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<p class="is-style-lead">1inch Investment Fund has purchased 6,088 <a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a> for $10 million, taking advantage of the Ethereum price dip.</p> 
<h2 class="wp-block-heading" id="1inch-stacks-up-more-eth">1inch stacks up more ETH</h2> 
<p>In a move that’s caught the crypto community’s attention, the 1inch Investment Fund recently acquired 6,088 Ethereum (ETH) for a whopping $10 million, according to blockchain analytics platform Lookonchain.&nbsp;</p> 
<p>&nbsp;The purchase was made at a price of $1,655 per Ether, bolstering the fund’s holdings and revealing their confidence in the token’s future price move despite the ongoing crypto winter.</p> 
<p>The researchers also revealed that the investment fund purchased 17,000 ETH in three separate transactions between January and March.</p> 
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   <p lang="en" dir="ltr">1inch Investment Fund wallet spent $10M to buy 6,088 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> at $1,655 6 hrs ago.<br><br>The wallet bought a total of 17K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($26.8M) at an average price of $1,569 on Jan 13, Feb 9 and Mar 14.<br><br>Then sold 11K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($21M) at $1,906 on July 5, making ~$3.7M.<a href="https://t.co/QhEm3M9Mm7" target="_blank" rel="noopener noreferrer nofollow">https://t.co/QhEm3M9Mm7</a> <a href="https://t.co/JUxzA8hFom" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/JUxzA8hFom</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1696054926831685999?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 28, 2023</a> 
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<p>The fund also reportedly sold 11,000 ETH worth $21 million on July 5, when Ethereum was trading at $1,906, making a profit of approximately $3.7 million.</p> 
<p>In related news, the 1inch decentralized exchange (DEX) aggregator was recently <a href="https://crypto.news/1inch-dex-aggregator-deploys-on-ethereums-layer-2-base/%C2%A0" rel="noopener noreferrer nofollow">implemented</a> on Coinbase’s Ethereum layer-2 platform, <a href="https://crypto.news/what-is-base-unpacking-coinbases-new-layer-2-network-and-its-impact/" rel="noopener noreferrer nofollow">Base</a>. This integration introduces a new feature that allows Base users to place limit orders, giving them greater influence over their trades.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/1inch-network-unveils-new-hardware-wallet/" rel="noopener noreferrer nofollow"> 1inch Network unveils new hardware wallet </a> </p> 
<h2 class="wp-block-heading" id="ethereum-price-analysis">Ethereum price analysis&nbsp;</h2> 
<p>At the time of writing, the price of <a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a> stands at $1,650, marking a&nbsp; decrease of over -1.2% in the past week, according to CoinGecko.</p> 
<p>While Ethereum consolidated on Aug. 28, with prices staying relatively stable around last week’s low of below $1,600, the recent rebound above the $1,650 support zone has garnered attention.</p> 
<p>Ethereum’s Relative Strength Index (RSI) on a weekly timeframe is at 26, indicating a potential bullish momentum on the horizon. The token is aiming to reclaim the key $1,700 level, which could set the stage for a fresh rally.</p> 
<p> Read more: <a href="https://crypto.news/onlyfans-invested-20m-in-ethereum-in-2022/" rel="noopener noreferrer nofollow"> OnlyFans invested $20m in Ethereum in 2022 </a> </p>

1inch Investment Fund buys $10m worth of Ethereum

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