Two previously inactive Bitcoin whales, whose wallets had not moved since 2014, transferred a total of 3,422 BTC worth approximately $324.2 million on Tuesday morning. These significant movements mark some of the largest transfers by long-dormant Bitcoin holders in several years. One whale, identified by the address “1NWPS,” moved 2,343 BTC, while another, “1PiEK,” transferred 1,079 BTC.
On-chain data reveals a notable surge in the activity of whales holding old coins: the first quarter of 2025 recorded over 110% more dormant Bitcoin being transferred compared to the same period in 2024—with 62,800 BTC aged over seven years moved in Q1 2025 versus 28,000 BTC in Q1 2024. This trend of old wallets becoming active aligns with other recent whale movements, including a wallet inactive since 2016 transferring more than 3,000 BTC in March, and another moving 50 BTC after 15 years in April.
The reasons behind such whale activity remain unclear due to the anonymous nature of crypto wallets. Typically, large holders might move funds to capitalize on high prices, to reorganize storage, or simply after regaining access. Despite the uncertainty, such substantial transfers attract significant attention and have the potential to influence market sentiment.