According to Odaily, Su Zhu, the founder of Three Arrows Capital, has announced that he has repurchased Ethereum (ETH) at a price of $2900. This comes after he previously sold the cryptocurrency when its price was at $3300.
The move by Zhu indicates a strategic decision to re-enter the Ethereum market at a lower price point, potentially signaling his confidence in the future performance of the cryptocurrency. This development is noteworthy given the volatile nature of the cryptocurrency market and the significant role that influential figures like Zhu play in shaping market trends.
It is important to note that the actions of individuals such as Zhu can have a significant impact on the market, potentially influencing the decisions of other investors. As such, this recent purchase could potentially influence the future trajectory of Ethereum's price.