A cryptocurrency portfolio of the 1inch Investment Fund recently purchased 6,088 ETH at $1,655, spending over $10 million on the transaction and currently holding around $80 million in various digital assets.
The transaction was flagged by the blockchain analysis platform Lookonchain, which tracks and publishes profitable intelligent trades. According to the company, the 1inch-affiliated wallet purchased 6,088 ETH at $1,655, spending over $10 million on the transaction.
This transaction occurred after the company cashed out and profited from its prior ETH investments. According to blockchain data, the wallet purchased approximately 17,000 ETH three times at an average price of $1,569 on January 13, February 9, and March 14.
The company spent roughly $26 million on the trades.
On July 5, when the price of Ether rose to $1,906, the wallet sold approximately 11,000 ETH for $21 million. This results in a wallet profit of $3.7 million from Ether transactions alone. The portfolio currently contains digital assets worth a total of $80 million.
A crypto whale unloaded $41 million worth of ETH on August 18, days before the recent market decline. Earlier this month, the trader deposited 22,341 ETH into the Binance exchange and withdrew approximately $41 million. The trader sustained losses of roughly $1.7 million but avoided a prospective loss of $5 million.
In 2022, Fenix International, the parent company of the subscription platform OnlyFans, purchased $20 million worth of ETH.
According to a filing with the United Kingdom’s corporate registry, between 2021 and 2022, the corporation spent $20 million in ETH. At the end of November 2022, however, the investment was worth approximately $8.5 million.
