- Dormant Bitcoin wallets from the Satoshi era have become active, with significant amounts being moved.
- A whale investor profited over $175 million after activating a static address containing 6,071 BTC.
- The current Net Unrealized Profit/Loss value for the crypto market indicates a state of neutrality.
Whale Alert, an AI-powered platform monitoring significant coin transfers across blockchains, has detected an exciting occurrence. Last Saturday, the service reported that a Bitcoin wallet from the Satoshi era had unexpectedly become operational.
Bitcoin whale stirs after decade hiatus
The crypto whale, which had been dormant for the last ten years, just awoke with a significant transaction. The whale, which has a vast 1,128 Bitcoins worth $31.6 million, has only moved 279 Bitcoins worth $7.8 million to three locations.
— Lookonchain (@lookonchain) April 21, 2023
This unforeseen occurrence took aback the crypto community, as the whale had been dormant since October 2012 and May 2013, during which Bitcoin was priced at only $12 and $195, correspondingly.
Whale Alert recorded the transfer of an enormous crypto whale on Wednesday, which had reactivated a dormant address holding 6,071 BTC, equivalent to over $178 million today, after 9.3 years. Notably, the investor purchased the Bitcoins for $3.3 million in 2013, realizing a profit of more than $175 million in a decade.
— Whale Alert (@whale_alert) April 19, 2023
Bitcoin’s value plummets, NUPL unchanged
Currently, Bitcoin is trading at $27,246.04, experiencing a 10% decline from the previous week. According to Glassnode, a well-known crypto analytics platform, the Net Unrealized Profit/Loss (NUPL) value for the cryptocurrency market is 0.36, suggesting a neutral outlook.
The current market is not showing bullish or bearish signals but is in a period of transition. According to Glassnode, 55.8% of days had NUPL values more significant than the current level, while 44.2% had lower values.
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