1Inch buys $10M Ethereum after major fund withdrawal from crypto investment fund

DEX aggregator 1Inch withdrew over $40 million worth of cryptocurrencies from its investment fund and purchased $10 million worth of Ethereum during the early hours of Aug. 28 at an average price of $1650, according to Etherscan data.

A breakdown of the withdrawals showed that the DeFi platform withdrew 41.8 million worth of Tether’s USDT, 396,000 in Uniswap’s UNI token, 3,120 Ethereum (ETH), and 75,000 in USDC. Additionally, 1Inch swapped $10.075 million USDT and USDC to buy 6,088 ETH.