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Pantera Capital Dumps 1INCH on Coinbase, Boosts ONDO Holdings

Pantera Capital Dumps 1INCH on Coinbase, Boosts ONDO Holdings

Coinedition2024/08/09 16:00
By: Coin Edition
ARB-0.76%1INCH+0.44%ONDO-1.38%
  • Pantera Capital deposits $3.52M in 1INCH tokens to Coinbase amid price decline since July 24.  
  • Pantera holds $223.647M in crypto, with ONDO making up 15.89% of its portfolio.  
  • Pantera’s 1INCH deposits total 34.91M tokens, valued at $11.8M, during a market downtrend.  

Pantera Capital has recently executed significant transactions involving the cryptocurrency 1INCH. According to data from the blockchain analytics platform, Spot On Chain, Pantera Capital deposited a total of 12.95 million 1INCH tokens, valued at approximately $3.52 million, into Coinbase Prime just seven hours ago. This latest transaction is part of a broader strategy that saw the firm begin transferring 1INCH tokens to Coinbase starting July 24, as the token’s price showed signs of decline.

From 2021 to 2023, Pantera Capital was an active investor in 1INCH, vesting a substantial 104.6 million tokens. The recent data indicates that since July 24, Pantera has deposited a cumulative total of 34.91 million 1INCH tokens, worth around $11.8 million, to the centralized exchange (CEX) at an average price of approximately $0.338 each.

This series of deposits coincides with a noticeable downtrend in the token’s market price, which dipped from about $0.40 to just below $0.35, though with a minor recovery toward the end of the observed period.

A preview of Pantera Capital’s current cryptocurrency holdings displays a diversified asset distribution totaling $223.647 million. The largest share of the portfolio is held in ONDO tokens , which represent 15.89% of the total balance, equivalent to about $35.513 million.

Pantera Capital Dumps 1INCH on Coinbase, Boosts ONDO Holdings image 0 Pantera Capital Dumps 1INCH on Coinbase, Boosts ONDO Holdings image 1

Source: Spot On Chain

Pantera’s approach highlights a significant reliance on ONDO, likely due to its promising return potential or strategic fit with the firm’s broader investment philosophy.

Besides ONDO, which is currently trading at $0.7615 with a price decline of  -0.22% in the last 24 hours and -4.05% in the past 7 days, Pantera holds drastic investments in other crypto assets, including 1INCH, with 69.694 million tokens valued at $19.036 million, and ARB tokens, numbering 29.769 million and valued at $16.887 million.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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