1inch Investment Fund Withdraws 20 Million 1INCH Tokens From Binance

On-chain analyst Yu Jin reports that the 1inch team has moved significant holdings off Binance, with nearly $5.53 million withdrawn in the past three months.

1INCH

Summary

The 1inch team fund withdrew 20 million 1INCH tokens from Binance, valued at $1.86 million, as reported by on-chain analyst Yu Jin. Over the last three months, the same fund withdrew 58.66 million 1INCH worth $5.53 million in total, signaling ongoing capital adjustments within centralized exchange holdings.

Terms & Concepts
  • On-chain analysis: A blockchain data evaluation method that tracks and interprets cryptocurrency transactions directly from public ledgers.
  • 1INCH token: The native cryptocurrency of the 1inch decentralized exchange aggregator, used for governance and utility functions within its ecosystem.
  • USDC (USD Coin): A stablecoin pegged to the U.S. dollar, used for trading and transfers within the crypto ecosystem.