Mathisen Marketing

Your Marketing Blog

Speculation about the market as 10,000 BTC depart the wallet after nine years

Speculation about the market as 10,000 BTC depart the wallet after nine years

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

In just two days, the price of bitcoin fell to new August lows, dropping below the $20,000 unit zone for the first time since mid-July. After nearly nine years of inactivity, two addresses created on December 19, 2013 delivered 10,000 bitcoins worth $203 million to unknown wallets during that time. According to Onchain statistics, the 10,000 coins transferred this week were originally related to the June 19, 2011 Mt. Gox breach.

Last weekend, when 5,000 BTC were included in the block, analysts initially noticed strangely high transaction volumes. The asset, whose owner is still unknown, has been held in the same wallet since 2013. A day later, an almost identical 5,000 BTC was added.

For the first time since 2013, a total of 10,000 BTC was in circulation, and cryptographers on the chain are interested in the motivation of the guiding whale.

According to the analysis of the target wallets, the money was not transferred to the stock exchange for trading. Instead, they were split between many new wallets. Maartunn, contributor to CryptoQuant, an analytics tool operating on the chain, assumed that privacy might have been a factor influencing the choice.

Blockchain parser btcparser.com, a tool that often finds so-called “sleeping bitcoins” that move after sitting dormant in addresses for years, detected a transaction of 10,001 bitcoins. Blockchain parsers have found several dormant bitcoins that were mined in 2011, 2010 and 2009.

Whale Consumes 10,000 BTC Worth $203 Million, Bitcoins From Infamous 2011 Mt Gox Hack

Transfers from June 2011 to the present show no sign of change, and the whale’s massive 134,000 BTC reserve steadily dwindled over the past 11 years in fractions. The treasure from the original 1McUC address seems to be exhausted, with the 10,001 BTC spent this week being the last.

The history of Bitcoin contains only six such events.

The events were also spotted by Philip Swift, inventor of the on-chain analytics tool LookIntoBitcoin, using the Whale Shadows token.

The statistics sparked debate about their implications for BTC price movements, as they clearly showed two spikes in older currencies.

Swift and CryptoQuant showed that such earlier increases marked regional highs for BTC/USD during Bitcoin’s existence.

Other social media critics even claimed that the money was connected to Mt. Gox’s rehabilitation program.

Disclaimer: Blockmanity is a news portal that does not provide financial advice. Blockmanity’s mission is to inform the cryptocurrency and blockchain community about what’s happening in this space. Please do your own due diligence before making any investment. Blockmanity is not responsible for any loss of funds.

Get the latest news only on Blockchain Blockmanity.com. Order from us Google News and follow us on Twitter @Blockmanity

Did you like the news you just read? Please provide feedback so we can serve you better




Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published.

Latest Posts

  • CEO of Struggling Crypto Lender Celsius Tenders Resignation Letter

    CEO of Struggling Crypto Lender Celsius Tenders Resignation Letter

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Alex Mashinsky, CEO of the closed cryptocurrency lending platform Celsius, is stepping down from his management position. However, he states that he is ready to help the company in its restructuring process. In an announcement on Tuesday (September 27, 2022), […]

    Read More

  • LUNC/USD May Find Its New Support at the $0.00020516 Price Level

    LUNC/USD May Find Its New Support at the $0.00020516 Price Level

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Join us Telegram channel to keep up to date with the latest news With LUNC/USD prices, buyers are trying to save the market and as a result buying pressure is causing the market to consolidate. However, the buyers’ effort did […]

    Read More

  • MIOTA Targets $0.35 Resistance as Tamadoge Remains Bullish

    MIOTA Targets $0.35 Resistance as Tamadoge Remains Bullish

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Join us Telegram channel to keep up to date with the latest news The IOTA price forecast continues to recover above the 9-day and 21-day moving averages as the price remains in a short-term uptrend. IOTA prediction statistics data: IOTA […]

    Read More