A long-dormant crypto whale has woken up after years of slumber to move millions of dollars worth of Bitcoin (BTC) to Binance, the world’s largest crypto exchange platform by volume.
New data from market intelligence firm Lookonchain reveals a crypto mining wallet that has been asleep for 14 years has abruptly woken up and deposited 50 BTC, worth about $3.05 million at time of writing, to Binance on June 26th.
According to the crypto analytics platform, the miner earned the tokens during July 2010 when the crypto king was trading for under $1.
“A miner wallet woke up after being dormant for 14 years and deposited 50 BTC ( $3.05 million) to Binance seven hours ago. The miner earned 50 BTC from mining on July 14, 2010.
Address: 1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm”
Earlier this year in May, Lookonchain also found that two wallets that had seen no activity since 2013 also suddenly shifted around millions of dollars worth of BTC.
At the time, Lookonchain found that the deep-pocketed investors moved a combined $61 million worth of Bitcoin 11 years after purchasing 500 tokens for just $124 each. According to the on-chain data, the wallets printed staggering gains of nearly 50,000%.
The top crypto asset by market cap is trading for $61,630 at time of writing, a marginal increase during the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Tithi Luadthong