Blockchain data indications have revealed that 1inch Investment Fund, the investment arm of 1inch Network, recently acquired acquired a substantial amount of Ether (ETH) on itscrypto wallet.

The purchase, which amounts to 6,088 ETH bought at a price of $1,655 each, translates to an investment exceeding $10 million at the time of purchase. Blockchain analytics platform Lookonchain first highlighted this large transaction, drawing attention to the fund’s continued interest in the crypto market.

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.

Then sold 11K $ETH($21M) at $1,906 on July 5, making ~$3.7M.https://t.co/QhEm3M9Mm7 pic.twitter.com/JUxzA8hFom

— Lookonchain (@lookonchain) August 28, 2023

The investment comes on the heels of a profitable period for the 1inch-affiliated wallet. Earlier this year, the wallet had made sizable investments in ETH, buying around 17,000 ETH at an average price of $1,569 across three different instances—January 13, February 9, and March 14.

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Author: Vince Dioquino

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