Three Arrows Buys Your ETH, Addresses Swell After Hinting Bearish Stand

ETH had seen its price take a tumble along with the rest of the market in the January market crash. But while the broader market had panicked, whales had seen this as an opportunity to fill up their bags at low prices. It was basically a free-for-all as sell-offs had rocked the digital asset. Three Arrows Capital was among those who had taken advantage of the low prices. The hedge fund which is headed by Su Zhu had loaded up on ethereum, pouring tens of millions of dollars into the asset. This comes despite CEO Su Zhu’s comments about the Ethereum network, which he has disparaged in the past. It seems that while Zhu may no longer be a fan of ethereum, his firm is taking the step to leverage the opportunities presented by the network. 3AC Buys $56 Million Worth Of ETH A new report from Wu Blockchain has shown that Three Arrows Capital (3AC) had been ramping up its crypto buying activities. The firm had gone on a buying spree that came out to more than $50 million worth of ETH purchased. An address that was identified to belong to the hedge fund had been rapidly buying thousands of ETH over a couple of days. Related Reading | Cardano (ADA) Forms Local Resistance As It Readies For Another 40% Liftoff In three days, 3AC had accumulated a total of $56.67 million worth of ETH, coming out to 18,575 ETH purchased in three days. The address marked as Three Arrows Capital (0x4862733B5FdDFd35f35ea8CCf08F5045e57388B3) has accumulated...