Virtuals Protocol Swaps 2,880 ETH for 110.16 cbBTC ($12.67M), Posts 58.3% 3-Month Return and $4.67M Unrealized Gain

COINOTAG News (Sept. 11) — According to on-chain analyst Ai Auntie, Virtuals Protocol executed an on-chain swap of 2,880 ETH into 110.16 cbBTC approximately five hours ago, representing a notional value of about $12.67 million. The transaction highlights ongoing liquidity movements between Ethereum-denominated holdings and bitcoin-pegged token exposure.

Earlier on June 11, the protocol converted 73.399 cbBTC into ETH when ETH traded near $2,778, producing a reported 3-month return of 58.3%. That performance outpaced the contemporaneous BTC benchmark return of 42.3%, resulting in a reported unrealized gain of $4.67 million attributable to mark-to-market appreciation.