Five long-dormant wallets transferred 107 Bitcoin — worth roughly $8.3 million — to a burn address, permanently removing the coins from circulation after more than 11 years of inactivity. Burn addresses are inaccessible wallets with no known private keys, meaning the funds cannot be recovered or spent again. The event slightly reduces Bitcoin’s already limited supply, adding to the long-term scarcity narrative that supports the asset’s value proposition. Traders are now watching whether more dormant whale wallets become active as Bitcoin remains near historically elevated price levels.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
US President Donald Trump has affirmed his support for crypto figures and the industry at…
Arthur Hayes called XRP "absolutely nothing" last week. Charles Hoskinson took a swipe at Ripple…
Bitcoin (BTC) price remained resilient after a recent event that appeared as a bearish catalyst.…
The tokenized real-world asset (RWA) market continues to grow as more Wall Street firms move…
The DOT price has spent months looking like a forgotten corner of the crypto market.…
The Monad price is finally showing signs of life this week. After spending entire June…
