I would recommend you pay quarterly taxes on your crypto gains.
Crypto sales are accounted for in First in first out basis. So the date you bought the first one is the date the used for the sale of the first sold. In your case, August 15 2024 is when you bought the first 500 coins and August 1 is the first date you sold any coins and so they are short term. The August 20 2025 sale date will take the purchase date of September 2024. So both will be treated as short term sales. This will all be reflected in the new crypto reporting Form 1099-DA.
If you had chosen to have the election of First in last out with your crypto platform, then only will your sales show as long term. This election had to be made by December 31, 2024. Now this cannot be changed.
