On Nov. 11, amid the confusion concerning troubled crypto companies like FTX and Blockfi, 3,500 ‘sleeping bitcoins’ from a wallet created on Oct. 7, 2011, moved for the first time in over 11 years.
A large string of so-called ‘sleeping bitcoins’ moved on Friday morning (ET) after remaining idle for more than 11 years. The 3,500 BTC worth over $60 million stemmed from seven different BTC addresses created on Oct. 7, 2011. It is the first large string of decade-old sleeping bitcoins to wake up in months.
The 3,500 bitcoins from 2011 were caught by Btcparser.com, and the owner of the seven different addresses did not spend any of the corresponding bitcoin cash (BCH) or bitcoinsv (BSV) tokens associated with the bitcoins.
The first 500 bitcoins from the batch of 3,500 derived from the address “1roet,” and it was confirmed at block height 762,676. The BTC address “1ueNd” also saw a 500 BTC transfer that was confirmed at block height 762,676. 500 bitcoin from “14x5C” got confirmed at block height 762,679, as did “1Es8m,” “1Hfpr,” and “1JziG.”
Not too long after that, the owner moved another 500 bitcoin from “17gTy,” which was confirmed at block height 762,684. Every address from the 3,500 BTC stash was created 4,053 days ago on Oct. 7, 2011. BTC was trading for just over $4 per unit on that day and closed the month at $3.27 per unit on Oct. 31, 2011. When the addresses were first created, the stash of 3,500 BTC was only worth $14,000.
We have no idea why the owner of the 3,500 BTC spent the coins 11 years later at BTC’s lowest value in two years. However, just because the bitcoins were spent doesn’t mean the coins were sold. In fact, all the coins moved from pay-to-pubkey-hash (P2PKH) to pay-to-script-hash (P2SH) and the bitcoins remain in single addresses.
In addition to the 3,500 bitcoins moved on Nov. 11, approximately 50 BTC from a wallet created on May 21, 2010, was moved for the first time in well over a decade. It’s the first 2010 block subsidy spent since August 2022. The owner of the 50 BTC from 2010 also did not spend any of the corresponding BCH and BSV attached to the coins.
What do you think about the so-called ‘sleeping bitcoins’ from 2011 that woke up on Friday? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
On Nov. 11, amid the confusion concerning troubled crypto companies like FTX and Blockfi, 3,500 ‘sleeping bitcoins’ from a wallet created on Oct. 7, 2011, moved for the first time in over 11 years.
A large string of so-called ‘sleeping bitcoins’ moved on Friday morning (ET) after remaining idle for more than 11 years. The 3,500 BTC worth over $60 million stemmed from seven different BTC addresses created on Oct. 7, 2011. It is the first large string of decade-old sleeping bitcoins to wake up in months.
The 3,500 bitcoins from 2011 were caught by Btcparser.com, and the owner of the seven different addresses did not spend any of the corresponding bitcoin cash (BCH) or bitcoinsv (BSV) tokens associated with the bitcoins.
The first 500 bitcoins from the batch of 3,500 derived from the address “1roet,” and it was confirmed at block height 762,676. The BTC address “1ueNd” also saw a 500 BTC transfer that was confirmed at block height 762,676. 500 bitcoin from “14x5C” got confirmed at block height 762,679, as did “1Es8m,” “1Hfpr,” and “1JziG.”
Not too long after that, the owner moved another 500 bitcoin from “17gTy,” which was confirmed at block height 762,684. Every address from the 3,500 BTC stash was created 4,053 days ago on Oct. 7, 2011. BTC was trading for just over $4 per unit on that day and closed the month at $3.27 per unit on Oct. 31, 2011. When the addresses were first created, the stash of 3,500 BTC was only worth $14,000.
We have no idea why the owner of the 3,500 BTC spent the coins 11 years later at BTC’s lowest value in two years. However, just because the bitcoins were spent doesn’t mean the coins were sold. In fact, all the coins moved from pay-to-pubkey-hash (P2PKH) to pay-to-script-hash (P2SH) and the bitcoins remain in single addresses.
In addition to the 3,500 bitcoins moved on Nov. 11, approximately 50 BTC from a wallet created on May 21, 2010, was moved for the first time in well over a decade. It’s the first 2010 block subsidy spent since August 2022. The owner of the 50 BTC from 2010 also did not spend any of the corresponding BCH and BSV attached to the coins.
What do you think about the so-called ‘sleeping bitcoins’ from 2011 that woke up on Friday? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
Solana was up by as much as 20% on Friday, as the token rebounded following recent declines. The token which dropped by over 50% earlier in the week, surged today, as traders seemingly bought the dip earlier in the day. However, sentiment has since shifted following the news that FTX has declared bankruptcy. Polygon was a notable gainer, climbing by as much as 16% prior to the news.
Solana (SOL) was one of today’s notable gainers, as the token rebounded following recent losses.
After falling to a low of $15.06 on Thursday, SOL/USD surged to an intraday high of $18.68 earlier in the day.
SOL was one of the most impacted tokens following the recent collapse of FTX and Alameda, however traders seem to have found an opportunity to buy the dip. Still, Friday’s gains have largely been wiped out, as news of FTX declaring bankruptcy emerged.
Looking at the chart, earlier gains have somewhat eased, as the relative strength index (RSI) of 14 days neared a ceiling.
The index is currently tracking at 38.36, marginally below a key resistance level of 40.00.
In order for SOL to climb closer to $28.00, which seems to be the target of bulls, this RSI ceiling must be broken.
Polygon (MATIC) was also higher in today’s session, as the token edged closer to a key resistance of its own.
Following yesterday’s bottom of $0.9337, MATIC/USD raced to a peak of $1.15 earlier in the day.
The surge, which occurred earlier in today’s session, saw polygon near its long-term ceiling of $1.20.
However, as of writing, the token has moved lower and is currently tracking at $1.04, as sentiment has somewhat shifted.
This appears to be a result of the RSI holding firm, with recent momentum not enough to break a ceiling of 57.20.
The index is now at 53.10, and seems to be moving towards a floor of 51.60, which could lead to MATIC moving back below $1.00.
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What else is behind this afternoon’s change in market sentiment? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.
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