1inch Investment Fund Accumulates $10 Million in Ethereum Amid Market Downturn
A blockchain tracker has discovered that the investment fund associated with the decentralized exchange aggregator 1inch has acquired $10 million worth of Ethereum over the weekend. The tracker, Lookonchain, also found that the fund purchased 17,000 ETH valued at $26.8 million from January to March.
Key Points:
– 1inch’s investment fund wallet accumulated $10 million in Ethereum.
– The wallet also bought 17,000 ETH worth $26.8 million earlier this year.
– It sold 11,000 Ethereum for a profit of $3.7 million.
– Another wallet spent 27 ETH to buy 50 billion Pepe coins.
– The wallet made significant profits from selling PEPE coins.
The second-ranked cryptocurrency by market cap, Ethereum, is currently trading at $1,727, experiencing a 5% increase in the past 24 hours. The blockchain tracker also noted that a wallet known as dimethyltryptamine.eth spent 27 ETH to purchase 50 billion PEPE coins, making substantial profits from the trade.
In conclusion, the investment fund associated with 1inch accumulated a significant amount of Ethereum, indicating investor confidence in the cryptocurrency. Additionally, the surge in the price of Ethereum in the past 24 hours shows positive market sentiment. The purchase of PEPE coins by another wallet demonstrates the potential for substantial gains in the cryptocurrency market.
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