The 1inch team has made a strategic move, investing $4.4 million in 1INCH tokens, driving the price up by 14%. This bold investment signals confidence in the project’s future.
1inch Team’s $4.4M Investment in 1INCH Tokens
According to on-chain analyst @EmberCN, the 1inch team’s investment fund spent $4.4 million in USDC to purchase 22.99 million 1INCH tokens since July 6. This activity pushed the price from $0.18 to $0.206.
Ongoing Buying Activity on Binance Exchange
The fund transferred 3 million USDC to Binance Exchange on July 8, using $962,000 to buy 4.75 million 1INCH tokens. Not all USDC has been spent, suggesting more purchases are coming.
Total Investment Cycle and Average Purchase Price
Including earlier purchases from February to April, the total spent on 33.19 million 1INCH tokens is $6.65 million, with an average price of $0.20.
Why This Cryptocurrency Investment Matters
- Boosts investor confidence in 1INCH tokens
- Highlights the team’s commitment to the project
- Potential for further price appreciation
Frequently Asked Questions (FAQs)
How much did the 1inch team invest in 1INCH tokens?
The team invested $4.4 million in USDC to purchase 22.99 million 1INCH tokens since July 6.
What was the impact on the 1INCH token price?
The price increased by 14%, from $0.18 to $0.206.
Is the buying activity still ongoing?
Yes, not all transferred USDC has been used, suggesting more purchases are likely.
What is the average purchase price in this cycle?
The average purchase price is $0.20 for 33.19 million 1INCH tokens.
