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A whale has shorted $25 million worth of ETH/BTC, increasing their position by 6,475 ETH over the past six months.
Svmuu News: According to on-chain analyst Yu Jin, the ETH/BTC exchange rate has recently rebounded from 0.02524 to 0.02855. A whale specializing in ETH/BTC exchange rate trading exchanged 13,708 ETH for 393.4 BTC half an hour ago—worth $25 million—to short the ETH/BTC exchange rate, at an exchange rate of 0.02855. This whale is a crypto-denominated trader; if the exchange rate falls, they can redeem more ETH. Over the past six months, through multiple exchange rate trades, they have increased their crypto holdings by 6,475 ETH, valued at $11.78 million.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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