- \n
- The stash was acquired in July 2021 when BTC was valued at just $7.57.<\/em><\/li>\n
- An analyst attributed such incidents to sell-side liquidity crisis.<\/i><\/li>\n<\/ul>\n
About 500 Bitcoins [BTC]<\/a>, inactive for nearly 12 years, were transferred to multiple new wallets recently, piquing the curiosity of the broader cryptocurrency market.<\/p>\n
According to Lookonchain<\/a>, the stash, worth $35 million at press time, was acquired in July 2021. At that time, BTC was valued at just $7.57.<\/p>\n
No conclusive information was available about the entity and nature of the transfer as of this writing.<\/p>\n
However, if one were to go by the populist belief that the wallet preparing for a sell-off, they would probably end up profiting by a whopping 9247x.<\/p>\n
A broader market trend?<\/h4>\n
AMBCrypto investigated further and noticed a broader trend of dormant coins becoming active lately.<\/p>\n
Santiment\u2019s Mean Coin Age indicator \u2014 which measures the average amount of days all BTC tokens stayed in their respective addresses \u2014 dropped steadily throughout March.<\/p>\n
![\"Bitcoin](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/bitcoin-mean-age.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
What could be the reasons?<\/h4>\n
There could be multiple factors behind really old Bitcoins moving on-chain suddenly.<\/p>\n
Firstly, it could be possible that wallet holder was locked out of their BTCs due to loss of private keys or the cold wallet. Once they retrieve the keys, they start moving Bitcoins.<\/p>\n
However, examples like these are few and far between.<\/p>\n
Secondly, a lot of long-term holders (LTH), who patiently waited for Bitcoin\u2019s price to soar exponentially, could finally decide to sell and lock in gains.<\/p>\n
- An analyst attributed such incidents to sell-side liquidity crisis.<\/i><\/li>\n<\/ul>\n