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Dormant Bitcoin Whale Moves $353 Million After Five Years of Inactivity

According to Lookonchain, a long-inactive Bitcoin whale moved 3,000 BTC to a new wallet, while retaining holdings worth over $2.46 billion.

Summary

A Bitcoin whale holding 23,969 BTC, valued at $2.82 billion, has transferred 3,000 BTC worth $353.16 million to a new wallet after five years of dormancy, according to Lookonchain. The remaining 20,969 BTC, now valued at about $2.46 billion, remain in the original address.

Terms & Concepts
  • Bitcoin Whale: An individual or entity that holds a large amount of Bitcoin, capable of influencing market prices through significant transactions.
  • BTC: The ticker symbol for Bitcoin, the first and largest cryptocurrency by market capitalization.
  • Wallet Address: A unique string of characters used on a blockchain to receive and send cryptocurrency.