Original author: Bitquery
Original translation: Yuliya, PANews
In 2024, the Bitcoin blockchain once again brought an unexpected surprise - multiple Bitcoin wallets that had been inactive for more than a decade suddenly restarted. These wallets had been silent for many years, and suddenly transferred a large amount of Bitcoin, which aroused widespread attention and discussion in the cryptocurrency field. The market has a lot of speculation about why these wallets were reactivated, especially those involving large transactions.
As we enter 2025, these reactivated wallets not only remind the market of the long-term value of Bitcoin, but also highlight that the Bitcoin network can still bring unpredictable dynamics after many years. This article will focus on analyzing the top ten most influential Bitcoin whale wallet reactivation cases, deeply explore the multiple possible reasons behind these activities, and analyze how they can potentially affect market sentiment, pricing, and the dynamic development of the entire crypto ecosystem.
What is a dormant wallet?
A dormant wallet refers to a Bitcoin address that has not had any transactions or fund transfers for a long time, typically lasting for years or even over a decade. These wallets remain inactive for a long period, neither receiving new funds nor transferring out assets.
When such wallets suddenly activate and transfer funds, the market tends to show a strong interest in the reasons behind the activation. This may be due to the holder recovering a lost private key, changes in ownership, or the holder deciding to utilize accumulated Bitcoin wealth.
Such situations often trigger market volatility and may affect Bitcoin prices, while also sparking speculation about the identity of the wallet holder and the stories behind it.
Analysis of key wallet reactivations in 2024
In 2024, multiple events of dormant Bitcoin wallets reactivating have attracted significant market attention. These wallets remained inactive for over a decade until suddenly making large transactions last year.
The following are some of the most representative dormant wallet activation events in 2024, classified by transaction amount.
High-value transfer cases (1,000+ BTC)
1. Address: 1EhXAfSTJbfpzJp9AQCrWHAPTnqWFgeEQv
Last Active Time: September 25, 2012
Reactivation Date: July 14, 2024
Transaction Hash: 26 b 443120 d 7 eb 8 ea 65 ff 9028 d 2285 d5 7 d 258 aabe 74 2d 4 eae 320 f 83 ca 856 c 6 bd 3
Total Income: 1,000 BTC (approximately $12,000 at the time)
Total Expenditure: 1,000 BTC (approximately $60 million at the time)
Final Balance: 0 BTC
Analysis:
This wallet has been dormant since September 2012, only to suddenly transfer 1,000 BTC to two new addresses on July 14, 2024. This indicates that the wallet holder may have regained access or decided to sell or redistribute assets. At the time of holding Bitcoin, the unit price was approximately $12.06, and the value of this transaction has increased nearly 5,000 times. This transfer is viewed as a typical whale wallet transaction and may have a certain impact on market sentiment.
2. Address: 1B1o9yxkweyh7zbjC5EpGNPLDWHsD33NpM
Last Active Time: November 24, 2013
Reactivation Date: July 5, 2024
Transaction Hash: 516 b 62 b 3a 7317 e 519 f 80 d 4251 c d5 8 dc 1 aa 55 dbba 40956658542 f 7 a 71069824 c 8
Total Income: 1,004 BTC (approximately $737,000 at the time)
Total Expenditure: 1,004 BTC (approximately $57 million at the time)
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 acquisition cost of Bitcoin was approximately $731, and the transfer amount has increased nearly 78 times over the 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 Date: May 12, 2024
Transaction Hash: e 1 c 74 b 4 d 915589 a 5 f 14216 d 3 f 4587 e 54 d 6920 d 3885 e 289 e 54 b 8 ae 09099917760
Total Income: 500 BTC (approximately $62,000 at the time)
Total Expenditure: 500 BTC (approximately $30.45 million at the time)
Final Balance: 0 BTC
Analysis:
After 10.7 years of dormancy, this wallet became active again, transferring 500 BTC, valued at over $30 million. The initial funds came from 2013, when Bitcoin was purchased at approximately $124. The simultaneous activation of the wallet indicates that this may be an operation involving multiple addresses of the same holder, possibly for consolidation or liquidation of assets.
4. Address: 1DUJuHGVT4sa1VMGjfF9YdFnFAEw6NgfC5
Last Active Time: September 12, 2013
Reactivation Date: May 12, 2024
Transaction Hash: a 5 d5 e 5139 cb 4 c 2b 183 3d fb 42891 3a 6560129 f 7225 2c ec 017 3d 730 bdce 99 a 0 e 1 f
Total Income: 500 BTC (approximately $62,000 at the time)
Total Expenditure: 500 BTC (approximately $30.45 million at the time)
Final Balance: 0 BTC
Analysis:
This wallet activated and completed the transaction at the same time, showing a correlation with the 16vRqAJ wallet. This further confirms that these addresses may belong to the same entity or individual, deciding to synchronize the movement of assets under favorable market conditions.
