Article source: Yuliya
Original text: Bitquery
Compiled by: Yuliya, PANews
In 2024, the Bitcoin blockchain once again brought unexpected surprises—multiple Bitcoin wallets that had been inactive for over ten years suddenly reactivated. These wallets, dormant for many years, suddenly transferred large amounts of Bitcoin, triggering widespread attention and discussion in the cryptocurrency field. There are many speculations about why these wallets have been reactivated, especially in cases involving large transactions.
Entering 2025, these reactivated wallets not only remind the market of Bitcoin's long-term value but also highlight the unpredictable dynamics that the Bitcoin network can still bring after many years. This article will focus on analyzing the top ten most influential Bitcoin whale wallets that have reactivated, exploring various possible reasons behind these activities, and analyzing how they may potentially impact market sentiment, pricing, and the dynamic development of the entire crypto ecosystem.
What is a dormant wallet?
Dormant wallets refer to Bitcoin addresses that have not engaged in transactions or fund transfers for a long time, often lasting for many years or even over a decade. These wallets remain inactive for extended periods, neither accepting new funds nor transferring out assets.
When such wallets suddenly activate and transfer funds, the market generally develops a keen interest in the reasons for the activation. This may occur due to the holder recovering lost private keys, changes in ownership, or the holder deciding to leverage accumulated Bitcoin wealth.
Such situations usually trigger market fluctuations and may affect Bitcoin prices, while also sparking speculation about the identity of the wallet holder and the stories behind them.
Analysis of significant wallet reactivations in 2024
In 2024, several instances of Bitcoin dormant wallets reactivating drew significant market attention. These wallets remained stagnant for over a decade until suddenly making large transactions last year.
The following are some of the most representative dormant wallet activation events of 2024, analyzed by transaction amount.
High-value transfer cases (1,000+ BTC)
1. Address: 1EhXAfSTJbfpzJp9AQCrWHAPTnqWFgeEQv
Last active time: September 25, 2012
Reactivation time: July 14, 2024
Transaction hash: 26b443120d7eb8ea65ff9028d2285d57d258aabe742d4eae320f83ca856c6bd3
Total income: 1,000 BTC (approximately $12,000 at the time)
Total expenditure: 1,000 BTC (approximately $60 million at the time of transfer)
Final balance: 0 BTC
Analysis:
This wallet had been dormant since September 2012 until it suddenly transferred 1,000 BTC to two new addresses on July 14, 2024. This suggests that the wallet holder may have regained access or decided to sell or redistribute assets. At the time of the wallet's Bitcoin holdings, the unit price was around $12.06, making the value of this transaction nearly 5,000 times higher. This transfer is viewed as a typical whale wallet transaction, potentially influencing market sentiment.
2. Address: 1B1o9yxkweyh7zbjC5EpGNPLDWHsD33NpM
Last active time: November 24, 2013
Reactivation time: July 5, 2024
Transaction hash: 516b62b3a7317e519f80d4251cd58dc1aa55dbba40956658542f7a71069824c8
Total income: 1,004 BTC (approximately $737,000 at the time)
Total expenditure: 1,004 BTC (approximately $57 million at the time of transfer)
Final balance: 0 BTC
Analysis:
This wallet transferred all 1,004 BTC to a new address on July 5, 2024, after being dormant for 10.6 years. The purchase cost of Bitcoin was approximately $731, with the transfer amount appreciating nearly 78 times its original cost. This may indicate that the holder plans to cash out, consolidate funds, or redistribute Bitcoin assets.
Medium-value transfer cases (100-500 BTC)
3. Address: 16vRqAJ1wfuFBkVMabKnZHLkeN3uwqjzEa
Last active time: September 13, 2013
Reactivation time: May 12, 2024
Transaction hash: e1c74b4d915589a5f14216d3f4587e54d6920d3885e289e54b8ae09099917760
Total income: 500 BTC (approximately $62,000 at the time)
Total expenditure: 500 BTC (approximately $30.45 million at the time of transfer)
Final balance: 0 BTC
Analysis:
This wallet was reactivated after 10.7 years of dormancy, transferring 500 BTC, worth over $30 million. Its initial funding originated in 2013, when Bitcoin was purchased at a price of about $124. The synchronized activation of the wallet indicates that this may involve operations from multiple addresses of the same holder, potentially for consolidating or liquidating assets.
4. Address: 1DUJuHGVT4sa1VMGjfF9YdFnFAEw6NgfC5
Last active time: September 12, 2013
Reactivation time: May 12, 2024
Transaction hash: a5d5e5139cb4c2b1833dfb428913a6560129f72252cec0173d730bdce99a0e1f
Total income: 500 BTC (approximately $62,000 at the time)
Total expenditure: 500 BTC (approximately $30.45 million at the time of transfer)
Final balance: 0 BTC
Analysis:
This wallet was activated and completed transactions at the same time, showing a correlation with the wallet 16vRqAJ. This further proves that these addresses may belong to the same entity or individual, and that they decided to move assets in sync under favorable market conditions.
