1inch Investment Fund’s crypto wallet has made a significant move by acquiring 6,088 Ethereum (ETH) tokens at an average price of $1,655 per token, resulting in a substantial investment exceeding $10 million. This strategic move comes on the heels of the fund’s successful dollar-cost averaging (DCA) purchases earlier in the first quarter of 2023. Notably, the wallet had previously undertaken a series of purchases, accumulating a total of 17,000 ETH across three instances, with an average price of $1,569 per ETH. This calculated accumulation bore fruit when the wallet capitalized on the surge in ETH’s value, selling around 11,000 ETH at a price of $1,906 on July 5. This strategic maneuver translated into a remarkable profit of $3.7 million from these Ether trades alone.
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.
— Lookonchain (@lookonchain) August 28, 2023
Presently, the wallet holds an impressive portfolio of digital assets, amounting to approximately $80 million. This diverse portfolio reflects the fund’s prudent approach to investing and its ability to adapt to market conditions.
In a different yet related context, the crypto market witnessed a notable event where a significant crypto whale preemptively sold $41 million worth of ETH shortly before a market downturn, skillfully evading a potential loss of $5 million.
Meanwhile, shedding light on the broader investment landscape, Fenix International, the parent company of the subscription platform OnlyFans, displayed its involvement in the crypto sphere by investing a substantial $20 million in Ethereum during the period spanning 2021-2022.
In the evolving landscape of crypto investments, the 1inch Investment Fund’s wallet stands as a testament to the potential for strategic maneuvering to reap profits within the intricate cryptocurrency market. As investors continue to navigate the challenges and opportunities presented by the digital asset sphere, calculated decisions and a keen understanding of market trends remain paramount.