This recent activity follows a transfer of 5,000 BTC ($140 million) from an address that had been inactive for three years. Additionally, an address believed to be from the Nakamoto era recently transferred 1,005 BTC ($29.7 million).
Earlier this year, substantial transfers were also recorded. In September and January, Bitcoin addresses that had been dormant for extended periods moved 2,100 BTC ($56.3 million) and 15,000 BTC ($252.5 million), respectively.
As of Tuesday, Bitcoin’s price stands at $27,595, marking a slight increase of 1.1% over the past 24 hours. The cryptocurrency’s trading volume has reached $11.98 billion. According to data from CoinGecko, Bitcoin’s market cap is currently valued at $538.38 billion.
These large-scale movements from dormant addresses into active ones are part of a broader trend in the Bitcoin market. However, the implications of these transactions on the overall cryptocurrency market remain to be seen.
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Source: Cryptocurrency - investing.com
