YUXING INFOTECH recently purchased approximately 9.6 million units of USDC and approximately 4.8 million units of USDT, selling approximately 113 units of Bitcoin and approximately 2012 units of Ethereum
YUXING INFOTECH recently purchased approximately 9.6 million units of USDC and approximately 4.8 million units of USDT, while selling around 113 units of Bitcoin and approximately 2012 units of Ethereum. The group seized the opportunity to reallocate resources and adjust its investment portfolio by converting Bitcoin and Ethereum into stablecoins
According to the announcement from Wise Finance APP, YUXING INFOTECH (08005) disclosed that between March 18, 2024 and March 20, 2024, the group conducted a series of transactions on the open market to purchase: approximately 9.6 million units of USDC at an average price of 1 US dollar per unit, with a total value of approximately 9.6 million US dollars; and approximately 4.8 million units of USDT at an average price of 1 US dollar per unit, with a total value of approximately 4.8 million US dollars.
During the period from March 18, 2024 to March 20, 2024, the group conducted a series of transactions on the open market to sell: approximately 113 units of Bitcoin at an average price of 66,000 US dollars per unit, with a total consideration of approximately 7.5 million US dollars; and approximately 2012 units of Ethereum at an average price of 3,436 US dollars per unit, with a total consideration of approximately 6.9 million US dollars.
The announcement stated that considering the current cryptocurrency market, the board of directors believes that now is an appropriate time for the group to realize its cryptocurrency investments by converting the group's holdings of Bitcoin and Ethereum into stablecoins, providing the group with an opportunity to reallocate resources and adjust its investment portfolio