1inch Investment Fund’s Crypto Wallet Acquires 6,088 ETH
The 1inch Investment Fund’s crypto wallet has recently made a significant purchase of Ether, according to Lookonchain, a popular blockchain analysis platform. The wallet acquired 6,088 ETH at an average price of $1,655, totaling over $10 million in spending.
Key Points:
– The 1inch wallet purchased a total of 17k ETH on three occasions, spending a total of $26.8 million at an average price of $1,569.
– It sold 11k ETH for approximately $21 million when the price of Ether surged to $1,906, resulting in a profit of $3.7 million.
– The wallet currently holds more than $80 million worth of crypto-assets, including USDT, UNI, USDC, DAI, and Ether.
– This purchase comes after the completion of dollar-cost averaging transactions earlier in the year.
– Retail traders have been accumulating Ether, with addresses holding at least 10 ETH reaching a 4-week high.
– Whale activity in Ether has also increased, with addresses holding between 10 and 10,000 ETH reaching 355,000.
Hot Take:
The 1inch Investment Fund’s recent purchase of Ether shows confidence in the cryptocurrency despite its recent bearish streak. Retail traders and whales alike are accumulating Ether, indicating a positive sentiment in the market. This accumulation, along with the fund’s strategic purchase, suggests that there is still potential for growth in the value of Ether.
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