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白鲨观点
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BTC woke up after 16.5 years, and the old miners are getting back to work.
Today there was a pretty interesting on-chain message: after 16.5 years of dormancy, 7 miner addresses transferred 350 BTC, worth about 28 million dollars.
Coins mined in 2010, when a laptop could still mine them and the cost was basically zero. They sat untouched for 16 years, and now they suddenly moved.
If you ask whether the keys were forgotten? That doesn’t seem likely; seven addresses woke up at the same time. If you ask whether they’re about to sell? That’s not necessarily the case either; maybe they’re just moving to a cold wallet.
But news like this about "ancient addresses waking up" always sparks a wave of discussion. Old-timers know that if these addresses really dump, the psychological impact on the market is far greater than the actual selling pressure. 350 BTC, in today’s daily trading volume, is barely a drop in the bucket, but the narrative that "the genesis miners are selling" is enough to panic retail investors.
Interestingly, on the other side, a16z is still steadily adding to its HYPE position, and its unrealized gains are already close to 100 million dollars. When some sell, others buy; when some leave, others enter — that’s the market.
No matter how many coins the old miners have, they still can’t match the money coming in from new entrants. What really determines price has never been the existing supply, but the incremental supply.
Recently, a few other whale addresses have also been making quiet moves on-chain. I put together a tracking list — come check out my chatroom to see where all that smart money is flowing. $HYPE
#hype #BTC
Today there was a pretty interesting on-chain message: after 16.5 years of dormancy, 7 miner addresses transferred 350 BTC, worth about 28 million dollars.
Coins mined in 2010, when a laptop could still mine them and the cost was basically zero. They sat untouched for 16 years, and now they suddenly moved.
If you ask whether the keys were forgotten? That doesn’t seem likely; seven addresses woke up at the same time. If you ask whether they’re about to sell? That’s not necessarily the case either; maybe they’re just moving to a cold wallet.
But news like this about "ancient addresses waking up" always sparks a wave of discussion. Old-timers know that if these addresses really dump, the psychological impact on the market is far greater than the actual selling pressure. 350 BTC, in today’s daily trading volume, is barely a drop in the bucket, but the narrative that "the genesis miners are selling" is enough to panic retail investors.
Interestingly, on the other side, a16z is still steadily adding to its HYPE position, and its unrealized gains are already close to 100 million dollars. When some sell, others buy; when some leave, others enter — that’s the market.
No matter how many coins the old miners have, they still can’t match the money coming in from new entrants. What really determines price has never been the existing supply, but the incremental supply.
Recently, a few other whale addresses have also been making quiet moves on-chain. I put together a tracking list — come check out my chatroom to see where all that smart money is flowing. $HYPE
#hype #BTC
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