Onchain Lens reports a long-inactive Bitcoin whale transferred 650.76 BTC to Gemini, potentially realizing over $25 million in profits from coins acquired at significantly lower prices.
On February 23, Onchain Lens reported a dormant Bitcoin whale deposited 650.76 BTC, valued at about $43.05 million, into the U.S.-based exchange Gemini. The transfer occurred three hours before the report and originated from holdings withdrawn from Coinbase at an original cost of $17.68 million. If sold, the move could net the whale approximately $25.37 million in profit.