5. Address: 18qkWda6Stn4DV5JtFXZG72bep7sccdT5b
Last Active Time: June 6, 2012
Reactivation Date: November 17, 2024
Transaction Hash: 2844692 fc 8 a 017816486 dd 83588 a 67963 ecfbe 67 e 9 bdf 263 cef 618 f 886 f 2 ecd 2
Total Income: 400 BTC (approximately $2,180 at the time)
Total Expenditure: 399 BTC (approximately $27.17 million at the time)
Final Balance: 1 BTC
Analysis: This wallet reactivated after 12 years of dormancy, allocating most of its Bitcoin to a new wallet and Bitstamp exchange, with 299 BTC transferred to the new wallet and 100 BTC to the exchange. The value has increased over 12,000 times from the initial purchase price. The portion transferred to the exchange may be for cashing out, while the Bitcoin retained in the new wallet may be for long-term holding.
6. Address: 1FBx7iywAN5p842yjq1HRBWRkKEpKgFwzM
Last Active Time: January 31, 2012
Reactivation Date: October 11, 2024
Transaction Hash: 7 eb 801033 c 920 2d d 8501 c 5 b 7492467 f 5342 f 6 cf 98 d 9686 d 45 e 6700 a 60 e 95 cada
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 12.7 years of dormancy, transferring only a portion of its holdings, sending 12 BTC (approximately $722,000) in transfers of 5 BTC, 5 BTC, and 2 BTC to three new wallets. In January 2012, when Bitcoin was priced at $5.51, this wallet initially credited 100 BTC (approximately $551), and its value has since skyrocketed. Notably, the wallet still retains 88 BTC (approximately $5.28 million), indicating that this may be a strategic partial transfer rather than a full liquidation.
Slight fluctuations (>100 BTC)
7. Address: 1C4rE41Kox3jZbdJT9yatyh4H2fMxP8qmD
Last Active Time: January 29, 2009
Reactivation Date: September 20, 2024
Transaction Hash: 8 bee 6 dbdbc 09253 ffbe 51 e 35 a 910 ef 39428 fc 2c a 05 aa 39 ce 0 f 1 adaebbf 8 f 2c fe
Total Income: 50.00001094 BTC (approximately $0.16 at the time)
Total Expenditure: 50 BTC (approximately $3.19 million at the time)
Final Balance: 0.00001094 BTC (~ $0.64)
Analysis:
This is an early miner wallet that received block rewards shortly after the establishment of the Bitcoin network. After 15.7 years of dormancy, it reactivated, transferring almost all funds and leaving a minimal balance. The value increased from an initial $0.16 to $3.19 million, indicating that the early miner may have taken strategic action.
8. Address: 1CGT3Ywaa2upJfWtUtbXonDPNTfZPWqzmA
Last Active Time: February 2, 2009
Reactivation Date: September 20, 2024
Transaction Hash: d5 2 f 4890 ac 3 f 0 cf 699 e 3187 b 08 ba 6376 c 4 d 6 efbe 5 3a dd 15 bbcc 3 b 96 b 604 ecec 7
Total Income: 50.00000547 BTC (approximately $0.06 at the time)
Total Expenditure: 50 BTC (approximately $3.19 million at the time)
Final Balance: 0.00000547 BTC (~ $0.32)
Analysis:
This wallet was activated after 15.6 years of dormancy, transferring nearly all funds to new addresses. As a wallet of an early participant in the Bitcoin network, its transfer behavior may be due to security concerns or a need for cashing out. This transaction further confirms the increasing activity of early Bitcoin holders in 2024.
9. Address: 1FHft3AFk9Zrdhk2HccSb97AgDNDsFhGuV
Last Active Time: July 12, 2010
Reactivation Date: October 25, 2024
Transaction Hash: 86 df 0 c 81 2d 1 d 7 2d 32 f 1169 bdf 1216 e 5 d 3 ed 862 f 7 dee 91 a 3 b 5 e 77646 c 185419 aa
Total Income: 50.00000547 BTC (approximately $0.17 at the time)
Total Expenditure: 50 BTC (approximately $3.39 million at the time)
Final Balance: 0.00000547 BTC (~ $0.32)
Analysis:
This wallet became active again after 14.3 years, transferring funds to two new addresses. This strategy of dispersed transfers may be due to risk management or financial planning considerations.
10. Address: 18E5d2wQdAfutcXgziHZR71izLRyjSzGSX
Last Active Time: January 30, 2009
Reactivation Date: September 20, 2024
Transaction Hash: 6 ce 746 e 19 b 16 f 84 abc 6 f 5344225050 a 5 b 16 e 3 d5 6 aac 72 e 0 b 7 bd 64 2c 53 c 13716 d
Total Income: 50.00001094 BTC (approximately $0.31 at the time)
Total Expenditure: 50 BTC (approximately $3.19 million at the time)
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, it has appreciated to $3.19 million, and the transfer of these funds may be for multiple considerations, including preparing for cashing out or enhancing asset security.
Core Insights
In 2024, similar phenomena have occurred multiple times on the Bitcoin blockchain, with several dormant early wallets reactivating one after another. These wallets received funds when Bitcoin was worth just a few cents and are now valued at millions of dollars, making each transfer a focal point in the cryptocurrency market.
Observing the destinations of these large transfers reveals that part of the funds flowed to new Bitcoin addresses, while a considerable amount was transferred to exchanges. These movements may suggest that the funds are about to be cashed out or redistributed. The reasons prompting these early holders to act may include regaining access to private keys, changes in ownership, or simply a decision to realize 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 the early history of Bitcoin. Even 15 years after its development, the Bitcoin ecosystem remains filled with astonishing stories, and the activities of these early participants continue to influence the current market dynamics.
