A long-unused bitcoin address since 2011 has recently returned to active activity, prompting the market to focus on the long-term developments. Galaxy Research stated that the address had transferred 8.54 BTCs at block 962770, valued at approximately US$ 538 million at current prices.
The warehouse has not moved since 2011
The chain records that the bitcoin entered the address first on June 13, 2011 and has not been transferred for more than 15 years. According to Galaxy Research, the cost for the year in question was approximately $14 per unit.
At current prices, this transfer represents a realized surplus of approximately $538 million, an increase of approximately 461,981 per cent. Such long-term silenced addresses recover active and are usually seen by the market as a chain signal of concern.
More than a month ago, an ancient address was activated.
In addition to this bitcoin transfer, there have been several long-silent wallets that have been active in the past month.
- On 12 August, a silent 11-year Etherak pre-drilling address was activated, holding 2,680 ETHs, valued at approximately $5.05 million.
- On 9 August, another pre-drilling address, valued at approximately $3.84 million, was restored to active capacity with 2,000 ETH.
- On 3 August, a silent, approximately 12.7-year-old Bitcoin address was found to be moving, holding 500 BTCs, valued at approximately $31.3 million.
Another pre-drilling address with 2,000 ETH also resumed active on 26 July, with a corresponding value of approximately $3.83 million.
An alien doesn't necessarily mean a sale.
The transfer of a long unused address does not necessarily mean that the holder is prepared to sell the asset. Such operations may also be related to the replacement of wallet structures, the upgrading of security or the repositioning of warehouses.
However, the movement of ancient addresses often leads to market concerns about potential sales pressure and the behaviour of early currency holders, especially when Bitcoin prices are at a high level.