🛰️ FN Express | Is the 1inch team becoming swing trading experts? The next spot trading could be a guaranteed profit.
1inch, established in 2019 as an aggregator DEX, has seen its token $1INCH plummet from $6 to around $0.3 since the last cycle. The performance of its own token has been quite dismal. However, the team has cleverly played the game of buying low and selling high with their own token.
In the past week, amidst a general market uptrend, this trading ability has once again been highlighted. (0x225d3822de44e58ee935440e0c0b829c4232086e)
🟢 On July 10 at 5 PM, the team’s investment fund purchased 4.12 million 1INCH (worth $880,000), and then transferred 2 million USDT to Binance, at which point the price of 1INCH was $0.2;
🟢 On the evening of July 11, monitoring indicated that the 1inch team allegedly purchased another 11.81 million 1INCH, valued at $3.3 million, at a proposed price of $0.28. Currently, this address holds 83.97 million 1INCH, with a total value of $23.72 million.
🟢 On July 13 at 3 PM, after transferring USDT to Binance, the team again withdrew 6.334 million 1INCH. By this time, the 1inch team’s investment fund has spent a total of $13.64 million to acquire 55.85 million 1INCH since February, with an average price of $0.244. They are sitting on millions in unrealized gains.
🔴 On the evening of July 13 around 10 PM, the team sold 904,000 1INCH at a price of $0.33, converting it to $298,000. However, on the same day, the team transferred 2 million USDC around 7 PM.
Since the investment fund began buying tokens on July 10, the price of 1INCH has risen from around $0.2, reaching above $0.39 on July 13, nearly doubling in value.
If this is just an easy game of buying low and selling high with their own token, then their bold move to buy BTC against the trend earlier this year can be considered precise.
The 1INCH team’s investment fund bought 160.8 WBTC at an average price of $88,395 between February 2 and March 10, and has sold all of it at an average price of $94,219, making a profit of $936,000.
What lies behind the project team's trading expertise?
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