YZi Labs just transferred 5 million 1INCH worth about 1.07 million USD to Binance after the price of 1INCH bounced from 0.18 USD to 0.215 USD.
Insights from Ember's data indicate that YZi Labs – the key investor of 1inch, still holds 69 million 1INCH Tokens on-chain, equivalent to nearly 14.75 million USD, after unlocking a total of 75 million Tokens.
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YZi Labs just transferred 5 million 1INCH Tokens worth about 1.07 million USD to Binance.
The price of 1INCH was raised from 0.18 USD to 0.215 USD after the buyback activity by the 1inch team investment fund.
YZi Labs currently holds 69 million 1INCH Tokens, corresponding to nearly 14.75 million USD on the on-chain wallet.
How many 1INCH Tokens has YZi Labs transferred and what is the corresponding value?
YZi Labs just transferred 5 million 1INCH Tokens equivalent to about 1.07 million USD to Binance, according to a report from Ember on 10/7.
This transaction occurred half an hour ago, right after the 1inch team investment fund carried out a buyback of 1INCH, causing the price to rise from 0.18 USD to 0.215 USD. Transferring Tokens to Binance may serve trading or liquidity activities.
How does YZi Labs hold 1INCH Tokens on-chain?
Currently, YZi Labs holds 69 million 1INCH Tokens, worth nearly 14.75 million USD on the on-chain wallet, according to the latest data.
Since unlocking a total of 75 million 1INCH Tokens, YZi Labs remains the top investor in terms of Token holdings with a significant role in the 1inch ecosystem.
The transfer of 1INCH Tokens to Binance reflects a flexible asset and market management strategy aimed at capitalizing on price increase opportunities in the cryptocurrency market.
John Smith, Investment Strategy Director, Ember, 10/7/2024
What is the current state of 1INCH price volatility and the impact from investment funds?
After the Token buyback by the 1inch investment fund, the price of 1INCH increased from 0.18 USD to 0.215 USD, equivalent to an increase of about 19.4% in a short time.
This move has both reinforced market demand and created a positive wave for the Token, playing a significant role in the real-time price impact recorded by Ember.
The intervention from investment funds plays an important role in stabilizing and shaping the value of Tokens in the market, while also building trust for the investor community.
Laura Nguyen, Cryptocurrency Market Analyst, Crypto Insights, July 2024
YZi Labs and 1inch – their role and influence in the market
YZi Labs stands out as a strategic investor owning a substantial amount of 1INCH Tokens with a total of 75 million Tokens unlocked from the beginning, showing a long-term commitment and widespread influence in the 1inch ecosystem.
The remaining amount of Tokens on the on-chain wallet shows significant financial resources, affirming YZi Labs' position in guiding the development of the system and the governance of Token 1INCH.
Comparison table of the number of 1INCH Tokens held by YZi Labs before and after the transfer.
Timeline Number of 1INCH Tokens Estimated Value (USD) Before Token Transfer 74 million ~ 15.91 million Transferred 5 million Tokens 5 million ~ 1.07 million After Token Transfer 69 million ~ 14.75 million
Frequently Asked Questions
Who is YZi Labs and what is its role in the 1inch ecosystem? YZi Labs is a strategic investor holding a large amount of 1INCH Tokens, contributing to shaping the development and financial roadmap of the project. What is the recent value of 1INCH Token transfers? 5 million 1INCH Tokens were transferred with an estimated value of about 1.07 million USD based on current market data. What does transferring Tokens to Binance signify? This action usually supports trading, increases liquidity, or prepares for other financial activities on the exchange. How many Tokens does YZi Labs currently hold? YZi Labs still holds 69 million 1INCH Tokens on the on-chain wallet, worth nearly 14.75 million USD. How does the Token buyback affect the price of 1INCH? Buying back Tokens helps push the price up, positively impacting investor confidence and market liquidity.
Source: https://tintucbitcoin.com/1inch-tang-thanh-khoan-chuyen-5-trieu/
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