010 was broadcast by a mystery whale. The same mystery whale has issued tens of thousands of “sleeping bitcoin” since mid-March 2020.

In November, a total of 11 block rewards, which were ten years old and mined in 2011, were activated and sent to new ones BTC Addresses. That’s a total of 550 BTC valued at $ 25.8 million at today’s bitcoin exchange rates. So far for the month of December 2021 a total of four 2011 block rewards with 200 BTC worth $ 9.3 million was capitalized. No block rewards were issued for 2010, but seven blocks from 2012 were activated, 14 blocks from 2013 and five blocks from 2014.

Today a dormant address from 2013 that originally had 235 Bitcoin activated for the first time in 9.1 years by spending 100 BTC. The address still has 135.80 BTC and Blockchair’s privacy-o-meter states that the transaction was sent with a privacy score of 0 and had “critical” privacy concerns. One transaction vulnerability found in the transaction was “matching addresses identified”. On Thursday, December 16, a dormant address with 225 bitcoins was activated after 8.4 years. the address spent about 25 BTC Worth $ 1.1 million and still holds 200 BTC. These two whale addresses have not issued the corresponding one Bitcoin Cash (BCH) and Bitcoinsv (BSV).

“Wake up” does not necessarily mean “sold”

On November 22nd a dormant address that had 187 bitcoins for eight years was around 13 BTC and held 174.43 BTC sitting idly in your wallet. The appropriate wallet BCH and BSV each still hold 187 coins and have not been issued. Two days earlier, on November 20, another wallet with sleeping bitcoins was activated, which stood for 8.1 years Whale address a whopping 1,299.98. issued BTC $ 61 million on that day, worth $ 61 million today, but the 1,299 were not issued BCH and BSV.

During the month of November on November 10th and 11th, two more inactive addresses were activated with old Bitcoins. On November 11th an address with 234 BTC was activated after 7.5 years and discharged 53.16 BTC that day. The day before if BTC tapped $ 69,000 per unit and the mysterious whale gave 1,000. out BTC from 2010, a dormant address was activated from 2013 or 8.1 years ago. The address has been shifted by 2,207.60 BTC or Bitcoin worth $ 103.7 million at today’s exchange rates.

Anyway, the owners of very old Bitcoin wallets decided to transfer their coins for the first time in many years. It’s worth noting that the terms “spent” or “spent” in this article do not necessarily mean that the bitcoins were “sold” to a third party for fiat or other crypto-asset.

The so-called “sleeping bitcoins” could have been sold or simply transferred to different wallets. Many of these wallets move coins from legacy Bitcoin addresses to addresses that support Segregated Witness (Segwit) addresses (Bech32). Although most of the popular crypto exchanges around the world support Bech32 addresses and many of these coins could have sold very well for Fiat.

What do you think of all those old wallets waking up after many years of sleeping in November and December 2021? Let us know what you think on this matter in the comments below.

“Sleeping Bitcoins” worth hundreds of millions woke up after the BTC price high in mid-November – – Crypto News, Crypto Trading News

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 4,900 articles for Bitcoin.com News on the disruptive protocols emerging today.




Photo credits: Shutterstock, Pixabay, Wiki Commons


Source: Crypto News Austria

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