Matrixport Shifts $452M in ETH for $272M in BTC, According to Lookonchain

Lookonchain reports Matrixport transferring large amounts of ETH for BTC, with substantial withdrawals and deposits across Binance and OKX platforms.

BTC

ETH

192d ago

Summary

Lookonchain reports that Matrixport (or its clients) has been swapping ETH for BTC, with 95,873 ETH (approximately $452M) deposited into Binance and OKX, while 2,354.6 BTC (around $272M) was withdrawn from these exchanges in the past two hours. This highlights a significant shift in digital asset positions by Matrixport and its clients.

Terms & Concepts

ETH: Ethereum (ETH) is a decentralized blockchain platform known for its smart contract functionality, enabling developers to build decentralized applications (dApps).
BTC: Bitcoin (BTC) is the first and most widely recognized cryptocurrency, established as a decentralized digital currency with a finite supply of 21 million coins.