Archaeology 2024 "Return of the Legends": The Top Ten Bitcoin Whales, with the highest transfer exceeding 1000 BTC and the lowest cost under 1 dollar
This article will focus on analyzing the cases of reactivation of the top ten most influential Bitcoin whale wallets, exploring the various possible reasons behind these activities, and analyzing how they may potentially impact market sentiment, pricing, and the dynamic development of the entire crypto ecosystem.Source: Bitquery
Compiled by: Yuliya, PANews
In 2024, the Bitcoin blockchain once again brought unexpected surprises—multiple Bitcoin wallets that had been dormant for over a decade suddenly reactivated. These wallets, which had been silent for many years, suddenly transferred large amounts of Bitcoin, sparking widespread attention and discussion in the cryptocurrency space. The market has speculated extensively on why these wallets were reactivated, especially in cases involving large transactions.
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 after many years. This article will focus on analyzing the ten most influential Bitcoin whale wallets that have been reactivated, exploring the various possible reasons behind these activities, and analyzing how they could potentially impact market sentiment, pricing, and the dynamic development of the entire crypto ecosystem.
What are Dormant Wallets?
Dormant wallets refer to Bitcoin addresses that have not engaged in transactions or fund transfers for a long time, typically lasting for many years or even over a decade. These wallets remain inactive for extended periods, neither accepting new funds nor transferring out assets.
When such wallets suddenly become active and transfer funds, the market generally shows a keen interest in the reasons for their activation. This could be due to the holder recovering a lost private key, a change in ownership, or the holder deciding to utilize their accumulated Bitcoin wealth.
Such situations often trigger market volatility and may affect Bitcoin prices, while also sparking speculation about the identity of the wallet holders and the stories behind them.
Analysis of Significant Wallet Reactivations in 2024
In 2024, several events of dormant Bitcoin wallets reactivating drew significant market attention. These wallets had remained inactive for over a decade until suddenly making large transactions last year.
Here are some of the most representative dormant wallet activation events in 2024, analyzed by transaction amount.
High-Value Transfer Cases (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 (approximately $12,000 at the time)
Total Expenditure: 1,000 BTC (approximately $60 million at the time of transfer)
Final Balance: 0 BTC
Analysis:
This wallet had been dormant since September 2012 until it suddenly transferred 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 redistribute assets. At the time of holding Bitcoin, the purchase price was about $12.06, and the value of this transaction has increased nearly 5,000 times. This transfer is seen as a typical whale wallet transaction and may have a certain impact on market sentiment.
- 2. Address: 1B1o9yxkweyh7zbjC5EpGNPLDWHsD33NpM
Last Active Time: November 24, 2013
Reactivation Time: July 5, 2024
Transaction Hash: 516b62b3a7317e519f80d4251cd58dc1aa55dbba40956658542f7a71069824c8
Total Income: 1,004 BTC (approximately $737,000 at the time)
Total Expenditure: 1,004 BTC (approximately $57 million at the time of transfer)
Final Balance: 0 BTC
Analysis:
This 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 was about $731, and the transfer amount increased nearly 78 times from the original cost. This may indicate that the holder plans to cash out, consolidate funds, or redistribute Bitcoin assets.
Medium-Value Transfer Cases (100-500 BTC)
- 3. Address: 16vRqAJ1wfuFBkVMabKnZHLkeN3uwqjzEa
Last Active Time: September 13, 2013
Reactivation Time: May 12, 2024
Transaction Hash: e1c74b4d915589a5f14216d3f4587e54d6920d3885e289e54b8ae09099917760
Total Income: 500 BTC (approximately $62,000 at the time)
Total Expenditure: 500 BTC (approximately $30.45 million at the time of transfer)
Final Balance: 0 BTC
Analysis:
This wallet reactivated after being dormant for 10.7 years, transferring 500 BTC worth over $30 million. Its initial funding source was from 2013 when Bitcoin was purchased at about $124. The simultaneous activation of the wallet suggests that this may be an operation involving multiple addresses of the same holder, possibly for consolidation or liquidation of assets.
- 4. Address: 1DUJuHGVT4sa1VMGjfF9YdFnFAEw6NgfC5
Last Active Time: September 12, 2013
Reactivation Time: May 12, 2024
Transaction Hash: a5d5e5139cb4c2b1833dfb428913a6560129f72252cec0173d730bdce99a0e1f
Total Income: 500 BTC (approximately $62,000 at the time)
Total Expenditure: 500 BTC (approximately $30.45 million at the time of transfer)
Final Balance: 0 BTC
Analysis:
This wallet was activated and completed a transaction at the same time, showing a connection with the 16vRqAJ wallet. This further confirms that these addresses may belong to the same entity or individual, and they decided to move assets simultaneously when market conditions were favorable.
- 5. Address: 18qkWda6Stn4DV5JtFXZG72bep7sccdT5b
Last Active Time: June 6, 2012
Reactivation Time: November 17, 2024
Transaction Hash: 2844692fc8a017816486dd83588a67963ecfbe67e9bdf263cef618f886f2ecd2
Total Income: 400 BTC (approximately $2,180 at the time)
Total Expenditure: 399 BTC (approximately $27.17 million at the time of transfer)
Final Balance: 1 BTC
Analysis: This wallet reactivated after being dormant for 12 years, allocating most of its Bitcoin to new wallets and the Bitstamp exchange, with 299 BTC transferred to a new wallet and 100 BTC to the exchange. The value has increased over 12,000 times from the initial purchase price. The portion transferred to the exchange may be intended for cashing out, while the Bitcoin retained in the new wallet may be for long-term holding.
