1inch Investment Fund's Crypto Wallet Makes $10M ETH Purchase After Profiting from Previous Trades; Whale Sells $41M ETH Before Market Crash
Summary:
1inch Investment Fund's crypto wallet purchases over $10 million worth of Ether (ETH) after cashing out on previous trades. The wallet bought 6,088 ETH at $1,655, following profitable trades in the first quarter of 2023. It currently holds a total of $80 million in various digital assets. A whale sold $41 million of ETH before the market crash, while Fenix International's investment in ETH decreased from $20 million to $8.5 million.
1inch Investment Fund's crypto wallet has made a significant purchase of Ether (ETH) following its successful cash-out strategy in the first quarter of 2023. The transaction, flagged by blockchain analysis platform Lookonchain, reveals that the affiliated wallet acquired 6,088 ETH at a price of $1,655, amounting to a total investment of over $10 million.
The recent purchase comes after the wallet's previous profitable moves in the ETH market. Data from the blockchain shows that the wallet acquired approximately 17,000 Ether, spending around $26 million, during three separate instances on Jan. 13, Feb. 9, and March 14. Subsequently, when the price of ETH reached $1,906 on July 5, the wallet sold approximately 11,000 ETH for a total of $21 million, resulting in a profit of approximately $3.7 million.
Currently, the wallet holds a diverse range of digital assets worth a total of $80 million. In other news related to ETH trading, a whale sold $41 million of ETH shortly before the recent market crash, avoiding potential losses of up to $5 million. Additionally, Fenix International, the parent company of subscription platform OnlyFans, purchased $20 million of ETH in 2022, which reduced in value to around $8.5 million by November of the same year.
Published At
8/28/2023 11:05:34 AM
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