ETH/BTC has rebounded from 0.02524 to 0.02855, according to monitoring by EmberCN. After the move higher, a whale focused on trading the ETH/BTC pair swapped 13,708 ETH, worth about $25 million, for 393.4 BTC around half an hour before the report. The trade was executed at an exchange rate of 0.02855 and was described as a short on ETH/BTC. EmberCN said the whale uses a coin-margined strategy, aiming to exchange back into more ETH if the ratio falls. Over the past six months, the address has accumulated an additional 6,475 ETH through multiple ratio trades. Based on the current price cited in the report, those added holdings are worth about $11.78 million.
Whale re-enters an ETH/BTC ratio trade
BlockBeats reported on July 13, citing EmberCN, that the ETH/BTC exchange rate has recently rebounded from 0.02524 to 0.02855.
About half an hour before the report, a whale known for trading the ETH/BTC ratio swapped 13,708 ETH, worth about $25 million, for 393.4 BTC. The position was opened at 0.02855 as a short on ETH/BTC.
6,475 ETH added over the past six months
According to the report, the whale uses a coin-margined strategy and plans to switch back into more ETH after the ETH/BTC ratio falls. Over the past six months, the address has increased its ETH holdings by a cumulative 6,475 ETH through multiple ratio trades, valued at about $11.78 million at the current price cited in the report.
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