- A Bitcoin whale has recently transferred around 500 BTC that had been lying dormant for around 5-7 years.
- The age of cryptocurrencies could be determined thanks to the Spent Output Age Bands or SOAB indicator, which allows a person to know how many coins the different age bands of Bitcoin are currently transferring on the chain.
- Age bands refer to groups based on the amount of time a coin has been stationary in a particular direction.
The world of digital assets has ups and downs, as well as periods of recession and high rate of movement. This last point is the one that welcomes us on this occasion, since in the midst of the bearish period in which the crypto market finds itself.
It was recently recorded that a Bitcoin whale, changed places approximately 500 Bitcoins, which have the peculiarity of having been in a period of lethargy of between five to seven years.
Spent Output Age Bands: key to determining the age of non-moving coins
This movement was discovered by the analyst JA_Maartunn, and he made it known through a publication in CryptoQuant. This movement was added to another that consisted of the exchange of 5 thousand Bitcoin in coins of more than 7 years ago.
As pointed out Bitcoinist The most relevant data on this topic isThe indicator known as “Spent Output Age Bands” (Spent Output Age Bands or SOAB), which allows a person to know first-hand how many coins the different age bands of Bitcoin are currently transferring on the chain.
These Age bands are nothing more than groups based on the amount of time that a certain currency or asset remains inert in one direction.
To illustrate this, let’s take the case of any coin that hasn’t moved in two to three years. Due to the fact that just that period of time was the one that remained immobile, it is that said currency will be registered in the band of 2-3 years.
It is something very similar to how the years are measured in trees, since most develop growth rings, which usually coincide with a period of tree development.
In a cross section of the trunk, closest to the ground, the age of the tree can be determined by counting the number of rings that are observed. In this case, the time that the coins have been immobile is measured, because if said coin in question is transferred to another wallet, the movement will appear as a peak under the SOAB of 2-3 years.
Now, as noted above, what is striking about this case is the downtime, between 5 and 7 years. The production peak spent amounted to approximately 500 BTC transferred, probably because of what is known in the crypto environment as a “whale”.
While such amount is to be considered, such transfer is smaller than the movement of 5k of 7-10 year old coins recorded a while ago.
Where did this transfer go?
To know the whereabouts of the transfer, the SOAB exchange input flow is available, which sheds some light on this subject. Analyzing the trend of this indicator, it is possible to realize that there have been no unusual peaks for the SOAB exchange inflow.
Having said the above, it can be considered that the transaction was not made to centralized exchange wallets. If this is the case, then said movement of money was possibly an over-the-counter deal (OTC), if the whale made the transfer with the aim of downloading it at some point.
But, if not, then it may only be a transfer to a different personal wallet.
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