Several Bitcoin miner addresses, dormant for over a decade, have suddenly transferred over $7 million worth of BTC, as per on-chain data.
Four miner addresses, inactive since 2013, recently moved a combined total of 100 BTC after remaining dormant for 11 years. This move coincided with Bitcoin surpassing the $70,000 mark.
BTC is currently trading at $71,079, marking a more than 2% increase in the last 24 hours.
Coinbase-Funded Wallet Becomes Fourth-Largest Holder of GME Memecoin Amid Price Volatility
A fresh wallet funded by Coinbase has acquired a significant amount of GME, a memecoin inspired by Gamestop stock, spending $2 million to buy 135 million GME at $0.0148 per coin in a single transaction. This acquisition makes the wallet the fourth-largest holder of GME.
The Solana (SOL)-based memecoin, GME, is currently valued at $0.00933, experiencing a decline of over 35% in the past 24 hours but an increase of nearly 130% over the last week.
The original GME stock on the New York Stock Exchange, known for its meme stock status in 2021, surged almost 50% on Monday, rising from $22.91 to $40.08, but has since retraced and settled at $26.50 by the end of Tuesday's trading day.
In conclusion, the sudden movement of long-dormant Bitcoin miner addresses and the significant investment in GME memecoin showcase the dynamic nature of the cryptocurrency market.