Archeology 2024 The top ten Bitcoin whales that "reappear in the world": the highest transfer exceeds 1,000 BTC, and the lowest cost is less than 1 US dollar

Source: Bitquery

Compiled by: Yuliya, PANews

In 2024, the Bitcoin blockchain once again brought unexpected surprises -multiple Bitcoin wallets that had been inactive for more than ten years suddenly restarted. These wallets, which had been dormant for years, suddenly transferred a large amount of Bitcoin, triggering widespread attention and discussion in the cryptocurrency field. There has been much speculation in the market as to why these wallets were reactivated, especially when large-value transactions were involved.

As we move into 2025, these reactivated wallets not only remind the market of Bitcoin’s long-term value, but also highlight the unpredictable dynamics that the Bitcoin network can still bring to the table years later. This article will focus on analyzing the top ten most influential Bitcoin whale wallet reactivation cases, delve into the multiple possible reasons behind these activities, and analyze how they potentially affect market sentiment, pricing, and the dynamic development of the entire crypto ecosystem. .

What is a dormant wallet?

Dormant wallets refer to Bitcoin addresses that have not undergone transactions or fund transfers for a long time, usually for many years or even ten years. These wallets remain static for long periods of time, neither accepting new funds nor transferring assets out.

When such wallets suddenly become active and move funds, the market generally takes a keen interest in the reason for the activation. This could be because the holder has recovered a lost private key, a change in ownership, or the holder has decided to capitalize on the accumulated Bitcoin wealth.

This situation often triggers market volatility and can affect the price of Bitcoin, while also triggering speculation about the identity of the wallet holder and the story behind it.

Analysis of Important Wallet Reactivations in 2024

In 2024, many incidents of reactivation of dormant Bitcoin wallets attracted great attention from the market. The wallets remained dormant for more than a decade until a large transaction suddenly occurred last year.

The following are the most representative dormant wallet activation events in 2024, analyzed by transaction amount.

High value transfer case (1,000+ BTC)

• 1. Address : 1EhXAfSTJbfpzJp9AQCrWHAPTnqWFgeEQv

Last active time : September 25, 2012

Reactivation time : July 14, 2024

Transaction hash : 26b443120d7eb8ea65ff9028d2285d57d258aabe742d4eae320f83ca856c6bd3

Total income : 1,000 BTC (~$12,000 at the time)

Total payout : 1,000 BTC (~$60 million when transferred out)

Final balance : 0 BTC

analyze :

The wallet had been dormant since September 2012 until a sudden transfer of 1,000 BTC to two new addresses on July 14, 2024. This indicates that the wallet holder may have regained access or decided to sell or reallocate the assets. Looking at time, the unit price of Bitcoin when the wallet held it was about $12.06. In comparison, the value of the transaction increased nearly 5,000 times. This transfer is considered a typical whale wallet transaction and may have some impact on market sentiment.

• 2. Address : 1B1o9yxkweyh7zbjC5EpGNPLDWHsD33NpM

Last active : November 24, 2013

Reactivation time : July 5, 2024

Transaction hash : 516b62b3a7317e519f80d4251cd58dc1aa55dbba40956658542f7a71069824c8

Total revenue : 1,004 BTC (~$737,000 at the time)

Total spent : 1,004 BTC (~$57 million when transferred out)

Final balance : 0 BTC

analyze :

The wallet transferred all 1,004 BTC to a new address on July 5, 2024, after being dormant for 10.6 years. The purchase cost of Bitcoin is approximately US$731, and the transfer amount has increased nearly 78 times from the original cost. This could indicate that holders plan to cash out, consolidate funds, or reallocate Bitcoin assets.

Medium value transfer cases (100-500 BTC)

• 3. Address : 16vRqAJ1wfuFBkVMabKnZHLkeN3uwqjzEa

Last active : September 13, 2013

Reactivation time : May 12, 2024

Transaction hash : e1c74b4d915589a5f14216d3f4587e54d6920d3885e289e54b8ae09099917760

Total income : 500 BTC (~$62,000 at the time)

Total payout : 500 BTC (~$30.45 million when transferred out)

Final balance : 0 BTC

analyze :

The wallet became active again after being dormant for 10.7 years, transferring 500 BTC worth over $30 million. Its initial funding came from 2013, when the price of Bitcoin was about $124. The simultaneous activation of wallets suggests that this may be an operation involving multiple addresses of the same holder, possibly used to merge or liquidate assets.

• 4. Address : 1DUJuHGVT4sa1VMGjfF9YdFnFAEw6NgfC5

Last active : September 12, 2013

Reactivation time : May 12, 2024

Transaction hash : a5d5e5139cb4c2b1833dfb428913a6560129f72252cec0173d730bdce99a0e1f

Total income : 500 BTC (~$62,000 at the time)

Total payout : 500 BTC (~$30.45 million when transferred out)

Final balance : 0 BTC

analyze :

This wallet was activated and completed transactions at the same time, showing a correlation with the 16vRqAJ wallet. This is further evidence that these addresses may belong to the same entity or individual and decide to move assets simultaneously if market conditions are favorable.

