A cryptocurrency whale, who previously profited 6,389 ETH (approximately $11.34 million) from two ETH/BTC exchange rate trades, is once again betting on a decline in the ETH/BTC exchange rate. According to on-chain analyst Yu Jin, the whale has initiated a third trade by selling 4,695 ETH to acquire 133.8 BTC at an exchange rate of 0.0285.
The whale's strategy involves capitalizing on fluctuations in the ETH/BTC exchange rate. Earlier this year, the whale executed two successful trades: in January, selling 22,345 ETH for 774 BTC and later buying back 24,564 ETH, and in April, selling 24,564 ETH for 784.7 BTC and repurchasing 28,734 ETH in June. These trades resulted in a net gain of 6,389 ETH. The current trade suggests the whale anticipates ETH will underperform BTC, either by rising slower or falling more.
Whale Bets on ETH/BTC Decline After Profiting 6,389 ETH from Previous Trades
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