TokenUnlock launches hundreds of millions of dollars on December 30 1INCH announced that the token will be unlocked. 222,187,500 tokens (15% of the supply) could be released very soon. Here are the details.
Although 1INCH 2020 was launched in December, only 6% of the supply was put into circulation. The network capped its total supply to 1.5 billion. The locked tokens are set to be released via vesting every two years until December 2024. The vesting, which will take place on December 30, will be the second and final vesting for 2022.
According to CoinMarketCap data, there are currently 780 million 1INCH tokens in circulation. On the other hand, 780,840,748 tokens are locked in contracts. According to the plans, by January 2023 the circulating supply will reach 890 million. which means that 59% of the total supply will go into circulation.
1INCH Token Price at Risk of Fall
The 1INCH token opening event last took place in June. In the intervening time, the price dropped from 25% to $0.60. According to the data, a whale deposited more than 15 million tokens shortly before the event in June.
Etherscan reported on December 2 that the same whale deposited more than 15 million 1INCH. On December 2, prices were down by about 3% as a result of this last deposit. fell.
1INCH Foundation transferred out 15.56M 1INCH ($8M) 18 hours ago, and transferred to #Binance 4 hours ago.
NEWS CONTINUES BELOWthe last time @1inch transferred out 15.56M 1INCH was on June 9, when the price of 1INCH dropped from $0.81 to $0.6 within a week, a drop of 25%.https://t.co/b7KWe6yES8 pic.twitter.com/ZpDjxh3kMj
— Lookonchain (@lookonchain) December 2, 2022
As the Vesting event approaches altcoinIt is thought that the price will decrease. However, representatives from the 1INCH network announced that the 15 million token transfer was not theirs.
On the other hand, unlocking hundreds of millions of tokens can trigger inflation, lowering the price.
1INCH Network‘s price was $ 0.3891, the market value was recorded as $ 582 million. The 24-hour trading volume is up 61.33% and is around $18 million. At the same time, the circulating supply was recorded at approximately 780,840,748 1INCH.
In the last 24 hours, the 1INCH price is down 4.46% to $0.3891. Many in the community are worried that the upcoming unlock will cause the DEX token to be trashed.