During the first five days of September, dormant bitcoin wallets moved 626.74 BTC worth over $50 million, with bitcoin trading between $76,000 and $82,000. Despite the significant transfers, the rate at which vintage coins are being activated has decreased from the previous month.
On September 5, eight wallets created in 2013 became active simultaneously, each transferring 25 BTC at block height 965625 within 25 seconds of each other. The transfers, totaling 200 BTC, appeared to originate from a single entity consolidating holdings. Half of the transferred amount was sent to the crypto custodian Bitgo, according to Arkham Intelligence.
Wallets from 2013 accounted for the majority of September's dormant activity, with 346.07 BTC spent across nine separate transfers. Three wallets from 2011 moved 90.50 BTC worth $7.22 million on September 3. The original value of 80 BTC from a wallet created on November 5, 2011, when bitcoin traded at $3.15, had grown to approximately $6.08 million by September. An additional 10.5 BTC from a wallet created on October 29, 2011, contributed to the total movement.
Other dormant wallets also showed activity, including 40.91 BTC from a 2012 wallet, 40.27 BTC from two 2014 addresses, 50 BTC from a 2015 wallet, and 58.97 BTC from 2017 wallets.
September's dormant wallet activity represents only 9.75 percent of August's total movements. The average daily spend from old wallets in August was approximately 214.25 BTC, compared to around 125.34 BTC daily through early September.
