Dormant bitcoin worth $2 billion moves just days after spot bitcoin ETFs start trading, Arkham says
Quick Take Nearly 50,000 dormant BTC woke up, not even a week after spot bitcoin ETFs were approved in the U.S., Arkham finds.
Thousands of bitcoin tokens — which have only moved twice in the last 11 years — appear to have woken up.
The crypto tracker Arkham Intelligence spotted the change, stating that 49 addresses consolidated into five that now hold a cumulative 49,858 BTC -1.69% (around $2.12 billion). The last two times the bitcoin moved was in 2019 and 2013.
"$2 billion of dormant Bitcoin moved just before US market open today, across several linked addresses," Arkham wrote on the social media platform X . "Historically these Bitcoins have all moved at the same times and dates."
The movement of the dormant bitcoin comes nearly a week after the approval of 11 spot bitcoin exchange-traded funds on Jan. 10, which began trading on stock exchanges such as Cboe, NYSE and Nasdaq a day later.
Bitcoin was trading at around $42,600, down around 0.9%, at 10:30 a.m. ET on Jan. 17, according to The Block's Price Page for bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Elon Musk Sued Over Stock Fraud Twitter
Thai authorities consider approving bitcoin ETF
Trump and Musk dine with Microsoft CEO to discuss AI, cybersecurity and American jobs
Share link:In this post: Microsoft Corp.’s Satya Nadella joins Donald Trump and Elon Musk for the discussion of AI and cybersecurity The statement said that the conversation was based on several topics, including the US firm’s pledge to invest $80 billion in AI data centers globally. Over $50 billion of that investment is expected to support American jobs.
Litecoin ETF may be near SEC approval after Canary Funds amends the filing
Share link:In this post: Canary Capital filed an amended S-1 registration statement for its Litecoin ETF on January 13. Senior ETF analyst at Bloomberg Eric Balchunas believes the SEC’s recent response to Canary’s Litecoin S-1, improves the chances that a Litecoin ETF will be approved soon. Canary Capital also filed its S-1 registration statement for Solana and XRP ETFs in October.