Summary
- The 1INCH team fund is reported to have recently purchased its own token worth $4.4 million.
- The possibility of additional purchases by the team fund was mentioned, with the total accumulated purchase amount at $6,648,000 and the average purchase price at $0.2.
- Following this large-scale purchase, the price of 1INCH rose by 14%%, and it is currently trading at $0.2064.
Over the past 3 days, the estimated address of the 1INCH team fund has been found to have purchased its own tokens worth $4.4 million.
On the 9th (local time), AmberCN reported via X (formerly Twitter), "Since the 6th (local time), the 1INCH fund address has used $4.4 million to buy 22,990,000 1INCH," adding, "Since there is still some USDC left, further purchases may take place." It was further stated, "Since this past February, the address has purchased a total of 3,319 tokens," and "this amounts to $6,648,000, with an average purchase price of $0.2."
Meanwhile, this purchase has reportedly caused the price of 1INCH to rise by about 14%. As of 9 pm, based on the Binance USDT market, 1INCH is trading at $0.2064, up 5.79% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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