Ballena transfers 50 bitcoins to Binance after 14 years of inactivity – DiarioBitcoin
By Hannah Perez
A former Bitcoin miner who was active in 2010 moved his coins for the first time in 14 years. He moved them to Binance possibly with the intention of selling.
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- Veteran Bitcoin Miner Moved His 2010 Bounty to Binance After 14 Years
- Not the only whale movement: US and German governments move large sums of BTC
- Bitcoin is around USD $61,000 in a modest recovery after having fallen to USD $60,000
An ancient whale Bitcoin woke up after years of dormancy to possibly sell coins amid a bearish correction in the digital asset market.
A wallet address that apparently belongs to a miner Bitcoin veteran operating in 2010, has just transferred 50 bitcoins (BTC) towards cryptocurrency exchange BinanceAs noted by the network analyst, Lookonchain.
A miner wallet woke up after being dormant for 14 years and deposited 50 $BTC($3.05M) to #Binance 7 hours ago
The miner earned 50 $BTC from mining on July 14, 2010.
Address:
1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm pic.twitter.com/toKmBfbUne— Lookonchain (@lookonchain) June 27, 2024
The bitcoins would have been mined around July 2010, when the mining bounty of Bitcoin It was 50 BTC per block. That subsidy has since been reduced as part of the scheduled halvings, and is currently just 3,125 BTC per block.
The wallet is possibly linked to one of the network’s first miners, which classifies it as part of the so-called “Satoshi era,” a period between 2009 and 2011 during which the pseudonymous creator of BitcoinSatoshi Nakamoto, was still active in online forums.
The miner of Bitcoin would have obtained the block reward when the price of Bitcoin It was less than a dollar and the technology was barely a year old. At the time, the value of BTC holdings was close to $25. Today, the same amount is valued at about USD $3 million, according to prices at the time of publication.
The move comes at a bearish time for the cryptocurrency market and amid activity from other whales. Bitcoin. Yesterday, the governments of the United States and Germany also moved large quantities of bitcoinscoming from criminal seizures, towards centralized exchanges.
German authorities have been sending bitcoins towards exchange platforms in recent weeks as the price of Bitcoin It reached more than one-month lows around the USD $60,000 area. In total, the German government had moved more than 2,000 BTC worth approximately $131 million as of Wednesday.
The movements of Bitcoin towards the exchanges They are often interpreted as signals of selling interest that, when they come from large investors, usually exert downward pressure on the market, causing prices to fall.
Previous reports had suggested that sales from whales and long-term holders of Bitcoin were largely responsible for the price correction recently seen in the market.
At the time of writing, BTC is changing hands around the $61,200 mark with a modest 0.33% drop over the past 24 hours, according to data from CoinMarketCap. The main cryptocurrency fell to USD $60,000 on Wednesday, hitting its lowest point since early May.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
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