1inch Investment Fund’s crypto wallet has made a significant purchase of Ether (ETH) after previously profiting from its trades. The wallet, affiliated with decentralized exchange aggregator 1inch, bought 6,088 ETH at a price of $1,655, totaling over $10 million. This comes after the wallet made three previous purchases of 17,000 ETH at an average price of $1,569, and subsequently sold 11,000 ETH for $21 million when the price reached $1,906 on July 5. The wallet currently holds a total of $80 million worth of digital assets.
The purchase was flagged by blockchain analysis platform Lookonchain, which tracks and posts profitable trades. The data confirms the successful trading strategy employed by the 1inch-affiliated wallet, which has generated a profit of $3.7 million from Ether trades alone. The wallet’s trading history can be viewed on the public blockchain address associated with the wallet.
What is 1inch Investment Fund?
1inch Investment Fund is a crypto fund associated with 1inch, a decentralized exchange aggregator that sources liquidity from various decentralized exchanges to provide users with better prices for their trades.
What is Ether (ETH)?
Ether (ETH) is the native cryptocurrency of the Ethereum blockchain. It is the second-largest cryptocurrency by market capitalization, and it is commonly used for various purposes, including transactions, smart contracts, and decentralized applications.
What is dollar-cost averaging (DCA)?
Dollar-cost averaging is an investment strategy in which an investor regularly invests a fixed amount of money into an asset regardless of its price. This strategy aims to reduce the impact of short-term price volatility and allows investors to acquire more of the asset when prices are low and less when prices are high.
How can I track my own crypto wallet transactions?
You can track your own crypto wallet transactions by using blockchain explorers or by accessing the public address associated with your wallet. These tools allow you to view the transaction history, balances, and other relevant information related to your wallet.
What are decentralized exchange aggregators?
Decentralized exchange aggregators are platforms that consolidate liquidity from multiple decentralized exchanges, allowing users to access a wider pool of liquidity and potentially attain better prices for their trades. These aggregators automatically route the user’s trade request to the exchange offering the most favorable terms at that moment.
The 1inch Investment Fund wallet, affiliated with decentralized exchange aggregator 1inch, has purchased $10 million worth of ETH. This comes after the wallet profited from previous ETH trades, totaling $3.7 million. The wallet’s successful trading strategy involved buying ETH at lower prices and selling at higher prices. The wallet currently holds $80 million worth of various digital assets. The purchase was flagged by blockchain analysis platform Lookonchain, which tracked the transactions.