Yesterday, the price of 1INCH saw a notable 12% increase, largely driven by purchases from the 1inch team itself. This surge in value highlights growing confidence from the project’s core team.
However, this positive momentum is met with a significant counterforce: Pantera Capital, a major institutional investor, has been steadily offloading its 1INCH holdings.
Just two hours ago, Pantera Capital transferred 13.65 million 1INCH, worth approximately $3.55 million, to Coinbase Prime. This move is part of a larger sell-off strategy that Pantera Capital began 28 days ago, on July 23. Over this period, the investment firm has transferred a total of 59.11 million 1INCH, valued at $17.87 million, to Coinbase Prime.
受 1inch 团队购买影响，$1INCH 在昨天上涨 12%。
不过 1inch 的投资机构 Pantera Capital 却在最近出售 1INCH：2 小时前，Pantera Capital 将 1365 万枚 1INCH ($3.55M) 转入 Coinbase Prime。
Pantera Capital 通过投资一共获得了 9650 万枚 1INCH，他们从 28天前 (7/23) 开始分批出售… https://t.co/a7g2o9tt3A pic.twitter.com/Q6M7LreZRc
— 余烬 (@EmberCN) August 21, 2024
Pantera Capital Initially Acquired 96.5 Million 1INCH
Pantera Capital initially acquired 96.5 million 1INCH through its investment in the project. The recent sales represent a significant portion of their holdings, signaling a potential shift in their long-term outlook on the token. While the reasons behind Pantera’s decision to sell are unclear, their actions introduce uncertainty into the market, even as the 1inch team’s purchases attempt to bolster the token’s value.
The contrasting actions of these two influential entities—one buying and the other selling—create a mixed outlook for 1INCH in the short term. On one hand, the support from the 1inch team suggests confidence in the project’s future. On the other hand, Pantera Capital’s continued sell-off may indicate a more cautious or bearish stance.
As the market digests these developments, the future trajectory of 1INCH remains uncertain, with traders and investors closely watching for any further moves by either the 1inch team or Pantera Capital.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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