Connect with us

Bitcoin

After the Mid-November price high of Bitcoins

, hundreds of millions of ‘Sleeping Bitcoins” woke up

Hundreds of Millions Worth of 'Sleeping Bitcoins' Woke up After BTC's Mid-November Price High

On Sunday, December 19, a dormant address that received 235 bitcoin in 2013 was activated after more than nine years of sitting idle. Bitcoin’s price has dropped lower after reaching its all-time high on November 10, and throughout December, records show a great number of so-called ‘sleeping bitcoins’ have activated during this period.

Dormant addresses wake up after years of slumber

The day that bitcoin (BTC) tapped an all-time price high at $69K per unit on November 10, a miner from 2010 spent 1,000 sleeping bitcoins and 1,000 bitcoin cash (BCH) as well. The 1,000 bitcoins stemmed from 20 block rewards mined well over a decade ago in 2010. This same entity spent another 1,000 BTC and 1,000 BCH the following day. Additionally, a single block from 2010, worth 50 BTC or $2.3 million was spent on November 3.

Hundreds of Millions Worth of 'Sleeping Bitcoins' Woke up After BTC's Mid-November Price High
Sleeping bitcoins are addresses that hold BTC, but the coins have not moved in many years. In November 2021, about 2,000 BTC from 2010 was transferred by a mystery whale. The same mystery whale has spent tens of thousands of ‘sleeping bitcoin’ since mid-March 2020.

During the month of November, a total of 11 block rewards that were ten years old and mined in 2011, were activated and sent to new BTC addresses. That’s a total of 550 BTC worth $25.8 million using today’s bitcoin exchange rates. So far, for the month of December 2021, a total of four 2011 block rewards with 200 BTC worth $9.3 million was activated. There haven’t been any 2010 block rewards spent but seven blocks from 2012 were activated, 14 blocks from 2013, and five blocks from 2014.

Today, a dormant address from 2013 that originally had 235 bitcoin activated for the first time in 9.1 years by spending 100 BTC. *The address still has 135. 80 BTC and Blockchair’s privacy-o-meter explains the transaction was sent with 0 privacy score and had “critical” privacy concerns. One transaction vulnerability seen in the transaction was “matched addresses identified.” On Thursday, December 16, a dormant address containing 225 bitcoin was activated after 8.4 years. The address spent approximately 25 BTC worth $1.1 million and still holds 200 BTC. Both of these whale addresses did not spend the corresponding bitcoin cash (BCH) and bitcoinsv (BSV).

‘Waking up” Doesn’t Necessarily Denote ‘Sold ‘

On November 22, a dormant address that had 187 bitcoin sitting ide for eight years, moved 13 BTC and kept 174. 43 BTC sitting idle in the wallet. The wallet’s corresponding BCH and BSV still hold 187 coins each and were not spent. Two days prior, another wallet with sleeping bitcoins that sat for 8.1 years was activated on November 20. The whale address spent a whopping 1,299. 98 BTC that day worth $61 million today but it did not spend the 1,299 BCH and BSV.

Two more idle addresses with old bitcoins were activated during the month of November on the 10th and 11th. On November 11, an address with 234 BTC was activated after 7.5 years and unloaded 53. 16 BTC that day. The day before, when BTC tapped $69K per unit and the mystery whale spent 1,000 BTC from 2010, a dormant address from 2013 or 8.1 years ago was activated. The address moved 2,207. 60 BTC or $103.7 million worth of bitcoin using today’s exchange rates.

Whatever the reason, owners of old bitcoin wallets decided that they wanted to transfer their coins for a first time in many years. It is important to note that the words “spent” and “spend” do not necessarily imply that the bitcoins were sold to someone for fiat or some other crypto asset.

The so-called “sleeping Bitcoins” could have been sold, or simply transferred to other wallets. Lots of these wallets see coins move from legacy bitcoin addresses to addresses that support Segregated Witness (Segwit) addresses (Bech32). Although, most of the popular crypto exchanges worldwide support Bech32 addresses and many of these coins very well could have been sold for fiat.

Editors Note: After this article published, the dormant address with 235 BTC from 2013 sent the wallet’s entire stash and the wallet is now completely empty. (12/19/21 6: 00 p.m. EST).

What do you think about all the old wallets waking up after many years of sitting dormant in November and December 2021? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 4,900 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

Read More

Bitcoin

Introducing iFX EXPO Dubai 2025 – MENA’s No.1 B2B & B2C online trading event

Be part of the ultimate gathering of industry professionals in Dubai Mark your calendars! MENA’s most popular online trading event – iFX EXPO Dubai 2025 – returns to the region, with the latest instalment promising to be the biggest and best one yet. Taking place between January 14-16, 2025, at the Dubai World Trade Centre,…


Be part of the ultimate gathering of industry professionals in Dubai

Mark your calendars! MENA’s most popular online trading event – iFX EXPO Dubai 2025 – returns to the region, with the latest instalment promising to be the biggest and best one yet.

Taking place between January 14-16, 2025, at the Dubai World Trade Centre, the 2+ day exhibition is one of the largest B2B and B2C expos of its kind anywhere in the world, bringing together key players from across the globe. 

Whether you are a seasoned trader, new to the industry, or a business looking to grow your presence in MENA, iFX EXPO Dubai 2025 is set to be an unmissable event, with 7k+ professionals from 120+ countries set to be in attendance.

