A blockchain tracker finds that the investment fund associated with the decentralized exchange (DEX) aggregator 1inch (1INCH) abruptly accumulated $10 million worth of Ethereum (ETH) over the weekend.
Blockchain tracker Lookonchain notes that the 1inch investment fund wallet also bought a total of 17,000 ETH worth $26.8 million at an average price of $1,569 across January, February and March of this year.
[adinserter block="1"]On July 5th, it sold 11,000 Ethereum worth roughly $21 million at a price of $1,906, making a profit of $3.7 million on the sold ETH.
Ethereum is trading at $1,727 at time of writing. The second-ranked crypto asset by market cap is up nearly 5% in the past 24 hours.
In terms of other whale movements, Lookonchain also notes that a wallet known as dimethyltryptamine.eth spent 27 ETH worth $45,000 to buy 50 billion Pepe (PEPE) on Sunday.
The address has already made a huge profit on the frog-themed memecoin this year: In April, the wallet spent only 0.125 ETH worth $251 to buy 5.9 trillion PEPE. The trader has since sold a total of 3.95 trillion PEPE for a total of 2,505 ETH worth $4.7 million. The address still holds 2 trillion PEPE worth approximately $1.8 million.
PEPE is trading at $0.000000889795 at time of writing. The 99th-ranked crypto asset by market cap is up more than 3.5% in the past 24 hours.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
