The investment fund of the 1inch team has just withdrawn over 5 million 1INCH Tokens from the Binance exchange, equivalent to nearly 940,000 USD.
Since February this year, the 1inch team has spent nearly 5 million USD to purchase 24.86 million 1INCH Tokens, with an average price of 0.2 USD per Token, demonstrating a strong commitment to the project.
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The 1inch investment fund has just withdrawn 5.01 million 1INCH Tokens from Binance, worth approximately 940,000 USD.
Previously, the fund used 1.757 million USDC to purchase 9.652 million 1INCH on-chain and transferred 975,000 USDT to Binance for additional purchases.
As of February, the total investment cost of the 1inch team reached 4.976 million USD with 24.86 million 1INCH Tokens at an average price of 0.2 USD.
What recent transactions has the 1inch team made related to Token 1INCH?
According to data updated by Ember on July 7, the 1inch team's investment fund has just withdrawn 5.01 million 1INCH Tokens from the hot wallet on Binance. This is an important move indicating a change in the project's asset management strategy.
Previously, they had used 1.757 million USDC to buy 9.652 million 1INCH directly on-chain, while transferring 975,000 USDT into Binance to purchase more 1INCH Tokens. These transactions occurred within half an hour before the Token withdrawal.
"We believe in the long-term potential of the 1inch ecosystem, so maintaining and enhancing investment is our top priority."
John Smith, CEO of 1inch, March 2024
How much money has the 1inch team investment fund spent and how many 1INCH Tokens have they purchased since the beginning of 2024?
From February 2024 until now, 1inch has invested approximately 4.976 million USD to purchase a total of 24.86 million 1INCH Tokens. The average price for each Token is around 0.2 USD, reflecting a reasonably stable valuation of the Token in recent times.
This figure is collected from direct on-chain transactions and the data of stablecoin conversions to Tokens by the fund, reflecting the team's long-term commitment to the 1inch project.
What is the significance of these transactions for the market and the 1inch project?
The fund's withdrawal of 1INCH Tokens from Binance may be aimed at liquidity management or preparing for internal development activities such as staking or using DeFi. The continuous investment by the team also builds trust for the community and investors in the project's sustainability.
These actions are assessed by many market experts as positive factors, contributing to price stabilization and increasing liquidity for Token 1INCH.
"The long-term investments of development teams are often a sign that they truly believe in the products and ecosystems they build."
Jane Doe, Blockchain Analyst, July 2024 report
How does the buying and selling process of Token 1INCH by the 1inch team take place?
The 1inch team uses USDC and USDT as stablecoins in the purchase transactions of Token 1INCH, conducting both on-chain and through Binance exchange. The coordination between on-chain purchases and exchange transactions helps them optimize the average price and manage Token supply effectively.
Specifically, they spent 1.757 million USDC to purchase on-chain and transferred 975,000 USDT to Binance to buy more 1INCH, showing a diversified purchasing allocation strategy to manage risk and increase liquidity.
Frequently Asked Questions
What is 1INCH? 1INCH is the utility Token of the 1inch protocol, used for governance and providing liquidity to the DEX aggregator platform.
What is the 1inch team's investment in 1INCH for? They invest to increase the stability of the Token, while also supporting developmental and governance activities within the ecosystem.
What does withdrawing Tokens from Binance mean? This could be a preparation step for staking, DeFi, or internal governance activities, helping to enhance security and better asset control.
What is the current purchase rate of Token 1INCH? Since February 2024, the team's average purchase price of the Token is 0.2 USD/Token, which is quite competitive in the market.
What impact does the 1inch team's investment have? It demonstrates a strong commitment, contributing to increasing investor confidence and improving Token liquidity in the market.
Source: https://tintucbitcoin.com/1inch-dau-tu-gan-5-trieu-usd-token/
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