TechFlow news, July 14: According to monitoring by on-chain analyst Ember (@EmberCN), a whale trading the ETH/BTC exchange rate has swapped all remaining ETH for BTC, completing a further short on the exchange rate. The address has cumulatively sold 30,139 ETH for 859 BTC, with a total transaction value of approximately $54.09 million, corresponding to a short exchange rate of 0.0285. The strategy is betting on ETH performing weaker relative to BTC, waiting to buy back more ETH after the exchange rate falls.
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