en.bitcoinsistemi.com
A sleeping whale known by the short wallet address 0xba8 made a significant profit by moving all of his Livepeer ($LPT) altcoins to Coinbase. After six months of inactivity, Whale deposited 114,637 $LPT, equivalent to $2.18 million, at a price of $19.03 per token.
Whale had previously withdrawn these $LPT tokens from Coinbase between April 29 and August 8, 2023, at an average cost of only $5.46 (estimated cost: $626K). If Whale sells now, he will make an estimated profit of $1.56 million after just six months, a 249% return.
However, the whale's sale came during a significant pump in the $LPT price. $LPT has increased by 130% in the last week. The altcoin, which has experienced a slight decrease from the peak value sold by the whale, is trading at $ 17.47 at the time of writing this article.
In an interesting development, another smaller whale also bought from Coinbase around the same time the previous whale sold. The whale attracted 12,190 $LPT worth $229,493 at a price of $18.82 per token. In total, over the past 17 hours, the whale accumulated a total of 132,991 $LPT, equivalent to $2.5 million, from Coinbase at an average price of $19.17.
*This is not investment advice.