BlockBeats News, July 5th, according to EmberCN monitoring, the ETH/BTC exchange rate has rebounded from a low of 0.0252 to 0.0285 in the past month. A whale who has already realized a coin-based profit through two ETH/BTC exchange rate trades this year totaling 6389 ETH (approximately $11.34 million) has today initiated the third ETH/BTC exchange rate trade of the year, selling 4695 ETH at a rate of 0.0285 and acquiring 133.8 BTC.

The whale has bet that the ETH/BTC exchange rate will weaken in the future, meaning that ETH will have a smaller increase or a larger decrease compared to BTC. On-chain data shows that this whale has sold ETH at high rates and bought back at low rates in the first two ETH/BTC swing trades of the year, accumulating a total of 6389 ETH.

Specifically, in early January, they sold 22,345 ETH to acquire 774 BTC, and by the end of January, they exchanged back to 24,564 ETH, profiting 2219 ETH; in mid-April, they sold 24,564 ETH to acquire 784.7 BTC, and in early June exchanged back to 28,734 ETH, further profiting 4170 ETH.