According to on-chain statistics, a Bitcoin whale just moved around 500 BTC that had been inactive for 5 to 7 years.
As noted by an expert in a CryptoQuant article, this 500 BTC change follows the 5,000 BTC shift in currencies older than seven years.
The important indication is the “Spent Output Age Bands” (SOAB), which shows us how many Bitcoins the various age bands are presently moving on the blockchain.
The age bands relate to groupings determined by the length of time a coin has been at a certain place. For instance, any coin that has shown no movement for between two and three years will fall within the 2-3 years range. the Bitcoin age group of 5-7 years recently saw a strong increase in value.
The spent output surge amounted to around 500 BTC, likely shifted by a whale. Despite its magnitude, this transfer is far less than the 5,000 coins that circulated seven to ten years ago.
Also Read: whales and sharks are dumping as the price of Ethereum continues to drop
