According to the latest data from blockchain monitoring platform lookonchain, a newly created address (0x83C0) executed notable cross-chain activity recently. From February 23 to February 26, the address transferred 5,263 ETH (worth approximately $10.4 million) cross-chain through the NEAR Intents protocol.
Of particular interest is that the address chose not to retain the ETH, but instead converted the entire amount into 2,000 XAUT via decentralized exchanges. This transaction highlights both the efficiency of current cross-chain technology and the market appeal of XAUT as an asset.
Technical Highlights
- Cross-chain transfer completed via NEAR Intents
- 5,263 ETH moved in just four days
- Full conversion indicates strong confidence in XAUT
The time frame and scale of this operation suggest the address could belong to an institutional investor or a user with long-term allocation goals. Blockchain analysts note that such cross-chain accumulation often signals market confidence in a specific asset.