Three arrows capital just bought $10 million in Chainlink while the flash dip lasted last night as we find out more in today’s chainlink crypto news.
What’s interesting in the Defi space is that if you know someone’s address you can easily look up the investments they made and the interactions as well. This is what one analyst did and looked up the primary address of Three Arrows capital and noticed that the investment fund purchased a huge chunk of LINK during the dip last night. The biggest investment fund in the space now holds hundreds of millions worth of Grayscale BTC trust shares as well as a huge piece of the billion-dollar exchange Deribit with countless other investments in the crypto space. Now, they became large holders of Chainlink as well.
What's beautiful (and kind of scary) about DeFi is that we can see everything that happens on-chain and connect addresses to identities and firms.
Here's a breakdown of the known Ethereum addresses of Three Arrows Capital, Polychain Capital, and Jump Trading.
— Nick C. (@n2ckchong) November 18, 2020
Last night, Bitcoin crashed by $1000 in the span of few minutes so huge bets were made to other cryptocurrencies. LINK fell from $14 to $12.50 in the same timeframe but was able to bounce back towards the pre-crash levels. Bidding up the dip was no other than Three Arrows Capital. A few minutes after the dip happened, the company received 351,147 LINK from the address that they received a Binance withdrawal. An hour later, an additional 400,000 LINK was received for a total of 751,147 LINK which is valued at $10,100,000. As of the time of writing, the investment fund now holds about $14 million LINK in one address which is low lent to Aave with the collateral being used to borrow other stablecoins.
Three arrows Capital is now the only fund that is accumulating a huge amount of ETH-based coins. Jump Trading which is a massive trading company in Chicago now has about $18.5 million worth of ETH along with millions in Compound, Serum, Keep Network, and HXRO. The company has assorted other investments as well like in Orchid, Maker, and Huobi. Since they are market makers, it’s not clear what exactly this means for the investments that they are making. It seems that the investments in SRM, Keep Network, and some of the coins are long-term choices and not hedges. Polychain Capital was also a huge fan of YFI so now the company owns about 2% of the total coins in circulation.
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