A dormant address containing 290 Bitcoin has just been activated after 8.4 years

Four hours ago, an account containing 290 Bitcoin inactive had suddenly become active again more than eight years ago. Notably, this account transferred 85,19702 BTC or $4,012,295 to the Binance exchange. Most likely, they are selling.

a-dormant-address-containing-290-bitcoin-has-just-been-activated-after-8-4-years

Source: Whale Alert

There are many Bitcoin, ETH, XRP wallets transferring coins in the market one by one

Except for that long-time inactive account, it was recently discovered that an anonymous Bitcoin wallet was charged a minuscule fee while transferring over $2 billion worth of BTC on Monday night. Despite 44,598 BTC being moved, a mere fee was 0.00001713 BTC fee was spent – amounting to less than a dollar.

a-dormant-address-containing-290-bitcoin-has-just-been-activated-after-8-4-years

Source: Blockchain

Bitcoin’s average transaction fee spiked to over $60 when it hit an all-time high above $64,000 in April. The average cost fell to $11 in July and is now at an average of under $3 at the time of writing.

a-dormant-address-containing-290-bitcoin-has-just-been-activated-after-8-4-years[2]

Source: Bitinfocharts

In another development, the Bitcoin supply held by whales is trending up in the month of September – up 67,195 BTC totaling 6.13 million. That’s up 3.1% from this year’s low back in July indicating increased demand from larger institutional buyers over the last two months. Supply held by whales includes entities that hold over 1,000 BTC, excluding exchange balances and other known holdings like GBTC. As AZCoin News reported, MicroStrategy’s latest 5,050 BTC makes up 7.5% of this move.

This is in comparison to Ethereum transaction fees which spiked at a high of $71.72 in May, falling to its current level at an average of $5.12. While nominal fees are the standard, exorbitant amounts have also been known to occur. Last December, one holder paid $82,000 in fees to send just $1.18 of BTC.

a-dormant-address-containing-290-bitcoin-has-just-been-activated-after-8-4-years[3]

Source: Whale Alert

Not too long ago, in the last few hours, many wallets were constantly transferring ETH to exchanges and anonymous wallets.

At the time of writing, BTC is changing hands at $47,081, up nearly 4% in the last 24 hours. Meanwhile, ETH is trading at $3,398.

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