With the market for Bitcoin (BTC) and other cryptocurrencies in turmoil, some big investors are waking up and trying to move their bitcoin holdings that have been untouched for almost a decade.
Seven dormant Bitcoin wallets were awakened on November 11, moving a total of 3,500 BTC ($60.6 million) to new addresses, according to on-chain data. His 1 transaction fee of these 500 BTC transactions ($8.7 million) Amount of money Only 0.00011383 BTC, or $2.00.
Blockchain Researcher and Developer Kirill Kretov with flag A LinkedIn post points out that the new address has not yet been “consolidated.”
Each of the above 7 addresses has held 500 BTC for about 11 years and all 7 received their stash on 10th July 2011.all wallets received At exactly the same time, 12:22 PM (UTC), it was the very first trade for each.
Kretov pointed out that the new wallet address format has changed from pay-to-public-key-hash (P2PKH) to pay-to-script-hash (P2SH). P2PKH is the most common script type of Bitcoin transaction, where transactions are resolved by sending a public key and a digital signature created by the corresponding private key.
Unlike P2PKH, the P2SH format allows transactions to be sent in script hashes instead of public key hashes, requiring the recipient to provide the script hashes and additional data.According to online sources, recipients are requirement Using Bitcoin for P2SH formatted addresses may require signatures from multiple people or may require a password.
Related: How to Send $1 Billion for Basically Free: Bitcoin Whale Watching
The awakening of dormant BTC addresses is nothing new to the Bitcoin community. In mid-October, the Bitcoin whale moved his 32,000 BTC for the first time since 2018.
Another large BTC investor previously moved 48,000 bitcoins from Coinbase Pro, CryptoQuant CEO Ki Young Ju reported. Most of the bitcoins that were moved have reportedly been dormant since 2011. Last year, Cointelegraph reported on a dormant Bitcoin wallet that moved his 321 BTC for the first time since 2013.
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