This crypto fund just bought $10m in Chainlink during last night's flash dip

Published on by Cryptoslate | Published on

Mentioned in this article
I was watching Three Arrows Capital's primary address last night and noticed that on the dip, the crypto fund accumulated a large amount of LINK. Three Arrows Capital accumulates a mass amount of LINK. Three Arrows Capital is by far one of the biggest funds in the space: they hold hundreds of millions worth of Grayscale Bitcoin Trust shares, hold a large chunk of the likely multi-billion-dollar-exchange Deribit, and have countless other investments in the space.

LINK fell from $14.00 to $12.50 in that frame of time, but bounced quickly back toward pre-crash levels.

Bidding the dip, seemingly, was Three Arrows Capital.

Minutes after the dip took place, the firm received 351,147 LINK from an address that received a Binance withdrawal.

Around fifty minutes later, another 400,000 LINK was received for a total of 751,147 LINK, valued around $10,100,000.

Su Zhu, CIO and CEO of Three Arrows Capital, liked the tweet I shared to my feed about the transactions.

Three Arrows Capital is far from the only fund that is accumulating a large amount of Ethereum-based coins.

Jump Trading, a massive proprietary trading firm based in Chicago has over $18.5 million worth of Ethereum, along with millions in Serum, Compound, Keep Network, and HXRO. The firm also has assorted investments in Numeraire, Orchid, Maker, and Huobi Token.

Finance Nick Chong 2 years ago 2 min read. The crypto fund that has been shorting Chainlink since $5 has returned Nick Chong 2 years ago 2 min read. Why major Bitcoin futures exchange Bybit is integrating Chainlink price feed Joseph Young 2 years ago 2 min read. Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate.

None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article.

x