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This Sunday, two whales got active after more than a decade of inactivity sending waves to the crypto market.
According to latest findings by Lookonchain, these wallets which were inactive for precisely 10.7 years, have transferred their holdings of 1000 Bitcoin swiftly which values currently at a substantial amount of $60.9 million.
The aforementioned wallets, denoted as "16vRqA" and "1DUJuH," were first deposited with 500 BTC each back in September 2013, during a period when the value of one Bitcoin was $124.
The wallets have gained an extraordinary surge in value, fast forward today. It has a profit margin of 49,274.2%. In terms of money, this amounts to an incredible $60.8 million windfall, or $5.7 million in profit per year for the previous 11 years.
Within the crypto community, the sudden reactivation of these Bitcoin whales has ignited an intense speculation. Many analysts posit that such a move could signify a vital shift in market sentiment.
Whats more interesting that these whales haven't chosen to cash out through exchanges despite the significant gains but rather chosed to move their Bitcoin to undisclosed wallets.
In the past, the appearance of long-dormant Bitcoin holders has frequently been seen as a bearish indication, pointing to a possible sell-off to protect profits. But because of the unusual circumstances surrounding these antiquated wallets, the market is anxious to see what they will do next.