A small number of Bitcoin mining addresses that have been inactive for over a decade suddenly moved over $7 million worth of BTC, as per on-chain data.
According to the crypto tracker Lookonchain, four mining addresses each received 25 BTC from mining activities back in 2013. After lying dormant for 11 years, the miners transferred a total of 100 BTC this week as the leading cryptocurrency surpassed $70,000 in value.
As of now, BTC is trading at $71,079, showing a gain of over 2% in the last 24 hours.
Lookonchain also highlighted a new wallet funded by Coinbase that acquired a significant amount of the memecoin inspired by Gamestop stock, GME.
“An individual created a new wallet and spent $2 million to purchase 135 million GME at $0.0148 in a single trade, becoming the 4th largest holder of GME. What an astonishing purchase!”
The memecoin based on Solana (SOL) is currently trading at $0.00933, down over 35% in the last 24 hours but up almost 130% in the past week.
The original GME stock on the New York Stock Exchange, known for its explosive growth in 2021 that led to significant losses for hedge funds, surged nearly 50% on Monday, rising from $22.91 to $40.08. However, it has since retraced and closed at $26.50 by the end of Tuesday’s trading day.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors are urged to conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. All transfers and trades are done at the individual’s own risk, and any resulting losses are the sole responsibility of the investor. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and is not a financial advisor. Please be aware that The Daily Hodl may engage in affiliate marketing activities.
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