March Awakens Bitcoin’s Sleeping Giants: Vintage BTC Sees Unprecedented Activity
March Awakens Bitcoin’s Sleeping Giants: Vintage BTC Sees Unprecedented Activity
In the month of March, bitcoin has notably maintained its position above the $60,000 threshold, leading to an uptick in activity among long-term holders. This period has seen the awakening of dormant bitcoin wallets, some of which had not been accessed for an extensive duration, signaling a significant moment for transactions involving these historical assets.
Remarkable Movements from Bitcoin’s Oldest Accounts
One of the most significant movements this month included the transfer of 3,000 BTC from 60 wallets that were established back in 2010. Following this, an entity associated with 2015 moved 2,352 BTC, marking these coins’ first movement since the wallets were initially created.
The flurry of activity extended into March 13, with a substantial amount of bitcoins from the years 2013, 2016, and 2017 being activated after lengthy periods of inactivity. For instance, during block heights 834,426 and 834,427, 342.75 BTC were moved from 12 wallets that date back to February 2013.
Additionally, in the next block sequence at height 834,428, another transaction witnessed the movement of a 50 BTC coinbase reward from 2010. On March 14, 2024, 1,709.43 bitcoins stored in wallets since December 2017 were transferred, marking their first movement at block heights 834,713 and 834,714.
Between March 14 and 19, transactions showcased the mobilization of bitcoins from the years 2013 to 2017, emerging from their dormant state. The activity involving these historic BTC transactions in March has notably surpassed those in the previous months of January and February 2024.
A recent transaction observed two days ago by btcparser.com highlighted a 2016 holder moving 860.45 BTC at block height 835,657, demonstrating the first sign of activity after several years. The next day, 103.97 BTC from a dormant 2017 wallet was moved at block height 835,721.
Moreover, on March 23, a total of 378.99 vintage bitcoins from 2014 were transferred at block height 835,990. Current data from intotheblock.com shows that 93% of BTC holders are currently in a profitable position given the existing market values.
Beyond the activation of dormant bitcoins, the month has also observed significant whale transactions, with BTC transfers exceeding $100,000 amounting to $156.6 billion over the last week alone.
Bookmark and Follow us for More Business News
