A dormant crypto whale has recently emerged from hibernation to transfer millions of dollars worth of Bitcoin to Binance, the leading cryptocurrency exchange platform.
Recent data from Lookonchain, a market intelligence firm, has uncovered a crypto mining wallet that had been inactive for 14 years but suddenly deposited 50 BTC, valued at approximately $3.05 million, to Binance on June 26th.
The analytics platform revealed that these tokens were originally mined in July 2010 when Bitcoin was trading for less than $1.
“After 14 years of dormancy, a miner’s wallet has transferred 50 BTC ($3.05 million) to Binance. The mining activity dates back to July 14, 2010.”
Address: 1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm
Earlier this year, Lookonchain also reported on two wallets that had remained inactive since 2013 but suddenly moved millions of dollars worth of BTC.
These deep-pocketed investors had purchased 500 tokens for $124 each in 2013 and recently shifted a combined $61 million worth of Bitcoin, realizing gains of nearly 50,000%.
As of now, the top cryptocurrency is trading at $61,630, showing a slight increase in the last 24 hours.
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