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The ETH/BTC exchange rate rebounded to 0.02855, as a large whale sold $25 million worth of ETH to short it.
BlockBeats report, July 13, according to monitoring by EmberCN, the ETH/BTC exchange rate has recently rebounded from 0.02524 to 0.02855. A whale that specializes in ETH/BTC exchange-rate trading converted 13,708 ETH (about $25 million) into 393.4 BTC about half an hour ago, shorting ETH/BTC at a rate of 0.02855.
The whale uses an ETH-denominated trading strategy: after the ETH/BTC exchange rate falls, it switches back to more ETH. Over the past six months, through multiple exchange-rate trades, it has increased its holdings by 6,475 ETH, worth about $11.78 million at current prices.