- 1inch’s fund locked $421K profit from WBTC sales and swiftly reinvested $1.05M USDC to buy 5.23M 1INCH tokens near $0.199.
- Fusion+ upgrades eliminate Ethereum gas fees and boost cross-chain swaps while empowering 1inch DAO users with governance rights.
- 1INCH shows buying momentum as it holds above the 20 SMA with a BBP reading of 0.0029 and volume spikes during price surges.
1inch’s Investment Fund has made bold moves over the past two days. The fund sold 70.76 WBTC for 6.68 million USDC at an average of $94,346 each. Consequently, it now holds 55.39 WBTC valued at around $5.15 million, locking in an estimated profit of $421,000 or 2.92%. Besides taking profits, 1inch quickly reinvested $1.05 million USDC to buy back 5.23 million 1INCH tokens at approximately $0.199 each.
Notably, 1inch has a strong track record trading its token, entering at $0.245 and exiting at $0.534 earlier in 2024, posting an impressive 118% gain. Moreover, excitement around the recent Fusion+ upgrades has pushed 1INCH further into the spotlight.
Fusion+ Brings Zero Gas Fees and Cross-Chain Magic
Fusion+ is revolutionizing token swaps by removing Ethereum’s notorious gas costs. Hence, users can swap across chains without draining their wallets. Additionally, Fusion+ aggregates liquidity from hundreds of DEXs across multiple blockchains. This ensures that users get the best rates at lightning speed.
Besides the cost savings, the sleek new UI delivers faster matches and smoother transactions. Consequently, power users enjoy an experience that feels effortless yet highly efficient. Moreover, Fusion+ leans heavily on 1inch DAO governance. Users who stake $1INCH can vote on upgrades, shaping the platform’s future direction.
1INCH Price Action Signals Renewed Momentum
The 1INCH/USDT on Binance has shown intriguing movements in the past 24 hours. Trading opened at $0.2029 and hit a high of $0.2040. However, a sudden price spike near 21:00 pushed 1INCH above $0.2060, before a quick correction pulled it back. Besides, the Bollinger Bands show that 1INCH is trading between the middle and upper bands.
The 20 SMA closes at $0.2018, offering crucial support during retracements. The BBP indicator shows a reading of 0.0029 with green bars, suggesting increased buying momentum. Moreover, volume surged during the spike but eased off during consolidation. Currently, 1INCH trades at $0.2038, maintaining stability above the 20 SMA.
