Three Arrows Capital, a hedge fund manager based in Singapore, on Thursday has added nearly 31,345 Ethereum (ETH) for about $101 million. Blockchain analytics platform Nansen marked that a BlockFi address transferred Ether to the Three Arrows Capital wallet address at 2:42 AM UTC. The hedge fund manager has again taken the “buy the dip” opportunity to add more Ethereum when the second-largest crypto was trading near $3170.
Three Arrows Capital Buys 31,345 ETH Worth $101 Million
According to Etherscan data, a successful transfer of 31,345 ETH worth $101,759,034 to the wallet address of Three Arrows Capital was completed at 2:42 AM UTC on April 7. Thus, increasing the Ethereum portfolio in the wallet to about 31,346, which the company may add to an Ethereum staking pool later.
Crypto reporter Colin Wu announces in a tweet regarding the transfer of nearly 31,345 ETH from a BlockFi address to the wallet address of Three Arrows Capital. The tweet reads:
“Nansen marked the BlockFi address transferred 31,345 ETH to the Three Arrows Capital address (0x82ac5170a837f6554d518c71c0590723437e6b64) at 10:42:56 on April 7, worth more than $100 million. “
Three Arrows Capital sold more than $100 million USDC to buy Ether from the same wallet address.
Trending Stories
Three Arrows Capital has shown interest in becoming a validator as it continues to stake Ethereum into Lido and Curve staking pools. Recently in March-end, the hedge fund manager staked nearly 52,420 ETH into Curve’s ETH/stETH liquidity pool.
Ethereum Price Rises 3% After the Purchase
The Ethereum (ETH) price increased nearly 3% after Three Arrows Capital purchased ETH at the dip. Moreover, the last time too, the hedge fund manager took the buy the dip opportunity when it acquired Ethereum below $3000.
According to Coinmarketcap, the price of Ethereum is down nearly 2% in the last 24 hours, and down nearly 6% in the last seven days. However, the ETH price has built strong momentum since mid-March and might continue to move upwards from the dip.
As the date of Ethereum’s shift to proof-of-stake moves closer, Three Arrows Capital has increased its Ethereum purchasing as well Ethereum (ETH) staking.
- Why Billionaire Ray Dalio Is Still Betting Big On Bitcoin (BTC)?
- CZ Fuels Rumors Of Binance’s Trading Service Launch In Dubai
- Just-In: European Central Bank Says Crypto Unsuitable As Store Of Value
- Shiba Inu The Most-Held Token By ETH Whales, Is Metaverse Hype Back?
- South Korean Terra Holders Skyrocketed After Its Crash, Here’s Why
- Verse Metaverse – LA Villa Hand Over On May 30
- Bitcoin (BTC) Faces A Crash To 2020 Lows, Here’s Why
- On-Chain Data: Bitcoin (BTC) Always Pegs Higher Trust Over Ether (ETH) in Bear Market
- Is Terra’s Singapore Office A “Paper Company?”
- Bitcoin (BTC) Options Market Hints Major Downside Risks Over Next 3-6 Months
- TRON Price Analysis: High Volume Breakout may Lead TRX to $0.9 Mark
- Tezos Price Analysis: Dynamic Trendline May Carry XTZ Price to $2.4
- AAVE Price Analysis: AAVE Chart Hints Coin Holders May Lose $100 Mark
- What Next For The Fast Recovering FTM Price?
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
