This substantial purchase, which took place a mere six hours ago, underlines the fund’s commitment to capitalizing on the evolving crypto market trends.
1inch Investment Fund wallet spent $10M to buy 6,088 $ETH at $1,655 6 hrs ago.
The wallet bought a total of 17K $ETH($26.8M) at an average price of $1,569 on Jan 13, Feb 9 and Mar 14.
Then sold 11K $ETH($21M) at $1,906 on July 5, making ~$3.7M.https://t.co/QhEm3M9Mm7 pic.twitter.com/JUxzA8hFom
— Lookonchain (@lookonchain) August 28, 2023
This latest acquisition adds to the wallet’s impressive crypto portfolio, as it had previously acquired a total of 17,000 ETH, amounting to $26.8 million, at an average price of $1,569. These strategic purchases were executed on key dates, namely January 13, February 9, and March 14, demonstrating the wallet’s ability to identify opportune moments for investment.
However, the wallet’s strategy is not solely centered around accumulation. On July 5, the 1inch Investment Fund wallet executed a calculated move by selling 11,000 ETH, which was valued at $21 million, at a price of $1,906. This shrewd decision resulted in a profit of approximately $3.7 million, showcasing the fund’s adeptness at both acquisition and timely divestment.
These actions illustrate the fund’s agility and proficiency in navigating the volatile cryptocurrency landscape. The fund’s ability to strategically time its purchases and sales, coupled with its substantial investment prowess, paints a picture of a player that is not only engaged but also thriving in the crypto space.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
