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.
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.
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.