The network noticed the activity of the wallet with 500 bitcoins, which was created in the late 2010s. This period is also called the “Satoshi era”, in honor of the anonymous creator of bitcoin Satoshi Nakamoto.
Since it was last used sometime in 2010, the cache has risen sharply in value from $8,400 to more than $23.67 million, thanks to the soaring price of bitcoin.
Crypto-tracking service Whale Alert reported that transactions of only 165.33 BTC, or $7.78 million, was made from the wallet to an unknown address.
While this wallet action might be considered lightweight in whale terms, similar transactions have raised fears of a price dump in the past. However, waking up inactive wallets does not necessarily mean selling coins. Some owners simply move their digital assets to other addresses during periods of peak exchange rate fluctuations.
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