1inch Investment Fund Makes Major New Investment in an Altcoin According to Onchain Data

1inch Mutual Fund, a team-led fund that invests in various cryptocurrencies, has increased its Ethereum (ETH) holdings.

According to the data, the fund exchanged 10 million USDT and 74,198 USDC (total: $10,075 million) for 6,088 ETH at an average price of $1,655.

This isn’t the first time the fund has bought ETH when the price is low. Between January 13 and March 14, 2023, the fund exchanged 26.75 million USDC and USDT for 17,075 ETH at an average price of $1,567.

On July 5, the fund sold 11,000 ETH at an average price of $1,906 ($20.97 million) for 20.78 million DAI and 191,000 USDT, making a profit of $3.73 million (+21.6%).

The fund currently holds 9,453 ETH ($15.5 million) in its wallet. In addition, at the time of this writing, the fund has 31.77 million USDT and $1.8 million UNI tokens in its wallet. 1inch Mutual Fund is known as a cryptocurrency wallet belonging to the 1inch platform.

*Not investment advice.