Ah, the crypto market, that grand theater of human folly, where fortunes are made and lost in the blink of an eye! The recent crash, a veritable cataclysm, has left many a trader in a state of existential despair, yet amidst this chaos, a few stalwart souls cling to optimism as if it were a life raft in a stormy sea.
With funds poised to snatch up blue-chip tokens like Bitcoin
BTC
$94,919
24h volatility:
3.6%
Market cap:
$1.88 T
Vol. 24h:
$107.23 B
and Ethereum
ETH
$2,590
24h volatility:
15.5%
Market cap:
$310.85 B
Vol. 24h:
$90.79 B
at prices that would make a bargain hunter weep with joy, one must ponder: should you, too, dive into this turbulent sea of volatility and purchase Bitcoin and Ethereum at such enticing discounts? Or is it merely a mirage, a cruel jest played by the universe? 🤔
1inch’s Investment Fund: The Bold and the Beautiful
In the midst of this market tempest, the 1inch investment fund has boldly acquired Ethereum and Wrapped Bitcoin, as if they were the last lifeboats on the Titanic. 1inch, that distributed network of dreams, operates across the grand landscapes of Ethereum, BNB Smart Chain, Avalanche, Phantom, Klaytn, and more, like a modern-day Odysseus navigating treacherous waters.
This fund, with its eye on NFTs and a penchant for automated market makers, cross-chain tokens, and decentralized autonomous organizations, has recently bestowed its financial blessings upon EYWA in May 2024. A mere trifle, one might say, in the grand scheme of things.
Currently, the fund has procured 7,289 ETH tokens, a staggering $10.44 million investment, alongside Wrapped Bitcoin worth $5 million. One can only imagine the glee of the fund managers as they tally their spoils.
With 52.07 WBTC
WBTC
$95,078
24h volatility:
3.4%
Market cap:
$12.25 B
Vol. 24h:
$1.27 B
in their possession, the fund has spent a total of $25.44 million in the past 24 hours. The average buying price for Ethereum, a staggering $2,804, while Wrapped Bitcoin was acquired at an average price of $96,021. One can only wonder if they consulted a crystal ball before making such audacious purchases.
Historically, the 1inch team has proven to be astute traders, raking in millions through their dealings with Ethereum, Uniswap, and their own token, 1inch. A veritable success story, or perhaps just a series of fortunate coincidences? 🤷♂️
Bitcoin and Ethereum Price Analysis: The Crystal Ball Gazing
As 1inch makes its bold moves, analysts are left to ponder the fate of Bitcoin and Ethereum, two titans wrestling with their own demons. In a recent tweet, the ever-astute Martinez Ali, a crypto analyst, warns of Bitcoin’s precarious position, teetering on the edge of a potential downfall.
Despite the recent price correction, #Bitcoin $BTC traders still hold a 3.36% profit margin.
Since 2022, local bottoms have typically formed when the profit margin drops below -12%, suggesting there could be more room for downside before a true bottom is in.
— Ali (@ali_charts) February 3, 2025
With the profit margin clinging to a meager 3.36%, the analyst foresees a potential plunge
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2025-02-03 16:14