'Sleeping Bitcoin' Spends Slow Down Considerably in 2022, as 92 Decade-Old BTC Worth $1.79 Million Wakes Up

‘Sleeping Bitcoin’ Spending Slows Significantly in 2022, as 92-decade-old BTC Is Valued at $1.79M – Bitcoin News

While the bitcoin price has remained range bound and coasted along the $19,000 region, more than 60% of bitcoin in circulation has not moved in a year or more. Moreover, there have been very few bitcoin transfers since 2010, and it has been more than two months since the last block support transfer in 2010. Meanwhile, the 2011 block support transaction popped up every now and then, and on October 25, 2022 From 2011, approximately 92.76 Bitcoins worth approximately $1.79 million were transferred to unknown wallets.

2010 and 2011 ‘sleeping bitcoin’ spending slows – 92 bitcoins from 2011 moved on Tuesday

On October 24, Bitcoin Supporters celebrate Bitcoin Count (BTC) that has not moved for a year or more. Bitcoin Shares a Chart From Glassnode Indicating Over 60% Of BTC In circulation it has not moved in a year or more.

'Sleeping Bitcoin' spending slows dramatically in 2022, as 92 decade-old BTC worth $1.79 million
A Glassnode chart was shared on r/bitcoin on October 24, 2022, showing that more than 60% of BTC In circulation it has not moved in a year or more.

Bitcoin.com News has also noted that the number of so-called “sleeper bitcoins” transferred in 2022 has slowed significantly since then. BTC The highest price levels are at the end of 2021. For example, data from January 2021 to September 28, 2021 152 deals Derived from “sleeper bitcoin” from 2010.

The same research showed that from January 2021 to September 2021 there were 85 transfers from 2011 “sleeper bitcoins.” Furthermore, while Bitcoin (BTC) moved to an all-time high of $69K, hundreds of millions ‘Sleeping Bitcoin’ was converted into dollars in mid-November 2021.

'Sleeping Bitcoin' spending slows dramatically in 2022, as 92 decade-old BTC worth $1.79 million
The 2011 sleeper bitcoins were discovered on October 25, 2022, at block heights of 760.212 and 760.219 by blockchain analysis tool Btcparser.com.

But this year, the number of “sleeper bitcoins” from 2010 was only 12, and the number of transactions in 2011 amounted to only 30 transfers. Moreover, it has been nearly 64 days since the last year of 2010 BTC The spending that occurred on August 22, 2022.

However, there was a total Ten transactions 2011 Since then, with two transitional issues on Tuesday 25 October 2022. And on Tuesday, 42.76 BTC converted to an unknown address and wiped out the block height 760.212.

It should be noted that the terms “exhausted” or “spent” in this article do not necessarily mean that bitcoins were “sold” to a third party for fiat currencies or other crypto assets. After 42.76 BTC Expenditure, seven support blocks later at block height 760.219, approx 50 bitcoins transferred to an unknown address.

between 42.76 BTC and 50 BTC I moved on Tuesday, the stash was worth 1.79 million USD nominal using today BTC conversion rate. Although October is not over yet, September and October saw no spending in 2010 at all, but a total of nine transfers were made in 2011 during the two-month period.

While 2022 saw much lower spending than 2010 and 2011, the year showed some types of transfers that haven’t occurred since May 2020. This year, the total support is five blocks or so 250 BTC mined in November 2009they were transferred.

Recent data from Glassnode shows that more than 60% of . files BTC The trader has not moved in a year or more, and suggests fewer conversions in 2010 and 2011 BTC Owners wait for the bear market to end before transferring the old coins. The vast majority of the old “sleeper bitcoins” that moved in October derive from coins and block subsidies from 2012, 2013, 2014, 2015, 2016 and 2017.

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$1.79 millionAnd the 2010And the 2011And the 2012And the 2013And the 92 BitcoinAnd the BitcoinAnd the Bitcoin (BTC)And the Bitcoin miningAnd the block rewardsAnd the BTC blocksAnd the Btcparser.comAnd the MinersAnd the Spend October 25And the Dormant Bitcoin

What do you think of the slowing trend in 2010 and 2011 of “sleeping bitcoin” spending? Tell us your thoughts on this topic in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at Bitcoin.com News and a technology financial journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

photo credits: Shutterstock, Pixabay, Wiki Commons, Btcparser.com,

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