1inch Investment Fund Acquires $15.44 Million in Ethereum and Wrapped Bitcoin
The recent crypto market crash has led to significant liquidations, yet optimism remains among key investors. Notably, 1inch’s investment fund has purchased Ethereum and Wrapped Bitcoin at discounted prices.
Key Points
- 1inch acquired 7,289 ETH valued at $10.44 million and Wrapped Bitcoin worth $5 million.
- Total expenditure by the fund over 24 hours reached $25.44 million.
- Average purchase price for Ethereum was $2,804; Wrapped Bitcoin was bought at $96,021.
- Bitcoin traders currently hold a 3.36% profit margin, indicating potential further downside before bottoming out.
- Ethereum must maintain above $2,700 to preserve a bullish structure, with a target of $7,000 if it breaks local resistance.
Smart investments amidst volatility suggest a buying opportunity for those considering entering the market.