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 yesterday morning. Then, they transferred 975 thousand USDT 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On the other hand, a large whale or institutional wallet has withdrawn another 7 million FORMs (approximately $19 million) from Binance in the last 2 hours. This is the third day in a row that the whale has withdrawn 7 million FORMs.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Another major investor has also withdrawn a total of 620,000 UNI tokens (approximately $4.6 million) from the OKX exchange over the past three days.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.
