BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Ethereum

1inch Investment Fund Acquires $10M in Ethereum Amid Price Dip

by Dan K
Aug 29, 2023 - 5:00 pm
in Ethereum
Graphical representation comparing Ethereum and Polygon in terms of financial losses due to crypto scams and hacks in 2023.

The crypto universe buzzed as 1inch Investment Fund made headlines by securing 6,088 Ethereum (ETH) for an impressive $10 million. This acquisition, as reported by blockchain analytics entity Lookonchain, was accomplished at an Ethereum price point of $1,655 each.

This strategic addition to their asset cache signifies the fund’s bullish outlook for Ethereum, notwithstanding the persisting crypto winter.

Previous Ethereum Transactions

Analysis has disclosed that between January and March, the investment fund took positions by buying 17,000 ETH over three transactions.

However, the fund lightened its Ethereum hoard by selling 11,000 ETH at $1,906 each on July 5. This deal culminated in a neat profit of about $3.7 million.

1inch DEX Aggregator’s New Chapter

Parallelly, in the decentralized exchange realm, 1inch’s DEX aggregator has been onboarded onto Coinbase’s Ethereum layer-2 platform, Base. An exciting offshoot of this partnership is a feature empowering Base’s users to assertively set limit orders, optimizing their trade strategies.

Ethereum Price Analysis

Currently, as per CoinGecko, Ethereum’s price marker is $1,650, seeing a downtrend of about -1.2% in the recent week.

Though Ethereum’s pricing maintained a semblance of stability around the sub-$1,600 territory on August 28, its resurgence past the $1,650 threshold is noteworthy.

With Ethereum’s Relative Strength Index (RSI) plotting at 26 on the weekly chart, the indicators suggest a potential uptrend in sight. All eyes are now on Ethereum as it aims to breach the crucial $1,700 mark, potentially flagging off a new rally.

Conclusion

The movements and decisions of major players in the crypto space, like the 1inch Investment Fund, often give insight into broader market sentiments and potential future trends. Their substantial investment in Ethereum, even amid price fluctuations, serves as a testament to the enduring belief in the long-term potential and resilience of Ethereum. As the crypto market continues its dynamic shifts, investors will be closely watching entities like 1inch for cues, while also keeping an eagle eye on Ethereum’s performance metrics.

The integration of 1inch’s DEX aggregator with Coinbase’s platform further underscores the evolving landscape and the intertwined future of cryptocurrencies and decentralized platforms. Whether you’re a seasoned crypto enthusiast or a curious observer, these developments herald exciting times in the world of digital currencies.

Tags: BlockchainDEXEthereum
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Vitalik Buterin proposes gas cap to improve Ethereum security and stability

Vitalik Buterin Proposes Gas Cap to Strengthen Ethereum Security and Stability

July 6, 2025

Vitalik Buterin proposes capping Ethereum transaction gas at 16.77M to reduce DoS risks, enhance stability, and support zkVM...

Ethereum co-founder Vitalik Buterin speaking about pluralistic digital identity systems

Vitalik Buterin Proposes ‘Pluralistic’ Digital IDs to Defend Privacy and Fair Access

June 28, 2025

Vitalik Buterin warns that rigid digital IDs can erode pseudonymity. He proposes pluralistic systems to protect privacy, fairness,...

Ethereum co-founder Vitalik Buterin speaking about pluralistic digital identity systems

Ethereum Whales Bet Over $100M on Price Rebound Amid US-Iran Conflict

June 23, 2025

Ethereum whales bet $100M on price rebound amid US-Iran conflict, defying bearish sentiment and rising geopolitical risks in...

SharpLink Gaming logo with Ethereum symbol representing $1B crypto investment plan

SharpLink Gaming to Buy $1B in Ether, Embracing Ethereum Treasury Strategy

May 31, 2025

SharpLink Gaming eyes $1B ETH purchase after share offering, adopting Ethereum strategy that earned it the title “Ethereum’s...

Press Releases

png 115

BTC Miner: Earn $100-$100,000 Daily – The Fastest Growing Crypto Mining Platform of 2025!

June 25, 2025

BTC Miner, the fastest growing platform in 2025, opens a new era of inclusive cryptocurrency mining, allowing everyone to participate...

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise