Dormant Bitcoin Whale Stuns Binance With Massive BTC Sale

According to @OnchainDataNerd, an analytics account on the X social media platform (formerly known as Twitter), there has recently been a large Bitcoin sale initiated by a dormant crypto whale.

The tweet published by the aforementioned data source says that the last time this whale showed any activity was five years ago, when they bought slightly less than 1,000 BTC on one of the world’s largest exchanges, Huobi.

Now, they have begun selling that BTC on the Binance trading platform. @OnchainDataNerd spread the word about this whale moving 301 Bitcoins to Binance. This amount of the leading cryptocurrency is worth approximately $18.57 million.

If this Bitcoin gets sold, the whale will make a realized profit of $15.47 million, according to the data shared.

7 hours ago, a 5 year-old $BTC holder 193EL deposited 301 $BTC (~$18.57M) to #BinanceIf sold all at current price, his realized profit is $15.47M5 years ago, he accumulated 801 $BTC from #HTX for $8.25MJust now, he still owns 500 $BTC (~$34.58M) with unrealized profit $29.4M pic.twitter.com/ammrS4KqRr

— The Data Nerd (@OnchainDataNerd) September 19, 2024

Five years ago, this cryptocurrency investor purchased 801 BTC on Huobi, paying $8.25 million for that crypto lump. Currently, this whale still holds 500 BTC worth $34.58 million, with an unrealized profit of roughly $29.4 million.

Over the past 24 hours, Bitcoin has experienced a nearly 5% price increase, which followed the U.S. Federal Reserve announcing a dovish pivot with a massive 50 basis point interest rate cut.