PANews, August 29: According to CoinDesk, Galaxy Research tracking data shows that six wallets last active between 2011 and 2014 transferred a total of 553.59 bitcoins between August 16 and August 26, valued at approximately $40 million. One of these wallets had not conducted any transaction for over 15 years. However, Alex Thorn, Research Director at Galaxy Digital, noted that the amount of dormant bitcoins transferred on-chain during the second quarter fell to the lowest level since the third quarter of 2022. Galaxy defines bitcoins that have not moved for at least one year as "dormant coins."
Six dormant wallets inactive for over 10 years move 553 BTC worth $40M
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Summary
The BTC price moved as six dormant wallets—last active between 2011 and 2014—transferred 553.59 BTC, valued at approximately $40 million, between August 16 and 26. One wallet had not conducted a transaction in over 15 years. Galaxy Digital’s Alex Thorn noted that Q2 saw the lowest BTC dominance in on-chain dormant transfers since Q3 2022. Dormant BTC is defined as inactive for at least one year.
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