In This Altcoin, Developers Have Been Selling Huge Sales of Their Tokens for Three Days in a Row

According to Onchain data, a cryptocurrency's development team appears to have been selling its altcoin for three days in a row.

According to the data, sales from 1inch ($1INCH) developer wallets took place for the third day in a row. In the sales that started two days ago, a total of 5.2 million $1INCH tokens were sold for $2.8 million on the first day. With the sales made today, the total amount of cryptocurrency sold by the developer team reached 15.69 million $1INCH, which currently corresponds to $8.38 million.

The average sale price of the developer team's tokens was recorded as $ 0.533. At the time of writing, $1INCH is trading at $ 0.534. The price of the token, which rose to $ 0.57 during the day, showed a sharp decrease when it was revealed that the developers were selling.

On the other hand, the developers seem to have planned their sales strategically. The $1INCH token has surged more than 100% in the past month, showing similar price action to other altcoins. However, the token is still trading 93% lower than its all-time high price of $7.87.

*This is not investment advice.