A long-dormant crypto whale has woken up after years of slumber to move millions of dollars worth of Bitcoin (BTC) to Binance, the largest crypto exchange platform in the world by volume.
New data from market intelligence firm Lookonchain shows that a crypto mining wallet that has been dormant for fourteen years has suddenly woken up and deposited 50 BTC, worth approximately $3.05 million at the time of writing, to Binance on June 26.
According to the crypto analytics platform, the miner earned the tokens in July 2010, when the crypto king was trading for less than $1.
“A miner wallet woke up after fourteen years of inactivity and deposited 50 BTC ($3.05 million) into Binance seven hours ago. The miner earned 50 BTC from mining on July 14, 2010.
Address: 1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm”
Earlier this year in May, Lookonchain also discovered that two wallets that had not seen activity since 2013 suddenly moved around millions of dollars worth of BTC as well.
At the time, Lookonchain found that the deep-pocketed investors collectively moved $61 million worth of Bitcoin, 11 years after purchasing 500 tokens for just $124 each. According to the on-chain data, the wallets made a staggering gain of almost 50,000%.
The top crypto asset by market cap is trading at $61,630 at the time of writing, up marginally over the past 24 hours.
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Featured image: Shutterstock/Tithi Luadthong