Ethereum’s big bet: Matrixport transforms its strategy and looks forward to a brighter future

Matrixport has adjusted its strategy to buy a large amount of Ethereum (ETH), reversed its previous strategy of selling ETH and instead bought Bitcoin (BTC). The move shows that market confidence in Ethereum is rekindled, which may be driven by the upcoming network upgrades such as Ethereum 2.0 and the growing popularity of institutional investors through products such as ETN and futures. While the exact transaction size has not been disclosed, market observers noted that this could affect short-term market sentiment and prices, although volatility in the cryptocurrency market means uncertainty in the overall trend.