1inch denies team and treasury token sales, plans to review tokenomics this year
PANews, January 28 – 1inch issued a clarification statement regarding yesterday's market fluctuations, stating that wallets controlled by its entities or team, as well as treasury multi-signature accounts, have not sold any 1INCH tokens. 1inch does not control tokens held by third parties or their trading decisions. In addition, 1inch Network plans to review its tokenomics this year to further strengthen its resilience during periods of market downturn and insufficient liquidity.
Yesterday's news, according to monitoring by Lookonchain, three 1INCH investor wallets collectively sold 36,360,000 1INCH tokens, cashing out approximately $5.04 million, causing the price of 1INCH to drop by 16.7%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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