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Dormant Bitcoin Wallet Moves $19 Million to Gemini After Eight Years

On February 3, blockchain data revealed an eight-year-inactive Bitcoin address transferred 243 BTC to Gemini, highlighting renewed movement among long-term holders.

BTC

Summary

Onchain Lens reported that on February 3, a dormant Bitcoin wallet identified as '3BTqd' moved 243 BTC, valued at approximately $19.15 million, to the Gemini exchange after remaining inactive for eight years. Such activity from long-term holders may indicate profit-taking or portfolio shifts amid heightened market attention.

Terms & Concepts
  • Dormant Wallet: A cryptocurrency wallet that has shown no transaction activity for a long period of time.
  • Gemini Exchange: A U.S.-based cryptocurrency exchange founded by Cameron and Tyler Winklevoss, offering trading and custody services for digital assets.
  • Onchain Analysis: The examination of blockchain data such as transactions and wallet activity to interpret investor behavior and market trends.