This time, on-chain data shows a dormant Bitcoin wallet that transferred over $6.8 million in Bitcoin, suggesting that this whale may also be looking to sell their tokens. Dormant Bitcoin Wallet Transfers Funds For First Time In 12 Years On-chain data shows that a Bitcoin wallet (1Nxxi) that had been dormant for 12 years transferred funds for the first time on July 4.The wallet contained $6.8 million worth of Bitcoin, with all these funds moved in two separate transactions.76 BTC ($4.46 million) was initially sent from the wallet to an unknown address (3Ctd5), and 43 BTC ($2.46 million) was sent in the second transaction to the same unknown address. Related Reading: XRP Stars Align: Indicators Point To Possible 7,500% Rally To $35 The last outflow from this address came in 2012 when 2.98 BTC was sent to an unknown address.
This is undoubtedly a relief for the crypto community since these tokens would have long been sent to an exchange if this whale was looking to offload their holdings. In the meantime, Bitcoin is still facing intense selling pressure from other entities, including the German government.
Gox is expected to pay its creditors up to $9 billion worth of crypto, with Bitcoin accounting for most of these tokens. Related Reading: XRP Price Attempts Bullish Decoupling Amid Major Developments At the time of writing, Bitcoin is trading at around $54,300, down over 7% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.
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