A Bitcoin OG is Swapping BTC for ETH, Acquiring 19,794 ETH in the Past 6 Hours
According to a report by Jinse Finance, on-chain analytics platform Lookonchain has observed that early Bitcoin investors (OGs) are shifting from leveraged long positions in Bitcoin to spot purchases of Ethereum. This investor, who holds $1.69 billion worth of Bitcoin, recently sold $76 million in Bitcoin and opened a $295 million long position in Ethereum. Subsequently, within the past six hours, they deposited $114 million in Bitcoin to purchase $85 million worth of spot Ethereum (approximately 19,794 ETH).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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