It is known that in cryptocurrencies, the supply that exists in the market can be purchased by the teams managing the project from time to time. The other day, it was caught by important followers of the market that the team of 1INCH, one of the important projects of the market and ranked 140th in the market in terms of volume, made a move in this direction. However, it was seen that things were not limited to this.
1INCH Team Made a Recruitment
One of the important projects of the market 1INCH’s It has been seen that the team at the head of the company has made sales at important points from past to present. However, things have turned around recently. According to the post shared by Spot on Chain the other day, over 9 million tokens have been purchased by the team. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
What made this situation important was the second purchase that took place in the past hours, and this caused the situation to become more complicated.
Following this news, Lookonchain, which revealed a new purchase made in the past hours, revealed that the team made a new purchase, purchasing 7.96 million 1INCH tokens for approximately $ 1.75 million. The common point about all the moves made was that the people who made the purchase literally hit the bottom levels.
According to the information shared by Lookonchain, the price of 1INCH rose in a short time after the purchase and made the move that allowed it to break the $ 0.27 level and leave behind $ 0.28.
1INCH Comments
1INCH The coin was launched in 2020, before the last bull run. It is understood that the token has seen a noticeable decline since then, but it still remains in the top 150 in terms of volume. As of today’s writing time, the price of the token has increased, especially after the purchase.
After a 25% upward move in 24 hours, the token rose to $0.2837, indicating a move far ahead of the market. Bitcoin price was only able to increase by 1% following the JOLTS data.
1INCH’s price movement also increased the market volume and 24-hour trading volume. After the price movement, the market volume increased to $ 355 million, while the trading volume exceeded $ 120.5 million after a 576% increase. Although it is not known how the team’s purchases were made at the bottom level, In 1INCH It would not be wrong to say that the movement seen made investors happy.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
