A previously inactive crypto wallet has sparked attention in the blockchain community after executing a large transaction following two months of dormancy. According to BlockBeats On-chain Detection, the wallet reactivated and swapped 5.18 million USDC (USD Coin) for 53.87 WBTC (Wrapped Bitcoin) at an average price of $96,160 per WBTC.
The transaction has raised eyebrows as large, sudden moves from dormant wallets often precede significant market developments or signal shifts in investment strategies. WBTC, an ERC-20 token backed 1:1 by Bitcoin, is commonly used on Ethereum-based decentralized finance (DeFi) platforms for trading, lending, and yield farming. The wallet’s move suggests renewed interest in DeFi or potential speculation on Bitcoin’s future price trajectory.
This activity also comes at a time when institutional and whale-level participation is increasingly influencing crypto markets. Observers are closely watching to see whether this transaction marks the beginning of a broader trend among long-dormant holders re-entering the market. The timing and size of the trade could indicate confidence in Bitcoin’s upward momentum or an effort to diversify holdings using DeFi protocols.
As blockchain analytics continue to shed light on wallet behavior, movements like these serve as key indicators for crypto market watchers.