Techub News, citing on-chain analyst Ember (@EmberCN), reported that a wallet address has been persistently trading the ETH/BTC ratio by swapping Ether for Bitcoin. According to the update, the address has used 17,385 ETH, valued at about $30.95 million, to acquire 496.3 BTC. The activity was described as a strategy to short the ETH/BTC exchange ratio.
The report said the address has recently continued this ETH/BTC ratio trade and has cumulatively exchanged more than 17,000 ETH for BTC. It added that the transaction path and changes in the wallet's holdings can be verified on-chain. No other details were disclosed in the brief.
Techub News reported, citing on-chain analyst Ember (@EmberCN), that one address has continued to short the ETH/BTC ratio and has used 17,385 ETH, worth about $30.95 million, to buy 496.3 BTC.
The address has recently kept trading the ETH/BTC pair by exchanging Ether for Bitcoin as part of that short strategy. On-chain data shows the wallet has cumulatively swapped more than 17,000 ETH into BTC, and the transaction route as well as position changes can be verified on-chain.
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