More than 3,000 transactions totaling at least $100,000 were recorded on the Bitcoin network yesterday.
After more than 7 years, a dormant BTC account was just reactivated.
Large Bitcoin transactions have started to take up in the last 48 hours, despite rising prices. A Bitcoin transfer worth approximately $190 million was recently identified by Whale Alert, a well-known blockchain tracking and analytics firm.
How much have volumes increased or decreased in Q4 2021?
A crypto address shifted 4,000 Bitcoin from digital exchange Gemini to Coinbase on March 29 at roughly 17:09 UTC, according to Whale Alert. One of the largest BTC whale movements in the last 48 hours occurred recently.
In the last several days, BTC transactions worth at least $100,000 have increased dramatically. Over 3,000 such transactions were completed in less than four hours yesterday.
“Bitcoin whales have recently been active. Between 2 and 6 p.m. UTC, there were 3,266 $100k+ transactions, the largest in a 4-hour period since March 1st. Market prices reached just above $48.0k 8 hours ago, and they’ve already dropped to $47.3k,” Santiment observed in a recent update.
On Tuesday, Bitcoin broke through the $48,000 price barrier for the first time since January 1, 2022. Liquidations in the crypto market have escalated as its price has risen.
Bitcoin Wallet That Has Been Ignored
Whale Alert reported yesterday on the reactivation of a dormant Bitcoin account after more than seven years. “After 7.7 years, a dormant BTC address containing 1,000 coins (47,546,005 USD) was just activated (worth 583,859 USD in 2014),” the business claimed.
Finance Magnates recently reported on a dramatic growth in old BTC supply, with the ratio reaching 63 percent, up more than 9% in the last eight months. In the previous 12 months, long-term BTC holders have stopped selling their digital assets. “As coins accumulated in Q1 of the 2021 bull market stay unspent in investor wallets, the proportion of coin supply aged 1yr+ is rapidly reaching all-time highs,” Glassnode noted in its research.