On-chain data shows a Bitcoin whale has moved a 3.7k BTC stack that had previously been sitting idle since 10 years ago.
Bitcoin Whale Suddenly Transfers Coins Sitting Idle Since 2012
As pointed out by an analyst in a CryptoQuant post, these coins moved by the OG whale had been sitting still since the crypto’s price was just $10.
The relevant indicator here is the “Spent Output Age Bands” (SOAB), which tells us which group in the Bitcoin market is moving how many coins.
Coins are put into “age bands” or groups based on the amount of time they have been dormant for in a single wallet. For example, the 6m-12m age band includes all coins that have been sitting still since between 6 and 12 months ago.
When some of these coins from this group would eventually move to another address, the movement will show up as a spike in the SOAB graph for this age band.
Now, here is a chart that shows the trend…
