1INCH Developers Buy 24.86 Million Tokens Since February

Developers of the altcoin 1INCH have made substantial purchases of their own token, demonstrating a significant level of confidence in the project. According to on-chain data analyst Yu Jin, the investment fund belonging to the 1inch team withdrew 5.01 million 1INCH tokens, valued at approximately $940,000, from the cryptocurrency exchange Binance about half an hour ago. This move follows a series of purchases made by the team, including the acquisition of 9.65 million 1INCH on-chain for 1.75 million USDC yesterday morning. The team then transferred 975 thousand USDT to Binance and purchased additional 1INCH tokens, which were subsequently withdrawn from the exchange.

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 per token. This consistent investment by the development team indicates a strong belief in the project's future growth and potential. The team's actions suggest that they are committed to the success of the 1INCH ecosystem and are willing to invest their own resources to drive its development. This level of commitment can be seen as a positive signal for the altcoin's prospects, as it demonstrates the team's dedication and confidence in the project.

The developers' confidence in their token is evident from these large-scale purchases, which could potentially influence market sentiment and attract more investors to the 1INCH ecosystem. The team's actions suggest a strong belief in the project's future growth and potential, as they have chosen to invest a considerable amount of their own resources into the token. This level of commitment from the development team can be seen as a positive signal for the altcoin's prospects, as it demonstrates their dedication to the project's success and their willingness to put their money where their mouth is.