BTC and ETH Whales, Sleeping for 12 Years, Awaken! Will they sell?

Another ancient Bitcoin (BTC) wallet has come back to life after 12 years of sleep. Also, an Ethereum ICO participant with $4.42 million in assets woke up after 8 years. Now the question in mind: Will the sale take place?

Ancient Bitcoin (BTC) whale woke up from 12 years of sleep!

Whale Alert has discovered that another long-dormant crypto wallet has been reactivated. This was an old Ethereum wallet earlier today. A previously transferred Bitcoin address has now become active again while Satoshi Nakamoto is still active in the crypto industry.

Today, 1,000 Bitcoins worth $27,456,958 were moved to an address that has been dormant for 12 years. 2011 has been twelve years since Satoshi Nakamoto gave his work to the first Bitcoin community, including Gavin Wood, Hal Finney, and others.

It was recently discovered that the Bitcoin whitepaper is included in the iOS code for Macs. As you follow on Kriptokoin.com, this gave rise to many rumors that Satoshi Nakamoto could be Apple’s technology pioneer and co-founder Steve Jobs. Popular cryptocurrency YouTuber Lark Davis stated that Jobs passed away in 2011 and Nakamoto disappeared in late 2010. However, many have suggested as part of this theory that Apple’s other co-founder, Steve Wozniak, might be the real Satoshi.

Other whales are also on the move

Many old crypto addresses holding Bitcoin and Ethereum have been resurrected. And these addresses started to transfer their money. The two Bitcoin wallets came back to life last week after sleeping for 10.3 and 9.3 years respectively. It carried 1,128 and 6,078 Bitcoins each.

Several Ethereum whales that have been dormant since the ETH ICO in 2014 have resumed trading. Even though one of them moved one ETH, there are still 2,365 ETHs worth $4,377,447 in the wallet. Many Twitter users are making jokes about obsolete crypto wallets in the comments to these posts. He also speculates that their holders were probably able to find their keys soon.

BTC 4-hour chart / Source: TradingView

Most of the old whales who reactivate their wallets seem to be selling their cryptocurrencies. However, Bitcoin, which peaked at $69,000 in November 2021, is currently trading at $27,415. In other words, it is changing hands 60% below its previous high. So right now doesn’t seem like the best time to count. At the same time, Ethereum reached its ATH with $ 4,891. Currently, it is trading below $2,000, down 62.21% from its previous high.

Ethereum ICO participant wakes up after 8 years

A wallet that participated in Ethereum’s initial coin offering (ICO) in 2016 and has been dormant ever since has finally woken up after seven years and seven months. According to the post by on-chain analytics firm Lookonchain, the address transferred 1 ETH to a new address today. Thus, the whale performed its first operation. The crypto community speculates that this is a test run. However, the ICO wallet has not made any further transactions since then.

During the ICO, the wallet received 2,365 ETH worth approximately $733.51. At this time, the token sale price was $0.311. However, the assets are worth roughly $4.36 million at the current market price of ETH. Hence, it indicates a return on investment of around 600,000%. The ICO participant entered the list of previously inactive addresses, which suddenly came to life and began to transfer their assets. In December, two Ethereum addresses that had been dormant since October 2018 made significant transfers of 22,982 ETH for the first time.

Besides Ethereum, there have been reports of dormant Bitcoin (BTC) addresses being reactivated. A striking example is a wallet that received 6,071 BTC in 2013 and recently sent 2,071 BTC to a new address. At the time of the first transaction, one BTC was worth $663 and the total value of the wallet was over $4 million.

However, by April 2023, when it was reactivated, the value of the stash had skyrocketed to $176 million. He also transferred assets worth $60 million. In March 2022, another Bitcoin address became active for the first time in 11 years. There were 489 BTC at this address in 2010, worth only $50. As of the activation date, the assets were valued at over $20 million.