According to Onchain data, a cryptocurrency's development team appears to have been selling its altcoin for three days in a row.
According to the data, sales from 1inch (1INCH) developer wallets took place for the third day in a row. In the sales that started two days ago, a total of 5.2 million 1INCH tokens were sold for $2.8 million on the first day. With the sales made today, the total amount of cryptocurrency sold by the developer team reached 15.69 million 1INCH, which currently corresponds to $8.38 million.
The average sale price of the developer team's tokens was recorded as $ 0.533. At the time of writing, 1INCH is trading at $ 0.534. The price of the token, which rose to $ 0.57 during the day, showed a sharp decrease when it was revealed that the developers were selling.
On the other hand, the developers seem to have planned their sales strategically. The 1INCH token has surged more than 100% in the past month, showing similar price action to other altcoins. However, the token is still trading 93% lower than its all-time high price of $7.87.
*This is not investment advice.
