Developers Made Massive Purchases of Their Own Token in This Altcoin – BitRss

According to on-chain data analyst Yu Jin, the investment fund belonging to the 1inch team withdrew 5.01 million 1INCH tokens (about $940,000) from the cryptocurrency exchange Binance about half an hour ago.

According to the analysis, the team purchased 9.65 million 1INCH on-chain for 1.75 million USDC ($1.00) yesterday morning. Then, they transferred 975 thousand USDT ($1.00) to Binance and purchased 1INCH, and finally withdrew the tokens from Binance.

Since February, the fund has spent a total of $4.97 million to purchase 24.86 million 1INCH shares, at an average price of $0.2.

On the other hand, a large whale or institutional wallet has withdrawn another 7 million FORMs (approximately $19 million) from Binance in the last 2 hours. This is the third day in a row that the whale has withdrawn 7 million FORMs. In total, 21 million FORMs (approximately $58.55 million) have left Binance in the last three days.

Another major investor has also withdrawn a total of 620,000 UNI ($7.26) tokens (approximately $4.6 million) from the OKX exchange over the past three days. It is believed that this investor recently deposited 3 million USDT into OKX and then purchased UNI with this fund.

*This is not investment advice.

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