A Bitcoin whale has stirred the crypto market by moving approximately $188 million worth of BTC to a new address on Sunday, ending a dormancy period of nearly eight years. According to onchain data from Arkham via Onchain Lens, the wallet with identifier "356my…BAsmK" transferred 2,931 BTC to an unmarked address, "bc1qn…8gp25," at around 3:41 p.m. ET.
The receiving address has not moved the funds since the transfer. The sending wallet had last been active on October 23, 2018, when Bitcoin was trading at roughly $6,475—meaning the holding has appreciated nearly tenfold in value.
While the motive behind the transaction remains unclear, such large-scale movements often signal potential profit-taking or preparation for market sales. This activity echoes similar patterns observed during Bitcoin’s all-time high last year, when multiple long-dormant wallets reactivated. Notably, in July 2025, another entity moved over $8.7 billion in BTC after 14 years of inactivity.
As of 10:00 p.m. ET, Bitcoin is trading at $63,376, down 1% over the past 24 hours, according to The Block's Bitcoin price page.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.