According to blockchain analysis platform Lookonchain, a mining wallet woke up on Thursday after being inactive for 14 years.
According to blockchain analytics platform Lookonchain, a mining wallet woke up Thursday after having been inactive for no less than 14 years.
The address deposited 50 BTC (approximately $3.05 million) on the Binance exchange.
These coins were a mining reward received on July 14, 2010.
Transfers from wallets dating back to 2010 are quite rare. In April, 50 BTC that was mined on April 23, 2010 was also transferred for the first time in 14 years. A similar transaction also took place in March, according to look chain.
Alex DovbnyaIt should be noted that the largest cryptocurrency was trading below the $1 mark in 2010. Bitcoin only managed to surpass the mentioned level in February. In June 2011, its price reached a high of $30. At the time of writing, the cryptocurrency is trading at $61,040.
Some social media commentators have already suggested that the recent transfer could be linked to Satoshi Nakamoto, the mysterious creator of the leading cryptocurrency. However, he was not the only whale mining cryptocurrencies back then. Even though the network was still in its early days, it had quite a few participants who collectively mined a whopping 3.39 million coins that year.
Alex DovbnyaIn 2010, there was no dedicated mining hardware, meaning that some geeks could mine the cryptocurrency with the help of regular computers. However, as more users began to join the network, the mining difficulty began to increase. On July 16, 2010, for example, the mining difficulty quadrupled after an article about the original cryptocurrency was published on Slashdot, a popular website for nerds.
Rare transfers from long-dormant wallets now remind the Bitcoin community of the era of CPU mining, which is long gone.
