ChainCatcher news, blockchain data monitoring platform Spot On Chain reports that ETH/BTC bull James Fickel has completed a significant transaction in the past 6 hours. He exchanged 3,500 ETH for 122.67 WBTC, with a total transaction value of approximately 12.1 million USD.

Further analysis shows that Fickel has exchanged a total of 10,000 ETH for 358.3 WBTC at a rate of 0.0358 in the past 2 days, with a total value of approximately 34.6 million USD. This move may be aimed at reducing his debt exposure on the Aave protocol. Currently, his debt on Aave is approximately 452.6 WBTC, valued at around 45 million USD.

This transaction has sparked market attention towards his strategy, especially against the backdrop of fluctuations in the ETH/BTC exchange rate.