Recently, multiple addresses holding over $20 million worth of cryptocurrencies were activated after years of dormancy.

Odaily reports that Bit fell below $96,000 today, down about 11% since breaking through $108,000 on December 17, 2024. Meanwhile, at Bit network block height 875,560, a wallet that has been dormant since July 25, 2015 was activated and transferred 44.99 BTC, its first activity since creation. The same user actually transferred a total of 59.99 BTC, moving funds from three old (P2PKH) addresses to two pay-to-witness public key hash (P2WPKH) wallets. Of this, 44.99 BTC came from 2015, when Bit was trading at $290. Then, 43 blocks later, several wallets left over from 2017 became active, transferring a small amount of Bit (0.00000547 BTC) at block 875,603. This pattern of sending Bit fragments cleverly obscures a larger-scale transfer. Once the satoshis are settled, a newly minted P2WPKH wallet will receive 99.999 BTC, worth $9.7 million at current prices. On Saturday, a wallet was activated after 12 years of dormancy, transferring 104.99 Bit, which were worth only $11 at the time, for a total value of $1,200. Today, these Bit are worth over $10 million. This transfer also migrated from old P2PKH addresses to new P2WPKH addresses. (Bitcoin.com)