A blockchain tracker finds that the investment fund associated with the decentralized exchange (DEX) aggregator 1inch (1INCH) abruptly accumulated $10 million worth of Ethereum (ETH) over the weekend.
Blockchain tracker Lookonchain notes that the 1inch investment fund wallet also bought a total of 17,000 ETH worth $26.8 million at an average price of $1,569 across January, February and March of this year.
On July 5th, it sold 11,000 Ethereum worth roughly $21 million at a price of $1,906, making a profit of $3.7 million on the sold ETH.
Ethereum is trading at $1,727 at time of writing. The second-ranked crypto asset by market cap is up nearly 5% in the past 24 hours.
The address has already made a huge profit on the frog-themed memecoin this year: In April, the wallet spent only 0.125 ETH worth $251 to buy 5.9 trillion PEPE. The trader has since sold a total of 3.95 trillion PEPE for a total of 2,505 ETH worth $4.7 million. The address still holds 2 trillion PEPE worth approximately $1.8 million.
PEPE is trading at $0.000000889795 at time of writing. The 99th-ranked crypto asset by market cap is up more than 3.5% in the past 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post 1inch Investment Fund Abruptly Accumulates $10,000,000 in Ethereum Amid Market Downturn: On-Chain Data appeared first on The Daily Hodl.