- The 1inch team sold 5.217 million 1INCH tokens, gaining 2.815 million USDC in a third consecutive day of sales.
- Over three days, the 1inch team exchanged 15.698 million 1INCH tokens for 8.38 million USDC, sparking market attention.
The 1inch team has been selling a large number of 1INCH tokens in the last three days. In the latest transaction, they exchanged 5.217 million 1INCH tokens for 2.815 million USDC. Sold 15.698 million 1INCH tokens overall from December 5, the team has accumulated 8.38 million USDC. With an average selling price of $0.533 per token.
1inch 团队投资基金连续第三天出售 1INCH：他们在过去一天里又陆续卖出了 521.7 万枚 1INCH 换成 281.5 万 USDC。
1inch 团队从 5 号开始出售 1INCH 至今，一共卖出了 1569.8 万枚 1INCH 换成 838 万 USDC，出售均价 $0.533。 https://t.co/9jXTimre3j
本文由 #Bitget｜@Bitget_zh 赞助 https://t.co/eKh50LAlQn pic.twitter.com/FcxefAWd3l
— 余烬 (@EmberCN) December 7, 2024
1INCH Token Sales and Their Market Implications
This activity occurs during a period when investors and traders are attentively observing changes in token dynamics. Selling 1INCH tokens by the team raises more general questions regarding the consequences of such actions.
The release of 227.2 million tokens, over 15% of the total 1.5 billion token supply, in December last year injected more market liquidity. Such token unlocking has a major impact on market behavior, therefore influencing investor mood as well as price stability.
The most recent transactions are in line with their previous sales from earlier this year. According to reports, they sold 1.76 million 1INCH tokens for $0.46 each in January, raising 814,000 USDT. Fascinatingly, the sales money went into buying 80.39 wrapped Bitcoin (WBTC), a calculated attempt to diversify assets.
Although these transactions seem deliberate, they always beg issues regarding the long-term fate of the token and the finance plans of the enterprise.
These changes are under close examination for their possible ability to upset market balance. Currently hovering about $0.52676 with minor swings, the token’s price has experienced highs of $0.566639 and lows of $0.519562 in recent trading sessions.
Investors and traders both have to assess the chances and risks as liquidity rises and market conditions change to accommodate these sales.
Meanwhile, CNF reported last year that 1inch deployed limit order systems and aggregation using Base, a blockchain run under Coinbase.
As of this writing, 1INCH is swapped hands at about $0.5295, corrected 3.22% over the last 24 hours. This update looked like it brought panic and triggered a sell-off.
Credit: Source link
