Wallet Linked to F2Pool Co-Founder Swaps $19.3M in WBTC for Ether
An address linked to Wang Chun exchanged 235.5 WBTC for 7,848.5 ETH after bitcoin fell to about $80,500, according to Bitcoin.com News.
A wallet linked to F2Pool co-founder Wang Chun exchanged 235.5 wrapped bitcoin (WBTC), valued at roughly $19.31 million, for 7,848.5 ether (ETH), Bitcoin.com News reported.
Onchain analyst EmberCN flagged the transaction early on Oct. 9. The swap followed an overnight decline in bitcoin’s price to around $80,500.
The report described the exchange as the latest in a months-long positioning strategy favoring ether over bitcoin. The move increased the wallet’s ETH holdings while reducing its exposure to bitcoin through WBTC.
Source: Bitcoin.com News
