Recently, the entire cryptocurrency market has been in a slump. Some assets have been struggling to achieve significant gains. The world’s largest cryptocurrency, Bitcoin, has also been pushed down by bears. In this downward trend, some whales have been buying the dip, while others are remaining cautious. A dormant Bitcoin miner wallet reappeared after 14 years and made headlines by deciding to transfer 50 Bitcoins worth over $3 million to Binance, re-entering the market.
Lookonchain revealed this development, stating that $3.05 million worth of Bitcoins were transferred. It is said that these Bitcoins were mined on July 14, 2010. Block 67254 was used to earn all 50 BTC. The block reward for mining was $3.05 million worth of Bitcoins. The block data further shows a total of four transactions of 1085.85 BTC, with a difficulty of 45.38682234.
Early mined Bitcoins are also very significant. These coins are among the most sought-after in the market. The sudden movement of these assets may signal a few things. Some may enter the market with a newfound interest in the king coin, while others may be concerned about their old private keys.
However, this is not the first case of a miner transferring hidden treasures. Back in March, another Bitcoin miner wallet transferred around 2000 Bitcoins after being dormant for 14 years.
Bitcoin’s performance today?
As of the time of writing, the trading price of BTC is $60,940.29. The asset dropped from a high of $61,500 to a low of $60,619. The king coin has further dropped by 7.18% in the past seven days. The recent drop in Bitcoin occurred after the US government transferred 3940 Bitcoins to Coinbase Prime. Earlier this week, there were reports of the German government also moving cryptocurrencies.
Source: CoinDesk