5. Address: 18qkWda6Stn4DV5JtFXZG72bep7sccdT5b
Last active time: June 6, 2012
Reactivation time: November 17, 2024
Transaction hash: 2844692fc8a017816486dd83588a67963ecfbe67e9bdf263cef618f886f2ecd2
Total income: 400 BTC (approximately $2,180 at the time)
Total expenditure: 399 BTC (approximately $27.17 million at the time of transfer)
Final balance: 1 BTC
Analysis: This early miner wallet reactivated after 12 years of dormancy, transferring most of its Bitcoin to new wallets and the Bitstamp exchange, with 299 BTC going to a new wallet and 100 BTC to the exchange. The value has increased over 12,000 times from the initial purchase price to now. The portion transferred to the exchange may be for liquidation, while the Bitcoin retained in the new wallet may be for long-term holding.
6. Address: 1FBx7iywAN5p842yjq1HRBWRkKEpKgFwzM
Last active time: January 31, 2012
Reactivation time: October 11, 2024
Transaction hash: 7eb801033c9202dd8501c5b7492467f5342f6cf98d9686d45e6700a60e95cada
Total income: 100 BTC (approximately $551 at the time)
Total expenditure: 12 BTC (approximately $722,000 at the time)
Final balance: 88 BTC
Analysis:
This wallet reactivated after sleeping for 12.7 years, transferring only a portion of its holdings, moving 12 BTC (approximately $722,000) split into three new wallets of 5 BTC, 5 BTC, and 2 BTC. Initially funded with 100 BTC (approximately $551) in January 2012 when Bitcoin was priced at $5.51, the value has since skyrocketed. Notably, the wallet still retains 88 BTC (approximately $5.28 million), indicating that this may have been a strategic partial transfer rather than a complete liquidation.
Minor fluctuations (>100 BTC)
7. Address: 1C4rE41Kox3jZbdJT9yatyh4H2fMxP8qmD
Last active time: January 29, 2009
Reactivation time: September 20, 2024
Transaction hash: 8bee6dbdbc09253ffbe51e35a910ef39428fc2ca05aa39ce0f1adaebbf8f2cfe
Total income: 50.00001094 BTC (approximately $0.16 at the time)
Total expenditure: 50 BTC (approximately $3.19 million at the time of transfer)
Final balance: 0.00001094 BTC (~$0.64)
Analysis:
This is an early miner wallet that received block rewards shortly after the Bitcoin network was established. Reactivated after 15.7 years of silence, it nearly transferred all funds, leaving only a tiny balance. From an initial value of $0.16 to $3.19 million, the reactivation of this wallet indicates that early miners may have taken strategic actions.
8. Address: 1CGT3Ywaa2upJfWtUtbXonDPNTfZPWqzmA
Last active time: February 2, 2009
Reactivation time: September 20, 2024
Transaction hash: d52f4890ac3f0cf699e3187b08ba6376c4d6efbe53add15bbcc3b96b604ecec7
Total income: 50.00000547 BTC (approximately $0.06 at the time)
Total expenditure: 50 BTC (approximately $3.19 million at the time of transfer)
Final balance: 0.00000547 BTC (~$0.32)
Analysis:
This wallet was activated after 15.6 years of dormancy, transferring almost all funds to a new address. As a wallet of an early participant in the Bitcoin network, its transfer behavior may be due to security considerations or a need for liquidation. This transaction once again confirms that the activity of early Bitcoin holders is on the rise in 2024.
9. Address: 1FHft3AFk9Zrdhk2HccSb97AgDNDsFhGuV
Last active time: July 12, 2010
Reactivation time: October 25, 2024
Transaction hash: 86df0c812d1d72d32f1169bdf1216e5d3ed862f7dee91a3b5e77646c185419aa
Total income: 50.00000547 BTC (approximately $0.17 at the time)
Total expenditure: 50 BTC (approximately $3.39 million at the time of transfer)
Final balance: 0.00000547 BTC (~$0.32)
Analysis:
This wallet reactivated after 14.3 years, diversifying funds to two new addresses. This strategy of diversification may be due to risk management or financial planning considerations.
10. Address: 18E5d2wQdAfutcXgziHZR71izLRyjSzGSX
Last active time: January 30, 2009
Reactivation time: September 20, 2024
Transaction hash: 6ce746e19b16f84abc6f5344225050a5b16e3d56aac72e0b7bd642c53c13716d
Total income: 50.00001094 BTC (approximately $0.31 at the time)
Total expenditure: 50 BTC (approximately $3.19 million at the time of transfer)
Final balance: 0.00001094 BTC (~$0.64)
Analysis: This early miner wallet reactivated after 15.6 years of dormancy, transferring most of its funds to a new wallet. From an initial value of $0.31 to $3.19 million, the transfer of these funds may be due to multiple considerations, including preparing for liquidation or enhancing asset security.
Core insights
In 2024, similar phenomena occurred multiple times on the Bitcoin blockchain, with several long-dormant early wallets being activated in succession. These wallets received funding when Bitcoin was worth just a few cents and have now appreciated to millions of dollars, making each transfer a focal point in the cryptocurrency market.
Observing where these large transfers go reveals that some funds flowed to new Bitcoin addresses, with a significant amount transferred to exchanges. These trends may suggest that funds are about to be liquidated or redistributed. Reasons prompting these early holders to act may include regaining access to private keys, changes in ownership, or simply deciding to realize investment returns after years of waiting.
The awakening of these dormant wallets not only showcases the durability of Bitcoin as a store of value but also reveals many intriguing anecdotes hidden in Bitcoin's early history. Even after 15 years of development, the Bitcoin ecosystem remains filled with astonishing stories, and the activities of these early participants continue to influence the current market dynamics.
