1INCH (1inch Network) rose 9.49% in the last 24 hours.

Gate News Bot news, July 15, according to CoinMarketCap data, as of the time of writing, 1INCH (1inch Network) is currently priced at $0.34, with a rise of 9.49% in the last 24 hours, peaking at $0.38 and dropping to a low of $0.19. The current market capitalization is approximately $480 million, an increase of $41.6 million from yesterday.

1inch Network is a decentralized trading aggregator that provides users with the optimal token swap paths across multiple DEXs. The platform has over 3.2 million users, with a cumulative trading volume exceeding $695 billion, having completed 189 million transactions. 1inch also offers DeFi products and services such as mobile wallets, asset portfolio tracking, and crypto payment cards.

1INCH recent important news:

1️⃣ 1inch team invests heavily in the fund Since July 6, the 1inch team investment fund has invested approximately 11.4 million USD to purchase 45.64 million 1INCH tokens, with an average purchase price of about 0.25 USD. This large-scale increase in holdings demonstrates the team's confidence in the project's prospects and also provides strong support for the token's price.

2️⃣ YZi Labs (formerly Binance Labs) divestment trends As the lead investor of 1inch, YZi Labs transferred 5 million 1INCH to Gate on July 10, worth approximately $1.07 million. Nevertheless, YZi Labs still holds about 69 million 1INCH, valued at around $14.75 million, showing that it still maintains a large position.

3️⃣ 1inch team investment address has seen a small-scale sell-off On July 15, the 1inch team sold 904,000 1INCH at a price of $0.33, exchanging it for 298,000 USDC. This operation may have been aimed at recouping part of the investment or adjusting the investment strategy, but compared to the previous large-scale increase, the impact is relatively limited.

From a technical perspective, the price of 1INCH has seen a significant rise over the past week, increasing from $0.18 to $0.34, with a rise of nearly 100%. This upward trend is highly consistent with the team's large-scale accumulation behavior, indicating a positive market response to the 1inch project. However, investors should also be aware that such a rapid rise may carry the risk of a short-term correction.

This message is not intended as investment advice; investors should be aware of market volatility risks.