Crypto Whale Swaps 205 BTC for Nearly 7,000 ETH in Major On-Chain Trade

According to blockchain analytics platform Lookonchain, whale address 0x2bd7 exchanged 205 Bitcoin for 6,973 Ether worth $13.45 million at a 0.02944 BTC/ETH rate within five hours on February 25.

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Summary

Blockchain tracker Lookonchain reported that on February 25, whale address 0x2bd7 conducted a major on-chain swap, exchanging 205 BTC valued at $13.45 million for 6,973 ETH at a conversion rate of 0.02944 BTC per ETH. The transaction was completed within five hours and is notable for its size, potentially affecting liquidity and market sentiment for both Bitcoin and Ether.

Terms & Concepts
  • On-chain transaction: A cryptocurrency transfer recorded directly on a blockchain, ensuring transparency and immutability.
  • Whale: A term for an individual or entity holding large amounts of cryptocurrency that can influence market prices.
  • Lookonchain: A blockchain analytics platform that monitors wallet movements and large crypto transactions.