There are dormant wallets that do not move for many years as well as wallets in which Bitcoins move heavily.
The recent surge in wallets containing large amounts of long-dormant Bitcoin has frightened the cryptocurrency community on Twitter.
As the crypto community debates the possible reasons behind such movements in wallets, they fear that the whales' move could negatively impact the BTC price, Coindesk reported.
Because in the last few weeks, whales have carried large amounts of BTC. For example, a wallet that was last active in 2012 moved over 400 BTC ($11 million) a few days ago. The Bitcoin whale moved 360 Bitcoins to one wallet and 40 Bitcoins to other wallets.
While it is not known why these wallets moved after a long time, various speculations spread about this issue.
Commenting on this, CEHV partner Adam Cochrane said on Twitter:
“We are currently seeing a large number of wallets that have been dormant for 10 years awakening, suddenly revived across multiple assets.
Unless these wallets are somehow related to Mt Gox, these wallets may have been hacked."
Apart from this, it is also evaluated that such security concerns for perennial wallets may have caused Bitcoin movement in whale wallets recently.
But for now, these conversations did not go beyond speculation.
*Not investment advice.
