Massive Amount Of ‘Sleeping’ Bitcoin Moved After More Than 11 Years In Hibernation – 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, bitcoins price surged to a high of $42,592, after a two-day low of $38,300.

After a brief period of optimism, BTCs value returned to the $38K mark late Thursday.

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However, despite the markets 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.

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.

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 platforms 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.

SHIBs success could not have been achieved without the help of dominant whales.

When SHIB ($1.4 billion) surpassed FTT ($1.36 billion), the FTX exchanges 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 hasnt been a massive awakening of the crypto from that year at least not yet.

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Massive Amount Of 'Sleeping' Bitcoin Moved After More Than 11 Years In Hibernation - NewsBTC