A “dormant” Bitcoin address containing 407 BTC has awakened after more than 8 years of inactivity. The holder reportedly held the equivalent of more than $355,000 at the time, which has now become more than $15 million. This was reported by the twitter account Whale Alert.
Whale Alert: holder moves 407 Bitcoin after 8 years of inactivity
A few hours ago, the Whale Alert Twitter account reported the transaction of 407 BTC from an address that had been holding them for more than 8 years.
— Whale Alert (@whale_alert) March 7, 2022
“A dormant address containing 407 #BTC (15,460,523 USD) has just been activated after 8.3 years (worth 355,254 USD in 2013)!”
Essentially, the Bitcoin holder would have waited more than 8 years to see his BTC yield a profit of more than $14.5 million.
The Whale Alert channel, an advanced tracker and blockchain analytics system that reports these large transactions, has a list of whale-like movements in the crypto market.
Whale Alert and its support for crypto exchanges
Whale Alert uses special APIs to track important crypto movements moved by both unknown wallets and known exchanges.
In 2019, Whale Alert provided support to find the 7,000 stolen BTC on Binance, worth around $40 million at the time, by creating a special tracker just for that occasion.
A move that was also appreciated by Binance CEO Changpeng Zhao or CZ, who reportedly donated 1,000 BTC to Whale Alert for their support of the cause.
Not only that, but Whale Alert’s API was also appreciated by Bitfinex, which two years ago announced that it would integrate it into Pulse, the social network dedicated to crypto-exchange traders.
As such, Whale Alert has established itself as a very useful source of information within the digital asset industry, able to monitor and analyze in real time millions of blockchain transactions every day. By doing so, Whale Alert is able to flag the most significant transactions made, such as the current one of the 470 BTC holder.
Bitcoin and the boom in mentions on Twitter and Google
According to other indicators, it seems that at the beginning of March 2022, the word Bitcoin got more than 611,000 mentions in 24 hours on Twitter and other peaks on Google.
The factors that should have generated these two substantial numbers were certainly the price fluctuations that had seen BTC fly above $40,000, but also the connection between Bitcoin and the Russians who, due to the collapse of the ruble, would have bought the crypto queen en masse.
But it doesn’t end there, a few days later even the city of Lugano increased mentions of Bitcoin, thanks to the so-called Plan B.
This is a memorandum of understanding with Tether Limited that, among other things, should make Bitcoin, Tether and LVGA (the local token) legal tender.