A whale shorted $25 million worth of the ETH/BTC exchange rate and increased its holdings by 6,475 ETH over the past six months

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Odaily Planet Daily, according to on-chain analyst Yu Jin’s monitoring, the ETH/BTC exchange rate has recently rebounded from 0.02524 to 0.02855. A certain whale that specializes in ETH/BTC exchange-rate trading converted 13.71k ETH into 393.4 BTC about half an hour ago, worth $25 million, shorting the ETH/BTC exchange rate; the executed exchange rate was 0.02855. This whale is a coin-denominated trader; if the exchange rate falls, it can convert back for more ETH. Over the past half year, it increased its coin-denominated position by 6,475 ETH through multiple exchange-rate trades, worth $11.78 million.
ETH-0.63%
BTC-1.63%
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