• Pantera Capital deposits $3.52M in 1INCH tokens to Coinbase amid price decline since July 24.  

  • Pantera holds $223.647M in crypto, with ONDO making up 15.89% of its portfolio.  

  • Pantera’s 1INCH deposits total 34.91M tokens, valued at $11.8M, during a market downtrend.  

Pantera Capital has recently executed significant transactions involving the cryptocurrency 1INCH. According to data from the blockchain analytics platform, Spot On Chain, Pantera Capital deposited a total of 12.95 million 1INCH tokens, valued at approximately $3.52 million, into Coinbase Prime just seven hours ago. This latest transaction is part of a broader strategy that saw the firm begin transferring 1INCH tokens to Coinbase starting July 24, as the token’s price showed signs of decline.

Pantera Capital deposited 12.95M #1INCH ($3.52M) to #CoinbasePrime 7 hours ago.Notably, Pantera Capital was an investor of @1inch, having vested 104.6M #1INCH from 2021 to 2023.On July 24, the VC started to deposit #1INCH to Coinbase as the price started to drop. So far, it… pic.twitter.com/hFUkTO8f4J

— Spot On Chain (@spotonchain) August 10, 2024

From 2021 to 2023, Pantera Capital was an active investor in 1INCH, vesting a substantial 104.6 million tokens. The recent data indicates that since July 24, Pantera has deposited a cumulative total of 34.91 million 1INCH tokens, worth around $11.8 million, to the centralized exchange (CEX) at an average price of approximately $0.338 each.

This series of deposits coincides with a noticeable downtrend in the token’s market price, which dipped from about $0.40 to just below $0.35, though with a minor recovery toward the end of the observed period.

A preview of Pantera Capital’s current cryptocurrency holdings displays a diversified asset distribution totaling $223.647 million. The largest share of the portfolio is held in ONDO tokens, which represent 15.89% of the total balance, equivalent to about $35.513 million.

Source: Spot On Chain

Pantera’s approach highlights a significant reliance on ONDO, likely due to its promising return potential or strategic fit with the firm’s broader investment philosophy.

Besides ONDO, which is currently trading at $0.7615 with a price decline of  -0.22% in the last 24 hours and -4.05% in the past 7 days, Pantera holds drastic investments in other crypto assets, including 1INCH, with 69.694 million tokens valued at $19.036 million, and ARB tokens, numbering 29.769 million and valued at $16.887 million.

The post Pantera Capital Dumps 1INCH on Coinbase, Boosts ONDO Holdings appeared first on Coin Edition.