According to CoinMarketCap, hundreds of crypto wallets linked to the Silk Road transferred about $3.14 million in Bitcoin (BTC) on Tuesday after being inactive for over a decade, citing blockchain data from Arkham. The activity was flagged by Arkham as on-chain transfers from historically dormant addresses tied to Silk Road, totaling roughly $3.14 million in value, per Arkham data reported by CoinMarketCap. The update specifies the scale, timing, and estimated value of the transfers but does not detail destinations, per CoinMarketCap citing Arkham.

According to the source, on-chain wallets widely labeled as linked to the defunct Silk Road marketplace moved several million dollars worth of BTC for the first time in years, per Bitcoin blockchain transaction records. The activity involves historically dormant addresses reactivating, which traders typically flag for potential supply overhang, per publicly maintained on-chain labeling and transaction histories on the Bitcoin blockchain. Historically, movements associated with Silk Road-linked coins have drawn market attention after the U.S. Department of Justice disclosed the seizure of 50,676 BTC in 2022, prompting traders to monitor subsequent on-chain flows for potential exchange deposits, per U.S. Department of Justice announcements and Bitcoin blockchain data.

According to the source, Silk Road wallets allegedly connected to Ross Ulbricht have moved millions in Bitcoin, highlighting a large BTC on-chain transfer event relevant to market monitoring (source: user-provided post). The source includes a link for additional details on the reported transfers, signaling that further information may be available for traders assessing BTC flow activity (source: user-provided post).