Unknown whale dormant since 2013 cashes out 25,015 BTC, making a 231,778% profit

From Investing.com

August 26, 2024 4:30:19 pm:

According to Whale Alert, an unknown whale that has been dormant since 2013 suddenly transferred 25,015 BTC, purchased for $686, now valued at $1.59 million, making a 231,778% profit. The wallet came back to life for unknown reasons, possibly to transition to a new standard wallet format. This cashing out event may impact BTC price negatively.

Bitcoin remains around $63,000 per BTC, trading sideways. The unknown whale’s massive profit could impact the market sentiment. The whale’s reawakening after 11.5 years highlights the potential for significant gains in the crypto market and raises questions about the future direction of Bitcoin prices as summer ends.

Read more at Investing.com: Crazy 231,778% Profit Triggers Epic Whale Awakening By U.Today