A crypto investor who had been inactive for a long time has recently stirred from a lengthy slumber and decided to transfer a substantial amount of Bitcoin (BTC) to Binance, one of the world’s largest cryptocurrency exchange platforms in terms of trading volume.
Fresh data provided by the market intelligence company Lookonchain has disclosed that a cryptocurrency mining wallet that had been dormant for 14 years suddenly became active and deposited 50 BTC, equivalent to approximately $3.05 million as of the current time, into Binance on June 26th.
As per the insights from the crypto analytics platform, this miner acquired the tokens in July 2010 when the value of Bitcoin was less than $1.
“An inactive mining wallet has come alive after a 14-year hiatus and shifted 50 BTC ($3.05 million) to Binance seven hours ago. This miner originally earned 50 BTC from mining activities on July 14, 2010.
Wallet Address: 1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm”
Source: Lookonchain/X
Earlier this year, in May, Lookonchain also discovered that two wallets that had remained dormant since 2013 suddenly moved substantial amounts of BTC.
At that time, it was found that affluent investors transferred a total of $61 million worth of Bitcoin, 11 years after acquiring 500 tokens for a mere $124 each. Based on the on-chain data, these wallets realized impressive gains of nearly 50,000%.
As of the present moment, the leading cryptocurrency by market capitalization is valued at $61,630, showing a slight increment in the last 24 hours.
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Featured Image: Shutterstock/Tithi Luadthong
