Whale trader swaps $25M of ETH for BTC

A whale specializing in ETH/BTC ratio trading swapped 13,708 ETH, worth $25 million, for 393.4 BTC about 30 minutes ago, according to an analysis by EmberCN. The trade was executed at an ETH/BTC ratio of approximately 0.02855. EmberCN explained that the trader's goal is to increase their total cryptocurrency holdings. Their strategy involves swapping BTC for ETH when the ETH/BTC ratio falls, thereby increasing their ETH balance. Over the past six months, the trader has repeated this strategy multiple times, increasing their ETH holdings by approximately 6,475 ETH, valued at around $11.78 million.