An unknown user sold 1,000 BTC mined in 2010, earning approximately $68 million.
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A wallet from 2010 woke up yesterday and dumped 1000 $BTCcashing in around $68 million 😅
That’s why we corrected pic.twitter.com/USZDjFlR0e
— Quinten | 048.eth (@QuintenFrancois) March 6, 2024
In early March, an early Bitcoin miner consolidated coins from multiple wallets.
On March 5, as the first cryptocurrency reached a new price maximum, he transferred the amount to Coinbase.
The Bitcoin exchange rate at the time the user was mining the cryptocurrency in 2010 was about $0.28.
Some commentators have suggested that the “reset” of this amount was at least one of the reasons for the correction of digital gold to levels below $62,000.
BTC/USDT hourly chart of the Binance exchange. Data: TradingView.
Their opponents noted that since the approval of spot Bitcoin ETFs in the United States, the market has become much more established. The daily trading volume of these cryptocurrency-based exchange products alone reached $10 billion.
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MILESTONE: the ten Bitcoin ETFs did $10b in volume today, smashing prev record set last Wed.. Volatility and volume go hand in hand with ETFs so not totally surprised. That said these are bananas numbers for ETfs under 2mo old. $ GO, $FBTC, $BITB, $ARKB all w record days. pic.twitter.com/rIdbhoYifV
— Eric Balchunas (@EricBalchunas) March 5, 2024
Let us recall that in January, CryptoQuant analysts drew attention to the movement of 49,866 BTC that had been “dormant” for more than five years. But the coins were not sent to the exchange.
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2024-03-06 07:49:31
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