1inch Team Withdraws $1.86M Worth of Tokens, Signaling Strong On-chain Activity

1inch Team's On-chain Activity Sparks Interest

According to on-chain analyst Embers, the 1inch team recently withdrew 20 million 1INCH tokens, worth approximately $1.86 million, from Binance within two hours. This move has sparked renewed interest in the team's on-chain behavior.

Tracking the Fund Flow

Back in November, the 1inch team deposited 5 million USDC into Binance. Over the past three months, they have gradually withdrawn 58.66 million 1INCH tokens, totaling around $5.53 million.

• November 2023: Transferred 5 million USDC to Binance
• First three months of 2024: Gradually withdrew 58.66 million 1INCH
• Latest action: Withdrew 20 million 1INCH within two hours

These actions may indicate a strategic reallocation of funds or adjustments in on-chain liquidity. Analysts suggest that withdrawing large amounts of assets back on-chain could signal the team’s confidence in the project's development.