1-Inch Coin Investor Transfers 7.01 Million Coins Worth $3.42 Million to Binance
On April 30th, according to Twitter user @ BitcoinEmber, a 1-inch investor transferred 7.01 million 1-inch coins worth approximately $3.42 million to Binance. The investor has obta
On April 30th, according to Twitter user @ BitcoinEmber, a 1-inch investor transferred 7.01 million 1-inch coins worth approximately $3.42 million to Binance. The investor has obtained a total of 15 million 1INCHs, and currently has sold all the 11.25 million unlocked 1INCHs. Among them: 2 million pieces are sold on the chain, with an average selling price of $1.34; 750000 pieces were transferred to FTX at a price of $3.47 at the time; 8.5 million pieces were transferred to Binance, with an average price of $0.62.
A certain 1 inch investor transferred 7.01 million 1 inches to Binance
Recently, on April 30th, an investor holding 1-inch coins made a significant transfer to Binance. According to Twitter user @BitcoinEmber, the investor transferred 7.01 million 1-inch coins worth approximately $3.42 million to Binance. The investor has obtained a total of 15 million 1INCHs, and currently has sold all the 11.25 million unlocked 1INCHs.
What is 1-Inch Coin?
1-Inch Coin is a decentralized exchange (DEX) aggregator that is designed to optimize trades across various platforms. This DeFi (decentralized finance) project operates on the Ethereum blockchain and offers users some of the best prices and favorable terms on trades. The development team behind 1-Inch Coin launched the platform in 2019 as a response to the high fees and slippages present in decentralized exchanges.
The Investor’s 1-Inch Coin Journey
The investor made three sales of their 1-inch coins: two million pieces on-chain, 750,000 pieces transferred to FTX, and 8.5 million pieces transferred to Binance. The on-chain sale had an average selling price of $1.34, while the 750,000 1-inch coins transferred to FTX were priced at $3.47 at the time of transfer. The investor transferred the remaining 8.5 million coins to Binance, where they had an average selling price of $0.62.
Why Did the Investor Sell Their 1-Inch Coins?
The investor’s decision to sell their 1-inch coins may have been based on various factors, including market trends, the coin’s price performance, and the investor’s investment strategy. As with all cryptocurrencies, the market for 1-inch coins can be volatile, leading to significant changes in their market price.
What Does the Transfer Mean for 1-Inch Coin?
The transfer of 7.01 million 1-inch coins worth $3.42 million to Binance is a significant move for the cryptocurrency. The investor’s actions have a crucial effect on the price of the token. The transfer may result in a decrease in the value of the coin if other investors follow suit. However, if more investors buy 1-inch coins, the value of the coin might increase.
Conclusion
Cryptocurrency investors always look to stay ahead of the game and maximize profits by following market trends and making informed decisions. The movement of 7.01 million 1-inch coins worth $3.42 million to Binance highlights the importance of keeping track of market trends and taking quick and decisive action when necessary.
FAQ
Q1. What is the 1-Inch Coin?
1-Inch Coin is a decentralized exchange that operates on the Ethereum blockchain.
Q2. Why did the investor sell their coins?
The investor’s decision to sell their 1-inch coins may have been based on various factors, including market trends, the coin’s price performance, and the investor’s investment strategy.
Q3. What does the transfer mean for 1-Inch Coin?
The transfer of 7.01 million 1-inch coins worth $3.42 million to Binance is a significant move for the cryptocurrency. The investor’s actions have a crucial effect on the price of the token.
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