Pantera Capital Doubles Down on 1INCH Investment
Cryptocurrency investment firm Pantera Capital has further increased its exposure to 1INCH. The firm recently deposited an additional 14.595 million 1INCH tokens (valued at approximately $3.77 million) into Coinbase Prime through two separate wallet addresses:
0x8dAd53cbd205Fc71982739905fDcb565b0EbdBA3
0xce451daf732bd439757c7202372812f77cff9a79
This latest investment follows a pattern of consistent accumulation for Pantera Capital. Since July 24, 2024, the firm has already deposited a total of 49.5 million 1INCH tokens into Coinbase Prime at an average price of $0.315 per token.
It's worth noting that Pantera Capital initially acquired a significant 1INCH position through a vesting contract. Between December 2, 2021, and July 22, 2023, the firm received a total of 104.6 million 1INCH tokens at an average price of $1.286 per token.
Despite these substantial deposits, Pantera Capital still maintains a sizable 1INCH holding of 55.1 million tokens, valued at approximately $14.2 million, across the two aforementioned wallet addresses.
Pantera Capital's continued investment in 1INCH highlights the firm's bullish stance on the decentralized exchange aggregator. This move could potentially influence the price of 1INCH and attract further attention to the project.
