1inch Team Allegedly Acquires 2.91 Million $1INCH Amidst Recent Upswing
CryptoNewsTerminal Staff19 Aug, 2024
1inch Team Allegedly Acquires 2.91 Million $1INCH Amidst Recent Upswing
1inch (1INCH) Team's Activity Raises Speculation According to Twitter user AmberCN, an address believed to belong to the 1inch team has made significant purchases of the 1INCH token in recent weeks. The address reportedly acquired 2.91 million $1INCH in the past five hours, amounting to approximately $728k. Notably, this purchase brings the total $1INCH acquired by the address to 4.76 million ($1.32 million) over the past month and a half. The average buy price during this period has been $0.277. Many consider this accumulation by the 1inch team as bullish sign. 1INCH Market Performance The $1INCH token has been experiencing a recovery in recent days, with a 24-hour price increase of over 5%. The token has also seen noteworthy gains against Bitcoin (BTC) and Ethereum (ETH), with a 2.3% increase against BTC and a 3.4% increase against ETH. Conclusion The potential accumulation of $1INCH tokens by the 1inch team could be a positive signal for the token's future. As the team continues to develop its decentralized exchange aggregation protocol, the increased demand for $1INCH could further support its value.
