Based on the latest metrics, July has proven to be a significant month for dormant bitcoin activity, with a staggering $9.69 billion worth of coins that had been inactive for years suddenly coming to life. Entering August with more activity, an address that had not been touched for over 12 years was abruptly activated—moving bitcoin worth $35.36 million for the first time.
The resurgence of dormant Bitcoin
July has become an exciting chapter for dormant bitcoin moves—especially on July 4th, when an entity moved over 80,000 BTC into 10,000-coin blocks, ultimately transferring this large amount to Galaxy for liquidation.
showing that bitcoin that had been dormant since 2011 took the spotlight in July, leading the wave of classic resurgence of the month with 80,056.20 BTC being moved through 13 separate transactions.
Adding to this resurgence, five classic wallets from 2010 were activated, spending 250 BTC—all in line with the coinbase rewards accumulated shortly after Satoshi Nakamoto left. Activity from wallets from 2012 was quite modest, with six transactions totaling 110.00 BTC. Meanwhile, wallets from 2013 accelerated—35 addresses from that year released 1,642.80 BTC.
Wallets created in 2014 were virtually inactive, spending only a total of 42.21 BTC. Similarly, 2015 saw very little activity, with only two addresses spending about 132.11 BTC throughout the month. In contrast, wallets from 2016 saw more movement, transferring 676.62 BTC across 13 different sends.
The most active 'young ancient' group consists of wallets from 2017—64 of which transferred a total of 955.79 BTC. In total, 83,865.75 BTC, worth approximately $9.69 billion, was transferred in July through 142 on-chain transactions permanently etched into the blockchain.
Then came August 1st, starting with a spectacle. Today, an address created on March 25, 2013, abruptly came to life, transferring 306 BTC. When it was mined, bitcoin was trading at $70.71, making this amount worth $21,637.26. Jumping 12 years, that same pile is now valued at $35.36 million—a staggering increase of 163,285.54%.
