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HomeNewsMay Outpaces April in Dormant Bitcoin Wallet Awakenings, Moving Over $216 Million...

May Outpaces April in Dormant Bitcoin Wallet Awakenings, Moving Over $216 Million in Two Weeks

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The past two weeks have seen a surge in dormant bitcoin wallet awakenings, with May surpassing April in terms of “sleeping bitcoin” activity. According to data from btcparser.com, which monitors 64,529 addresses from 2009 to 2017 that have remained idle since their creation, May has seen 32 transfers from vintage wallets, moving approximately 1,181 more bitcoin than during the whole month of April.

The most recent batch of dormant bitcoin wallet transactions from 2013 has pushed May ahead of April by about 1,181.32 BTC, valued at $74.46 million. This term refers to transactions involving bitcoins that have remained inactive or unmoved for a very long period, often exceeding a decade.

In March, a significant amount of BTC was moved, including thousands of coins from 2010, spent by the mysterious mega whale. April witnessed a single 2010 block reward spent when the address “15sxz” transferred 50 BTC from the wallet for the first time since April 22 of that year.

The data shows that 13 transfers from 2013 were observed, amounting to 612.08 BTC. Ten transactions from 2014 saw approximately 365.263 BTC moved. The year 2016 saw prominent activity with 23 transactions, totaling 785.88 BTC. One user transferred 110 BTC in back-to-back transactions of 10 BTC each.

In total, April saw 2,246.84 BTC worth $141.63 million at current exchange rates. So far, May has recorded 3,428.16 BTC worth $216 million. May also noted a single 2010 block reward spend, transferring 50 BTC from that year. Two transfers from 2011 spent 75 BTC, and three from 2012 spent 256.419 BTC.

The increase in dormant bitcoin activity highlights a notable shift in the behavior of long-term holders. As more vintage wallets come to life, the market could see further implications on bitcoin’s liquidity and valuation. This trend underscores the unpredictable nature of bitcoin transactions and the enduring impact of early adopters in the cryptocurrency landscape.

Source: Bitcoin.com

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