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Bitcoin's oldest coin will wake up at an unusual rate in 2026

2026-08-30 00:09:37
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Bitcoin, which has been dusty for more than ten years, has frequent changes: activity hits a new high in recent years in 2026

According to the latest data from Galaxy Research, the bitcoins that have been sleeping the longest on the Internet this year-those that have not been used for a decade or more-are awakening at an unusual pace. A chart released by the agency last week tracked the number of bitcoins generated in different years that were "awakened" in each subsequent calendar year since 2012, and classified by number of years held. The most eye-catching thing is the red at the bottom of the 2026 bar chart: a clear color band representing the movement of ten years old and older.

Since 2026 is not over yet, the Galaxy study used cross-hatching on the bar chart to show that the data cannot be directly compared to the full year next to it. However, the oldest holding group has become more prominent than in most previous years-a decade before the movement of old coins was almost invisible.

This trend has accelerated further in recent weeks. According to Galaxy Research, six wallets that have been dormant since 2011, 2012 and 2014 moved a total of 553.59 bitcoins, worth approximately US$40.15 million, between August 16 and 26. One of the addresses transferred 212 bitcoins (approximately US$13.66 million) that had not been touched since August 2012. They had been held for 14 years, with an increase of approximately 557,640% based on a cost price of approximately US$12. Another address moved 10.74 bitcoins (approximately $692,000) that had been dormant since June 2011. The highest yield was 40 bitcoins, last held in May 2012 and flowed into the German custodian bank Boerse Stuttgart Digital, achieving a staggering 1,535,911% increase.

The reason why such an old currency movement has attracted attention is that few of the early holders of Bitcoin can still control the private key, and every awakening may signal the return of a long-dormant supply to circulation. It is difficult to tell from on-chain data alone whether these coins were sold, transferred to new custodians, or centralized integration, and in most recent cases, these funds have flowed to professional infrastructure rather than the open market.

Two forces may help explain this wave of activity. Several of the awakened wallets bear the "Salomon Client Dusted" tag in connection with the Noah Doe case-a New York state lawsuit that seeks to declare about 39,069 dormant addresses abandoned property; the marked wallets have been active regularly since a judge suspended the case in June. In addition, during the cold wallet brand Coldcard hardware wallet exploit, approximately 233,000 bitcoins left the wallets of long-term holders, and panicked holders moved funds to more secure facilities.

These awakening events occur during periods of market turmoil. Bitcoin fell to a low of $76,877 on Friday, giving up most of its previous double-digit weekly gains after Federal Reserve Chairman Kevin Warsh warned in his first Jackson Hole keynote speech that inflation was not cooling fast enough and the central bank still had "work to do." Traders interpreted the comment as a hawkish signal, with the probability of a September rate hike jumping from 35% the day before to about 56%, according to the Chicago Mercantile Exchange's FedWatch tool.

However, the long-term background remains positive. As of Wednesday, the U.S. spot Bitcoin ETF had net inflows of $2.8 billion for eight consecutive days, setting the longest inflow since April. At the same time, Myriad predicts that market traders will continue to be bullish on Bitcoin rising to $84,000 rather than falling to $55,000.

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