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8,000 BTC “dormant” for more than five years moved to Binance
A Bitcoin wallet that had been dormant since 2018 transferred 8,000 BTC (over $535 million) to Binance, the largest exchange by trading volume. Lookonchain analysts drew attention to this.
The coins were purchased at the bottom of the bear market in December 2018 at a rate of $3,800. In total, they cost the investor more than $30.4 million.
According to an April report by Chainalysis and Fortune, 1.75 million Bitcoin wallets have been inactive for more than 10 years. They store 1,798,681 BTC (~$121 billion at the time of the report), which is 8.5% of the total emission.
This count does not include about 30,000 addresses associated with the creator of the first cryptocurrency, Satoshi Nakamoto.
Let’s remember that in May, two wallets that had been dormant for more than 10 years transferred 1000 BTC (~$61 million) to new addresses.
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