Building on the huge success of last year’s event, passholders will be able to access 13+ hours of insightful content across three stages, Speaker Hall, Idea Hub, and Traders Arena, featuring a stellar lineup of influential experts and visionary thinkers.

A must-attend event for traders 

iFX EXPO Dubai 2025 has cemented its reputation as a global meeting point for the online trading community, offering traders the chance to experience unparalleled networking opportunities and cutting-edge industry insights. 

It is a gateway to learning and growth, with all areas of the venue providing fantastic learning opportunities. The main expo floor will serve as the primary marketplace where traders can network with top brokers, access industry leaders, and explore the latest trading platforms and state-of-the-art technologies.

As well as the insightful speaker sessions, Q&As, and panel discussions featured at the Speaker Hall and Idea Hub, traders will be able to head to the Traders Zone, comprising the exclusive Traders Lounge and Traders Arena. 

The Traders Lounge serves as an important hub for collaboration, where traders from around the world can exchange insights, build relationships, and keep updated with the latest industry trends in a more informal setting. 

Meanwhile, the Traders Arena provides a dynamic stage for trading education and community building, offering an ideal environment for traders to learn, share, and grow within the world of online trading.

Business sponsorship and exhibitor opportunities

iFX EXPO Dubai 2025 presents FX and fintech firms with a unique opportunity to showcase their business to a target audience of thousands of attendees from across the industry, including brokers, traders, affiliates and IBs, liquidity providers, fintechs, prop firms, institutional investors, and more.

From start-ups to established companies, the event offers the ideal platform to promote their offerings and put their brand on the map through a range of exclusive sponsorship and exhibitor packages.

By becoming an official sponsor or exhibiting at a booth, companies can not only boost their visibility but also unlock greater opportunities to form strategic partnerships, generate leads, and drive business growth.

Due to high demand, there are limited booths and sponsorship slots available, meaning interested parties are encouraged to get in touch with the event organisers quickly to avoid disappointment.

For more information about how to sponsor or exhibit as a business, click here

Counting down to Dubai 

The excitement is already building, with January fast approaching. iFX EXPO Dubai 2025 is gearing up to be the biggest online trading event of the year in MENA, offering unmatched opportunities for traders and businesses alike. 

Early bird registration is now open, so don’t miss the chance to secure a spot at the event everyone will be talking about. To guarantee attendance at iFX EXPO Dubai 2025, click here.


Share this article

Categories

Read More

Continue Reading

Bitcoin

Uniswap unveils own layer-2 network Unichain, UNI price soars 11%

Uniswap has launched its layer-2 network called Unichain The OP Stack-powered L2 is in testnet and is designed to improve transaction speed, lower costs, and boost liquidity UNI token’s price surged to $8.14, its highest level in over two months Uniswap, a leading decentralized exchange platform, has announced a major development for its network and…


  • Uniswap has launched its layer-2 network called Unichain
  • The OP Stack-powered L2 is in testnet and is designed to improve transaction speed, lower costs, and boost liquidity
  • UNI token’s price surged to $8.14, its highest level in over two months

Uniswap, a leading decentralized exchange platform, has announced a major development for its network and ecosystem.

The news helped Uniswap’s native token UNI to soar double digits on Thursday.

On October 10, the Uniswap team revealed that the DEX platform was looking to launch its layer-2 network on Ethereum. The L2, dubbed Unichain, is earmarked for decentralized finance (DeFi).

Per the Uniswap Labs announcement, its a solution to transaction speed and costs for the exchange’s users. Also key to the launch is the question of liquidity.

Introducing @unichain — a new L2 designed for DeFi ✨

Fast blocks (250ms), cross-chain interoperability, and a decentralized validator network

Built to be the home for liquidity across chains pic.twitter.com/lqfJh6Ltio

— Uniswap Labs 🦄 (@Uniswap) October 10, 2024

Unichain is powered by Optimism’s OP stack and offers one-second block times. Sub-block times of 200-250 milliseconds is also part of the development.

Uniswap Labs wrote on X:

“This type of speed isn’t just great for UX, it also improves market efficiency and lowers value lost to MEV.”

Uniswap has partnered with OP Labs for native interoperability, with this enabling implementation of cross-chain messaging and cross-chain liquidity. The platforms plan to bolster the ecosystem’s connectivity with cross-chain swapping across the Uniswap interface and wallet.

According to details in today’s announcement, the Unichain testnet is live, while the mainnet will go live later in Q4, 2024.

UNI price soars 11%

Native Uniswap DEX token UNI is among the top gainers in the crypto market. This follows a price explosion for the cryptocurrency after the news emerged.

With most altcoins down on the day or struggling for upside, UNI spiked more than 11% to hit highs last seen in July 2024. The token’s surge to the multi-month high of $8.14 saw Uniswap rank as the top performing coin among top 100 coins by market cap.

UNI traded around $8.05 at the time of writing, still up by more than 9%.


Share this article

Categories

Tags

Read More

Continue Reading

Bitcoin

Fundstrat’s Tom Lee Predicts Bitcoin Bull Market Surge Due to Supply Shock

Tom Lee, CIO of Fundstrat Capital, a financial research firm, has predicted that the bitcoin bull market will continue in December and announced that the first cryptocurrency will reach “well over $100,000” by year-end. Tom Lee Forecasts Bitcoin Reaching $100,000 By Year’s End in All-Asset-Encompassing Bull Market The bull market predictions for bitcoin prices keep [……
Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.