• 5.Address: 18qkWda6Stn4DV5JtFXZG72bep7sccdT5b

Last active: June 6, 2012

Reactivation time: November 17, 2024

Transaction Hash: 2844692fc8a017816486dd83588a67963ecfbe67e9bdf263cef618f886f2ecd2

Total earnings : 400 BTC (~$2180 at the time)

Total spent: 399 BTC (~$27.17 million when transferred out)

Final balance: 1 BTC

Analysis: The wallet was reactivated after being dormant for 12 years, allocating most of its Bitcoins to new wallets and the Bitstamp exchange, with 299 BTC transferred to the new wallet and 100 BTC transferred to the exchange. From the initial purchase price to the present, the value has increased more than 12,000 times. The portion transferred to the exchange may be used for liquidation, while the Bitcoin retained in the new wallet may be held for the long term.

• 6.Address: 1FBx7iywAN5p842yjq1HRBWRkKEpKgFwzM

Last active : January 31, 2012

Reactivation time: October 11, 2024

Transaction Hash: 7eb801033c9202dd8501c5b7492467f5342f6cf98d9686d45e6700a60e95cada

Total Earnings: 100 BTC (~$551 at the time)

Total spend: 12 BTC (~$722,000 when transferring out)

Final balance: 88 BTC

analyze:

The wallet was reactivated after being dormant for 12.7 years and only transferred part of its holdings, transferring 12 BTC (approximately $722,000) to three new wallets in the ratio of 5 BTC, 5 BTC, and 2 BTC. In January 2012, when the price of Bitcoin was $5.51, the wallet initially held 100 BTC (approximately $551) and subsequently increased significantly in value. It is worth noting that the wallet still retains 88 BTC (approximately $5.28 million), indicating that this may be a strategic partial transfer rather than a complete liquidation.

Small fluctuations (>100 BTC)

• 7. Address: 1C4rE41Kox3jZbdJT9yatyh4H2fMxP8qmD

Last active: January 29, 2009

Reactivation time: September 20, 2024

Transaction Hash: 8bee6dbdbc09253ffbe51e35a910ef39428fc2ca05aa39ce0f1adaebbf8f2cfe

Total Earnings: 50.00001094 BTC (~$0.16 at the time)

Total payout: 50 BTC (~$3.19 million when transferred out)

Final balance: 0.00001094 BTC (~$0.64)

analyze:

This is an early miner wallet that received block rewards shortly after the creation of the Bitcoin network. Reactivated after 15.7 years of silence, almost all funds were transferred, leaving only a very small balance. From an initial $0.16 increase in value to $3.19 million, the wallet’s reactivation suggests a possible strategic move by early miners.

• 8. Address: 1CGT3Ywaa2upJfWtUtbXonDPNTfZPWqzmA

Last active: February 2, 2009

Reactivation time: September 20, 2024

Transaction hash: d52f4890ac3f0cf699e3187b08ba6376c4d6efbe53add15bbcc3b96b604ecec7

Total revenue: 50.00000547 BTC (~$0.06 at the time)

Total payout: 50 BTC (~$3.19 million when transferred out)

Final balance: 0.00000547 BTC (~$0.32)

analyze:

The wallet was activated after being dormant for 15.6 years, transferring almost all the funds to the new address. As a wallet that is an early participant in the Bitcoin network, its transfer behavior may be due to security considerations or liquidity needs. This transaction once again confirms that Bitcoin holder activity is increasing in early 2024.

• 9. Address: 1FHft3AFk9Zrdhk2HccSb97AgDNDsFhGuV

Last active: July 12, 2010

Reactivation time: October 25, 2024

Transaction hash: 86df0c812d1d72d32f1169bdf1216e5d3ed862f7dee91a3b5e77646c185419aa

Total revenue: 50.00000547 BTC (~$0.17 at the time)

Total payout: 50 BTC (~$3.39 million when transferred out)

Final balance: 0.00000547 BTC (~$0.32)

analyze:

The wallet became active again after 14.3 years and dispersed the funds to two new addresses. This dispersed transfer strategy may be due to risk management or fund planning considerations.

• 10.Address: 18E5d2wQdAfutcXgziHZR71izLRyjSzGSX

Last active: January 30, 2009

Reactivation time: September 20, 2024

Transaction hash: 6ce746e19b16f84abc6f5344225050a5b16e3d56aac72e0b7bd642c53c13716d

Total Earnings: 50.00001094 BTC (~$0.31 at the time)

Total payout: 50 BTC (~$3.19 million when transferred out)

Final balance: 0.00001094 BTC (~$0.64)

Analysis: This early miner wallet was reactivated after being dormant for 15.6 years, moving major funds to a new wallet. From the initial appreciation of US$0.31 to US$3.19 million, the transfer of this fund may be due to multiple considerations, including preparation for liquidation or strengthening asset security.

core insights

In 2024, similar phenomena occurred many times on the Bitcoin blockchain, and many early wallets that had been dormant for a long time became active one after another. These wallets were funded when Bitcoin was worth just a few cents and are now worth millions of dollars, with each transfer becoming a talking point in the cryptocurrency market.

Observing the whereabouts of these large transfers, we can find that some of the funds flowed to new Bitcoin addresses, and a considerable amount was transferred to exchanges. These movements may indicate that funds are about to be liquidated or reallocated. Reasons motivating these early holders may include regaining access to private keys, a change in ownership, or simply the decision to wait many years to realize a return on their investment.

The awakening of these dormant wallets not only demonstrates Bitcoin’s durability as a store of value, but also reveals many interesting facts about Bitcoin’s early history. Even after 15 years of development, the Bitcoin ecosystem is still full of amazing stories, and the activities of these early participants continue to influence the current market development trend.