According to @lookonchain, a Bitcoin wallet that had been dormant for six years has transferred 1,042 BTC, currently valued at $122.54 million, to a new wallet address. The report notes that this wallet initially received the 1,042 BTC from Braiins Mining and Xapo Bank six years ago, when the price of Bitcoin (BTC) was only $8,746 per coin. For traders, the activation of such a significant, long-dormant holding can signal potential selling pressure or portfolio restructuring, often leading to increased market volatility and warranting close observation of on-chain data.

According to Crypto Rover, Xapo Bank, a $3.25 billion crypto wealth manager, has introduced Bitcoin-backed loans offering up to $1 million. This move is seen as a significant step towards the mainstream adoption of cryptocurrency, providing users with the ability to leverage their Bitcoin holdings without selling them.