Dormant Bitcoin Wallet Awakens After 11 Years: Details

U.Today - According to on-chain data, a Bitcoin address that had been dormant for 11.6 years has been reactivated. According to Blockchain data tracker Whale Alert, the address contains 11 BTC, presently worth over $1,071,468.

Whale Alert reported some hours ago: "A dormant address containing 11 BTC worth 1,071,468 has just been activated after 11.6 years."

The reactivation of such an old address has sparked curiosity and speculation within the cryptocurrency community. The activation of dormant wallets often garners significant attention due to their association with early adopters or long-term holders.

The owner's identity remains unknown, and so are their reasons for reactivating the address. It could be an early adopter who has decided to cash in on their investment; on the other hand, it might be part of a market strategy or even a security measure.

Several dormant accounts coming to lifeOn-chain data reveals similar patterns from other wallets, with several long-dormant Bitcoin wallets coming back to life in recent weeks.

On Nov. 30, two dormant Bitcoin addresses containing 429 and 404 BTC each were activated after 10.9 years, while another "dormant address containing 13 BTC worth $1,256,544 has just been activated after 11.0 years." The BTC stash was worth $5,850 in 2013.

Bitcoin gained 37.42% in November, according to TradingView statistics, making it the strongest month since February, when it climbed 45% following the launch of spot Bitcoin ETFs.

At the time of writing, Bitcoin was slightly up 0.10% in the last 24 hours to $97,181, having reached an intraday high of $97,229. On Nov. 29, Bitcoin reached highs of $98,750 before cooling and resorting to a narrow range.

Source: Investing.com