1inch Investment Fund’s Crypto Wallet Buys Ether (ETH)
The 1inch Investment Fund’s crypto wallet has recently made a purchase of 6,088 Ether (ETH) for $1,655 each, which amounts to over $10 million. This purchase came a month after the wallet cashed out on its dollar-cost averaging (DCA) buys throughout the first quarter of 2023.
According to blockchain analysis platform Lookonchain, the wallet bought around 17,000 ETH at an average price of $1,569 on three occasions – Jan. 13, Feb. 9 and March 14. This purchase cost the company a total of $26 million.
When the price of Ether rose to $1,906 on July 5, the wallet sold around 11,000 ETH for $21 million, resulting in a profit of $3.7 million from the Ether trades alone. The wallet currently holds digital assets worth a total of $80 million.
The 1inch Investment Fund’s crypto wallet is a perfect example of how to make the most out of blockchain technology and Web 3.0 coins. With the right knowledge of blockchain fundamentals for Web 3.0, it is possible to make smart and profitable trades.
On Aug. 18, a crypto whale unloaded a total of 22,341 ETH, worth $41 million, just before the recent market downturn. This move saved the trader from a potential loss of $5 million, though he still suffered a $1.7 million loss.
In a separate event, Fenix International, the parent company of subscription platform OnlyFans, invested $20 million in ETH back in 2022. However, by the end of November 2022, the blockchain technology web 3.0 investment was worth only around $8.5 million.
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