- 6. Address: 1FBx7iywAN5p842yjq1HRBWRkKEpKgFwzM
Last Active Time: January 31, 2012
Reactivation Time: October 11, 2024
Transaction Hash: 7eb801033c9202dd8501c5b7492467f5342f6cf98d9686d45e6700a60e95cada
Total Income: 100 BTC (approximately $551 at the time)
Total Expenditure: 12 BTC (approximately $722,000 at the time of transfer)
Final Balance: 88 BTC
Analysis:
This wallet reactivated after being dormant for 12.7 years, transferring only a portion of its holdings, moving 12 BTC (approximately $722,000) in three transactions of 5 BTC, 5 BTC, and 2 BTC to three new wallets. The wallet initially received 100 BTC (approximately $551) when Bitcoin was priced at $5.51 in January 2012, and its value has since surged significantly. Notably, the wallet still retains 88 BTC (approximately $5.28 million), indicating that this may be a strategic partial transfer rather than a complete liquidation.
Minor Fluctuations (>100 BTC)
- 7. Address: 1C4rE41Kox3jZbdJT9yatyh4H2fMxP8qmD
Last Active Time: January 29, 2009
Reactivation Time: September 20, 2024
Transaction Hash: 8bee6dbdbc09253ffbe51e35a910ef39428fc2ca05aa39ce0f1adaebbf8f2cfe
Total Income: 50.00001094 BTC (approximately $0.16 at the time)
Total Expenditure: 50 BTC (approximately $3.19 million at the time of transfer)
Final Balance: 0.00001094 BTC (~$0.64)
Analysis:
This is an early miner wallet that received block rewards shortly after the Bitcoin network was established. After 15.7 years of dormancy, it reactivated and transferred nearly all its funds, leaving only a minimal balance. The value increased from an initial $0.16 to $3.19 million, indicating that early miners may have taken strategic actions.
- 8. Address: 1CGT3Ywaa2upJfWtUtbXonDPNTfZPWqzmA
Last Active Time: February 2, 2009
Reactivation Time: September 20, 2024
Transaction Hash: d52f4890ac3f0cf699e3187b08ba6376c4d6efbe53add15bbcc3b96b604ecec7
Total Income: 50.00000547 BTC (approximately $0.06 at the time)
Total Expenditure: 50 BTC (approximately $3.19 million at the time of transfer)
Final Balance: 0.00000547 BTC (~$0.32)
Analysis:
This wallet was activated after being dormant for 15.6 years, transferring nearly all its funds to a new address. As a wallet belonging to an early participant in the Bitcoin network, its transfer behavior may be due to security considerations or cashing out needs. This transaction further confirms that the activity of early Bitcoin holders is increasing in 2024.
- 9. Address: 1FHft3AFk9Zrdhk2HccSb97AgDNDsFhGuV
Last Active Time: July 12, 2010
Reactivation Time: October 25, 2024
Transaction Hash: 86df0c812d1d72d32f1169bdf1216e5d3ed862f7dee91a3b5e77646c185419aa
Total Income: 50.00000547 BTC (approximately $0.17 at the time)
Total Expenditure: 50 BTC (approximately $3.39 million at the time of transfer)
Final Balance: 0.00000547 BTC (~$0.32)
Analysis:
This wallet reactivated after 14.3 years, dispersing funds to two new addresses. This strategy of dispersed transfer may be due to risk management or financial planning considerations.
- 10. Address: 18E5d2wQdAfutcXgziHZR71izLRyjSzGSX
Last Active Time: January 30, 2009
Reactivation Time: September 20, 2024
Transaction Hash: 6ce746e19b16f84abc6f5344225050a5b16e3d56aac72e0b7bd642c53c13716d
Total Income: 50.00001094 BTC (approximately $0.31 at the time)
Total Expenditure: 50 BTC (approximately $3.19 million at the time of transfer)
Final Balance: 0.00001094 BTC (~$0.64)
Analysis: This early miner wallet reactivated after being dormant for 15.6 years, transferring most of its funds to a new wallet. The value increased from an initial $0.31 to $3.19 million, and the transfer of these funds may be due to multiple considerations, including preparation for cashing out or enhancing asset security.
Key Insights
In 2024, similar phenomena occurred multiple times on the Bitcoin blockchain, with several long-dormant early wallets becoming active one after another. These wallets received funds when Bitcoin was worth just a few cents and have now appreciated to million-dollar levels, with each transfer becoming a focal topic in the cryptocurrency market.
Observing the destinations of these large transfers reveals that some funds flowed to new Bitcoin addresses, while a significant amount was transferred to exchanges. These trends may suggest that funds are about to be cashed out or redistributed. The reasons prompting these early holders to act may include regaining access to private keys, changes in ownership, or simply deciding to realize investment returns after many years of waiting.
The awakening of these dormant wallets not only showcases Bitcoin's durability as a store of value but also reveals many intriguing stories hidden in Bitcoin's early history. Even after 15 years of development, the Bitcoin ecosystem remains filled with astonishing tales, and the activities of these early participants continue to influence the current market dynamics.
