A long-dormant crypto whale has woken up after years of slumber to move millions of dollars worth of Bitcoin (BTC), according to on-chain data.
New data from market intelligence firm Whale Alert reveals a wallet that has been asleep for more than 12 years has abruptly woken up and sent 159 BTC worth about $11.75 million.
The wallet first received 759 Bitcoin in September 2012 for a total cost of $7,974, suggesting an average price of $10.50 for the BTC stack. The numbers indicate that the whale relocated the 159 BTC trove after printing gains of more than 700,000%.
The wallet currently holds 590 BTC worth about $40.9 million at time of writing.
Whale Alert also spotted other long-dormant whales waking up this week.
One whale woke up after more than 13 years and sent to another wallet all of their 20 Bitcoin.
“A dormant address containing 20 BTC ($1,460,630) has just been activated after 13.3 years!”
Another whale woke up after more than 11 years to move 14 Bitcoin at a profit of more than 157,343%.
“A dormant address containing 14 BTC ($1,054,874) has just been activated after 11.6 years (worth $670 in 2013)!”
Whale Alert also spotted one whale waking up after 13 years to send 1.5 BTC to the crypto exchange Kraken.
“A dormant address containing 28 BTC ($1,995,139) has just been activated after 13.6 years!”
Lastly, Whale Alert says a wallet sleeping for more than 11 years suddenly woke up to send about 5 BTC to crypto exchange Coinbase.
“A dormant address containing 16 BTC ($1,166,157) has just been activated after 11.4 years!”
Bitcoin is trading for $69,456 at time of writing, down 1.3% in the last 24 hours.
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Generated Image: Midjourney