Pantera Capital, a leading cryptocurrency venture capital firm, has vested all 96.5 million 1INCH tokens worth $32.35 million at the time of this writing.
According to Etherscan, Pantera Capital's Ethereum wallet numbered 0x233 also included 24,125,000 1INCH tokens ($8.12 million) delivered to it nine hours ago, bringing its total balance to 96.5 million 1INCH tokens.
This makes the company the largest holder of 1INCH excluding the altcoin team wallet.
The wallet also contains $11 million worth of Ethereum and $748,000 worth of Stader tokens, a staking platform for Ethereum 2.0. The wallet has a total balance of $45 million, of which $32 million consists of 1INCH tokens.
Vesting is a process used to restrict access to digital assets such as cryptocurrencies for a certain period of time. This is often done to align the interests of employees and token holders with the long-term success of a company or project.
*Not investment advice.