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Crypto Hedge Fund Bought ETH Dip Worth Over $456 Million -Breaking

by Mike Robinson

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Crypto Hedge Fund Buys ETH Dip Worth More Than $456 Million

Investors are eager to purchase top cryptocurrency coins because the prices remain low.

The price of Ethereum dropped to $3.675 on December 13th. Three Arrows Capital, a Singaporian cryptocurrency-hedge fund, bought over $56 Million worth of Ethereum.

A week before the aforementioned purchase, Three Arrows Capital invested more than $400 million or 91,477 ETH, while Ethereum’s price was still below $4,000. The amount was seen transferred from Binance, Coinbase (NASDAQ:), and FTX to the hedge fund’s wallet.

“I’ll still bid it hard on any panic dump like this weekend,”
Zhu Su was the CEO at Three Arrows capital and commented on the Three Arrows capital’s investment as a result of a Twitter post (NYSE:), by Wu Blockchain. This was followed by another statement that 100,000 ETH is “dust.”

Flipside

  • Zhu Su abandoned Ethereum less than a month back because of the high gas prices.

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