ETH/BTC Drops Below 0.03 as Whale Adds 27,501 ETH in UBTC Swap

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ETH
$2,410.03-0.77%
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$81,724.900.16%
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ETH price fell below 0.03 against BTC for the first time since the market rally began on August 19. A whale known as the "UBTC to ETH swapper" added 27,501 ETH over the past 10 hours by converting 837.78 UBTC. The swap is valued at over $69.78 million at an ETH price of 0.03046. The trade currently reflects a $1 million paper loss. ETH analysis suggests large holders are adjusting their positions amid changing market conditions.

PANews, October 13: According to Ai Yi (@ai_9684xtpa), the ETH/BTC exchange rate has fallen below 0.03 for the first time since the current market rally began on August 19. However, the "UBTC-to-ETH whale" continues to accumulate: this address added more holdings 10 hours ago, having now converted a total of 837.78 UBTC into 27,501 ETH since the previous day, with a total value exceeding $69.78 million at an exchange rate of 0.03046. At today’s rate, this position is currently showing an unrealized loss of approximately one million dollars.

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