Pantera Capital Continues to Sell 1INCH Despite 12% Price Surge From Project Team Purchases

Yesterday, the price of 1INCH saw a notable 12% increase, largely driven by purchases from the 1inch team itself.

1inch encountered a contrasting force yesterday as its price surged by 12%, largely driven by purchases from the 1inch team itself. This surge was met with a significant counterforce: Pantera Capital, a major institutional investor, continued to sell off its 1INCH holdings.

Just two hours ago, Pantera Capital transferred 13.65 million 1INCH, worth approximately $3.55 million, to Coinbase Prime. This move is part of a larger sell-off strategy that Pantera Capital began 28 days ago, on July 23. Over this period, the investment firm has transferred a total of 59.11 million 1INCH, valued at $17.87 million, to Coinbase Prime.

Pantera Capital Initially Acquired 96.5 Million 1INCH

Pantera Capital initially acquired 96.5 million 1INCH through its investment in the project. The recent sales represent a significant portion of their holdings, signaling a potential shift in their long-term outlook on the token. While the reasons behind Pantera’s decision to sell are unclear, their actions introduce uncertainty into the market, even as the 1inch team’s purchases attempt to bolster the token’s value.

The contrasting actions of these two influential entities—one buying and the other selling—create a mixed outlook for 1INCH in the short term. On one hand, the support from the 1inch team suggests confidence in the project’s future. On the other hand, Pantera Capital’s continued sell-off may indicate a more cautious or bearish stance.

As the market digests these developments, the future trajectory of 1INCH remains uncertain, with traders and investors closely watching for any further moves by either the 1inch team or Pantera Capital.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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