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According to COINOTAG News on August 20 and monitoring by lookIntoChain, the ETH/BTC ratio declined as whale activity increased: wallet 0x6e17 executed a swap of 3,900 ETH (approximately $16.26 million) for 143.26 WBTC at an exchange rate of 0.03673. The on-chain conversion reflects a material shift from native ETH into wrapped Bitcoin, expanding WBTC holdings on Ethereum and altering liquidity distribution across ETH and BTC pools. Traders and liquidity providers should account for this confirmed transaction when assessing short-term depth and rebalancing dynamics in ETH/BTC pairs.
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