Crypto Analyst Matrixport Shifts Strategy, Selling Ethereum for Bitcoin

Crypto analytics firm Matrixport has made significant trading activity in the last few hours. Their wallets transferred a substantial amount of Ethereum to major exchanges: 95,873 ETH ($452 million) was deposited on Binance and OKX. Notably, a further $272 million worth of Bitcoin (BTC) was withdrawn from these same wallets. This suggests Matrixport is selling their Ethereum holdings for Bitcoin purchases.