Cryptocurrency LIVE: BTC, ETH and DOGE prices rebound after ‘dormant wallet wakes up’

Bitcoin 'not seen as a currency for transactions' says expert

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As of 7am today, Bitcoin rose by 2.14 percent over the last 24 hours, bringing the price to $32,570.40. Ethereum – the second-largest cryptocurrency – also jumped by 4.39 percent, increasing its price to $1,963.48.

Binance Coin’s price rose to £303.66 – an increase of 3.33 percent – while Cardano jumped by 2.16 percent ($1.24)

Dogecoin – which has often been backed by Tesla chief Elon Musk – also saw a rise of 1.17 percent over the last 24 hours ($0.1929).

This comes after all cryptocurrencies struggled as all prices continued to fall this week.

According to the latest figures from Coin Market Cap, Bitcoin’s seven-day average was around 2.16 percent.

Ethereum also struggled during the start of the week, with their seven-day average down by 4.99 percent.

Dogecoin’s seven-day average also tanked by 11.79 percent.

This comes as a dormant Satoshi-era Bitcoin wallet suddenly activated after nearly a decade.

The wallet – which contained more than $26million worth of cryptocurrency – was created shortly after Bitcoin’s pseudonymous creator Satoshi Nakamoto disappeared in 2012.

Movement of funds from the Bitcoin address was spotted by crypto-tracking Twitter bot Whale Alert.

640 of the 791 Bitcoins within the wallet were moved to an unknown address, according to blockchain records.

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