Whale Alert, a well-known cryptocurrency tracking service, has discovered that another crypto wallet that had lain inactive for a long time has reactivated. It was an old Ethereum wallet earlier today.
A Bitcoin address that was previously transferred when Satoshi Nakamoto was still active in the cryptocurrency industry has now been revived.
Ancient whale moved $27.4 million into Bitcoin
A inactive address that had been asleep for 12 years, according to Whale Alert, awoke less than an hour ago and sent 1,000 Bitcoins worth $27,456,958 USD at the current BTC/USD conversion rate.
The year 2011 marked twelve years since Satoshi Nakamoto, the enigmatic person who invented Bitcoin, gave his creation to the early Bitcoin community, including Gavin Wood, Hal Finney, and others.
It was recently discovered that the Bitcoin whitepaper is included in the iOS code for Macs. This spawned a tonne of rumours that Satoshi Nakamoto may be Steve Jobs, the tech pioneer and co-founder of Apple. Popular cryptocurrency YouTuber Lark Davis noted that Jobs passed away in 2011 and Nakamoto vanished in late 2010.
However, many have proposed as part of this idea that Steve Wozniak, the other Apple co-founder, may have actually been the real Satoshi.
Dormant BTC and ETH wallets awakening one after another
As recently revealed by U.Today, several old cryptocurrency addresses containing Bitcoin and Ethereum have been revived and have begun to transfer their cryptocurrency. Two Bitcoin wallets awoke this week after sleeping for 10.3 and 9.3 years, respectively. They each moved 1,128 and 6,078 bitcoins.
Recently, a number of Ethereum whales that have lain dormant since the ETH ICO in 2014 have resumed trading. Despite the fact that one of them moved one ETH, the wallet still has 2,365 ETH valued at $4,377,447 USD.
Many Twitter users have been making jokes in the comments to these posts about antiquated crypto wallets, speculating that their owners have probably just recently been able to find their keys.
The vast majority of these elderly whales who have been reactivating their wallets appear to be selling their cryptocurrency. However, right now does not seem to be the greatest moment for that as Bitcoin, which peaked in November 2021 at $69,000, is presently trading at $27,444, or 60.09% below its all-time high. Around the same moment, Ethereum achieved its ATH of $4,891. It is currently trading around $2,000, down 62.21% from that previous high.
