A whale that made a profit of 6,389 ETH from two ETH/BTC exchange rate trades is once again betting on a decline in the ETH/BTC exchange rate

CoinFeed July 5 news, according to on-chain analyst Yu Jin monitoring, the ETH/BTC exchange rate has strengthened in the recent month, rebounding from a low of 0.0252 to the current 0.0285. The whale, who made a profit of 6,389 ETH (11.34 million USD) in token-denominated terms through two ETH/BTC exchange rate trades this year, has started a third ETH/BTC exchange rate trade: selling 4,695 ETH to buy 133.8 BTC at an exchange rate of 0.0285. The whale is betting that the ETH/BTC exchange rate will continue to decline, meaning ETH will rise slower or fall more than BTC. In the previous two ETH/BTC exchange rate trades this year, the whale sold ETH at the exchange rate high and then bought back after the rate plunged.