The Singapore-based hedge fund supervisor, Three Arrows Capital bought the dip again, almost 31,345 Ethereum (ETH) for around $101 million on Thursday and thus, helped the cost of the token to rise by 3%.
The purchase was brought to notice when well-known Crypto reporter, Colin Wu tweeted about it. As per the tweet, Blockchain analytics system Nansen marked BlockFi address transferred 31,345 ETH to the Three Arrows Capital on April 7. The transaction was worth more than $100 million.
Three Arrows Capital once again bought ‘the dip’ when the second-largest crypto, Ethereum, was trading near $3170.
Thus, raising the Ethereum profile in the purse to concerning 31,346, which the firm might include in an Ethereum laying swimming pool later on.
Three Arrows Capital gave more than $100 million USDC to get Ether (ETH) from the exact same purse address.
Three Arrows Capital has actually revealed intentions of being a validator as it remains to risk Ethereum right into Lido and also Curve laying swimming pools. Recently in March, the firm laid almost 52,420 ETH right into Curve’s ETH/stETH liquidity swimming pool.
However, what is striking in this development is that with Three Arrows Capital buying ETH at the dip, Ethereum (ETH) prices saw a boost of almost 3%.
Data revealed that the price of Ethereum was down almost 2% in the previous day, and also down almost 6% in the last 7 days.
In December, a similar chain of events transpired when Three Arrows Capital bought the dip when it purchased Ethereum worth $400m. This was ironically just a week after CEO Su Zhu had dismissed Ethereum over its high gas fees.
