Bitcoin addresses that have been dormant for a long time have recently become significantly active. According to Galaxy Research, multiple BTC received between 2011 and 2014 have been transferred successively, and some of these addresses have remained inactive for over 15 years.
Multiple old coins were transferred out successively.
On August 29th, an address holding 10 BTC transferred funds in block 964,539. This batch of bitcoins was first received on June 17, 2011, and remained inactive for about 15.2 years. Galaxy estimates that the value corresponding to this transfer is approximately $777,000.
On August 12th, another amount of 85 BTC was transferred for the first time since December 2012. Five days later, another 8.54 BTC was transferred out for the first time since June 13, 2011. On August 18th, Galaxy also recorded two transfers of older coins, amounting to 10.74 BTC and 212 BTC.
On-chain activity is heating up.
On August 22nd, 132.31 BTC and 150 BTC also transferred successively. By August 28th, there were over 2,504 BTC transactions on the chain, with most of these coins last being active three to five years ago.
A reminder regarding Galaxy: The transfer of dormant BTC does not necessarily mean it has been sold. The holder may simply have changed their address or transferred funds to a trading platform.
