In the dynamic world of cryptocurrency trading, tracking the moves of major funds can offer valuable insights. Recently, the crypto community’s attention turned to the 1inch fund as it completed a notable trading cycle involving Wrapped Bitcoin (WBTC).
What Was the Latest 1inch Fund WBTC Sale?
According to insights from on-chain analyst @EmberCN, the 1inch fund has liquidated its remaining holdings of Wrapped Bitcoin (WBTC). The fund sold its final 55.38 WBTC stash for a total of $5.5 million. This transaction occurred at a price point of approximately $99,283 per WBTC.
This sale marks the conclusion of a specific trading strategy employed by the fund over recent months.
How Profitable Was This Bitcoin Trading Activity?
The recent sale wasn’t an isolated event but the final step in a series of trades. The 1inch fund had initially acquired a total of 160.8 WBTC between February 2nd and March 10th. These purchases were made at an average entry price of $88,395 per WBTC.
The fund then proceeded to sell these WBTC holdings in batches, including the final 55.38 WBTC discussed above. The average selling price across all disposals stood at $94,219 per WBTC.
Let’s break down the overall profitability:
- Total WBTC Bought: 160.8
- Average Buy Price: $88,395
- Average Sell Price: $94,219
- Price Difference Per WBTC: $94,219 – $88,395 = $5,824
- Total Realized Crypto Profit: 160.8 WBTC * $5,824/WBTC ≈ $936,000
This demonstrates a successful trading outcome for the fund, netting a significant profit approaching one million dollars from their Bitcoin trading strategy using WBTC.
Why Does On-Chain Data Matter for Tracking Fund Moves?
The ability to track these specific transactions and determine profitability is a direct benefit of analyzing on-chain data. Public blockchains record every transaction, allowing analysts like @EmberCN to follow the flow of assets from known wallets, such as those associated with project teams or funds.
This transparency provides insights into market movements, fund strategies, and overall sentiment that would be impossible in traditional finance without regulatory disclosures.
Conclusion: A Successful WBTC Trading Cycle
The 1inch fund‘s recent sale of its remaining WBTC holdings for $5.5 million, culminating in a total realized crypto profit of approximately $936,000 from its Bitcoin trading activities, highlights the potential for successful asset management in the crypto space. The availability of on-chain data makes these movements transparent, offering the community a glimpse into the strategies employed by major players.
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