A whale has initiated its third ETH/BTC exchange trade of the year, selling 4695 ETH for 133.8 BTC.

robot
Abstract generation in progress

BlockBeats News, July 5 – According to EmberCN monitoring, the ETH/BTC exchange rate has rebounded from a low of 0.0252 to 0.0285 over the past month. A whale, who has accumulated a total of 6,389 ETH (approximately $11.34 million) in coin-based profits through two ETH/BTC exchange rate trades this year, has started its third ETH/BTC exchange rate trade today, selling 4,695 ETH at a rate of 0.0285 in exchange for 133.8 BTC.

The whale is betting that the ETH/BTC exchange rate will weaken in the future, meaning ETH will appreciate less or depreciate more compared to BTC. On-chain data shows that the whale's first two ETH/BTC swing trades this year both involved selling ETH at high exchange rates and buying back ETH at low rates, accumulating a total of 6,389 ETH.

Specifically, in early January, the whale sold 22,345 ETH in exchange for 774 BTC, and at the end of January, bought back 24,564 ETH, making a profit of 2,219 ETH; in mid-April, the whale sold 24,564 ETH in exchange for 784.7 BTC, and in early June, bought back 28,734 ETH, making an additional profit of 4,170 ETH.

ETH-1.22%
BTC-0.41%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned