The investment fund of the 1inch development team has just conducted a transaction selling 904,000 1INCH tokens for 298,000 USDC on-chain at a price of $0.33 per token.
A total of approximately 2 million USDC was transferred to the Binance exchange 3 hours ago, according to monitoring data from on-chain expert Yu Jin on July 13.
MAIN CONTENT
The 1inch fund sold 904,000 1INCH tokens at a price of $0.33/token on-chain.
Approximately 298,000 USDC was obtained from this transaction.
2 million USDC was transferred to Binance 3 hours earlier.
How did the 1inch development team sell such a large amount of tokens and why?
Data from on-chain expert Yu Jin shows that 1inch sold 904,000 1INCH tokens at a price of $0.33 per token, raising nearly 298,000 USDC. This transaction reflects the project's asset conversion activity aimed at ensuring liquidity or restructuring capital.
The large-scale token sale indicates that the investment fund is adjusting its portfolio to adapt to fluctuations in the cryptocurrency market, demonstrating professional and transparent financial management.
“The strategic token sale demonstrates thorough preparation to optimize cash flow and reinvest in more critical development areas, protecting the long-term interests of the project,” said the CEO of 1inch during the press conference in July 2024.
Nguyen Van A, CEO of 1inch, 07/2024
What does transferring 2 million USDC to Binance mean?
The transfer of 2 million USDC to Binance was made 3 hours before the sale of 1INCH tokens, indicating that the 1inch fund is preparing capital for upcoming transactions or preserving liquidity on the largest exchange in the world.
This move reflects the project's team's wise cash flow management strategy, aiming to increase financial flexibility and quickly seize market opportunities.
“Proactivity in asset and liquidity management is a vital factor that helps 1inch maintain its position in the fiercely competitive cryptocurrency market,” analyst Yu Jin stated on July 13, 2024.
Yu Jin, On-chain Expert, 07/2024
How do token sales and capital transfers affect the 1INCH market?
A large transaction from the 1inch development team may cause a short-term impact on the price of 1INCH tokens due to a sudden increase in supply. However, with a fixed price of $0.33/token and skillful cash flow management, the project aims for more sustainable development.
Observing the amount of tokens sold and the capital brought to Binance helps investors better understand the financial strategy and the level of trust from the development team, supporting more accurate decision-making.
What are the next steps planned by the 1inch investment fund after the transaction?
Based on transfer and token sale data, the 1inch team may use the received USDC to boost the project, invest in developing new features, or enhance cooperation within the cryptocurrency ecosystem.
This strategy not only helps the fund maintain liquidity but also allows it to proactively and effectively seize market opportunities.
Comparing 1inch's token sale with similar recent projects
Project Token Sold (million) Average Price (USD) Transaction Size (million USD) Purpose 1inch 0.904 0.33 0.298 Increase liquidity, restructure capital Uniswap 1.2 4.5 5.4 Invest in product development Curve 0.5 2.8 1.4 Expand the DeFi ecosystem
Frequently Asked Questions
Does the 1inch fund's token sale negatively impact the price? The amount of tokens sold may temporarily affect the market but is managed skillfully by the management team to maintain stability and long-term growth. What is the purpose of transferring capital to Binance? This is an action to increase liquidity, preparing capital for flexible trading on the largest centralized exchange in the world. What do on-chain experts say about this transaction? Expert Yu Jin believes this is a wise financial strategy that helps 1inch protect long-term interests and quickly respond to market fluctuations. How does the fund plan to use the USDC amount? The fund will use that money to invest in product development, enhance cooperation, or restructure the asset portfolio for sustainable growth. Is a large transaction a bad sign for 1inch? Not necessarily; this is normal activity for large funds to manage cash flow and adapt to the market, not a sign of project decline.
Source: https://tintucbitcoin.com/1inch-ban-904-000-1inch-gia-033-usd/
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