Pantera Capital Dumps 1INCH on Coinbase, Boosts ONDO Holdings

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.

Pantera Capital deposited 12.95M #1INCH ($3.52M) to #CoinbasePrime 7 hours ago.

Notably, Pantera Capital was an investor of @1inch, having vested 104.6M #1INCH from 2021 to 2023.

On July 24, the VC started to deposit #1INCH to Coinbase as the price started to drop. So far, it… pic.twitter.com/hFUkTO8f4J

— Spot On Chain (@spotonchain) August 10, 2024

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.

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.

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