The Russia-Ukraine conflict has caused crypto prices to fall and fueled increased concern about the future of the global economy. The bitcoin price fell to $38,300 two days ago and then rebounded to $42,592 per unit on Wednesday.
The bullish sentiment didn’t last long, and Bitcoin’s value returned to the $38K mark on Thursday. Although the market was volatile, an old-school whale transferred a large amount of bitcoins in 2010.
The transaction was initiated by the bitcoin address 17QBW and was approximately 489.091 BTC. The large transaction was captured by the Blockchain Parser . It was processed at block height 726.641 at 1:45 AM (UTC) March 10.
Original transaction that took place 11 years ago and was completed four months ago on October 28, 2010, produced the 429 BTC, which is worth $16.8million. The transaction was derived from a sender who held 1,000 bitcoins that were moved from one location to another on October 20, 2010.
The 1,000 BTC originally came from , which processed a number (5.111 bitcoins) of BTC during the period September 6, 2010 to July 12, 2011. The 429 BTC that was spent on March 10, 2022 was initially obtained at the time that the remaining 510.91 BTC were sent to the bitcoin address a href=”https://markets.bitcoin.com/crypto/BTC”>BTC between September 6, 2010 and July 12, 2011. The owner waited over a decade before transferring the 429 Bitcoin. However, the 510.91 BTC was spent two day later on Halloween (October 31, 2010).
In a while, there has not been a significant awakening of 2010 bitcoins such as the 429 Bitcoin transaction. Bitcoin.com News investigated a huge bitcoin whale that had spent tens or thousands of “sleeping Bitcoins” and the last time the mega whale was November 10, 2021. BTC hit a record price of $69K per unit that day. That mega whale also moved 1,000 years-old bitcoins.
Although the 429 transfer is smaller than the mega whale transfer, it is still much larger than traditional block subsidy transfers which are only one or two blocks in size. An illustration of the outbound transactions originating from the ’17QBW” address suggests that some coins may have been sent by the trading platform Coinbase.
A few other transactions also show that fractions of the coins were transferred to unknown addresses. None of these addresses were Segwit-based (Bech32), as the two largest outputs were sent legacy addresses.