The 1inch Team has recently made a substantial move in the market, purchasing 7.96 million $1INCH tokens for $1.75 million USDC, a transaction that has significantly impacted the token’s price. According to on-chain analytics platform Lookonchain, this buy pushed the price of $1INCH above $0.27, marking an impressive 20% increase. With this, $1INCH has recovered the price value lost during the last 10 days.
Strategic Accumulation Reflects 1inch Team’s Confidence in $1INCH’s Long-Term Potential
This latest purchase adds to a series of strategic acquisitions by the 1inch Team, which began on July 5. Over the past few months, the team has accumulated a total of 22.4 million $1INCH tokens for approximately $5.49 million USDC. Their buying strategy, which has seen them acquire tokens at various price points, reflects a strong belief in the long-term value of $1INCH.
The team’s recent activity highlights their confidence in the future growth of $1INCH, and their actions have sent a clear signal to the market. By continuing to accumulate $1INCH, the 1inch Team is not only bolstering their position within the ecosystem but also contributing to the token’s rising value.
Market Anticipates Potential Supply Crunch as $1INCH Price Rises
As the price of $1INCH continues to climb, market observers will be keen to see how the team’s ongoing investments influence the broader market dynamics and the future trajectory of the token. The situation will become interesting if 1inch team accumulates more coins creating a supply crunch. However, we cannot predict what will be their next move.
