Dormant Bitcoin Whale Moves 2,931 BTC
A long inactive Bitcoin whale has transferred approximately 2,931 BTC, worth nearly $188 million, to a new wallet after remaining inactive for almost seven years and nine months. According to onchain data, the transaction took place on Sunday, drawing attention from crypto investors and blockchain analysts.
Wallet Shows Massive Growth in Value
Blockchain tracking platform Onchain Lens, citing data from Arkham, reported that the funds were moved from wallet 356my…BAsmK to a previously unmarked address bc1qn…8gp25. The receiving wallet has not made any further transactions since receiving the bitcoin. The whale last moved these holdings on October 23, 2018, when Bitcoin was trading at around $6,475. Since then, the value of the holdings has increased by nearly ten times.
Market Watches for Possible Selling Activity
The reason behind the transfer has not been confirmed. However, large movements from dormant wallets often raise speculation about potential profit taking or asset reorganization. Such transfers are closely monitored because they can sometimes occur before large bitcoin sales, although they do not always indicate an immediate selloff.
Large Dormant Wallets Continue to Reawaken
The latest transaction follows a growing trend of long dormant Bitcoin wallets becoming active again. During Bitcoin’s record price rally last year, several early investors transferred billions of dollars worth of BTC after remaining inactive for more than a decade. One of the largest examples occurred in July 2025, when more than $8.7 billion worth of Bitcoin was moved after 14 years of inactivity.
Bitcoin Price Remains Under Pressure
Despite the high profile whale transaction, Bitcoin was trading at approximately $63,376, down about 1 percent over the previous 24 hours at the time of reporting. Market participants continue to monitor whale activity closely, as large transfers can influence investor sentiment and short term market expectations.
