October’s Dormant Bitcoin Awakenings Cool as Transfers Plunge 81% From August

Dormant bitcoin wallets dating back to 2012 moved 2,159.15 BTC valued at $167.56 million last month, marking a second consecutive monthly slowdown. Despite the declining activity, wallets originating in 2013 dominated the month, while addresses from Bitcoin’s earliest years remained conspicuously absent. October brought another round of long-sleeping bitcoin wallets back to life, but the action was considerably quieter than the fireworks witnessed in August and September. Between Oct. 1 and Oct. 30, btcparser.com tracked 35 transfers involving 2,159.15 BTC, worth approximately $167.56 million using a reference price of $77,606 per coin. The month’s biggest transaction came on Oct. 20, when a wallet established Jan. 23, 2016, moved a whopping 500 BTC valued at $38.80 million. Yet that blockbuster transfer concealed a broader retreat in dormant bitcoin spending.

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