Crypto Exchange 1inch Sells $21 Million Worth of ETH To Test New Protocol Upgrade Features

Crypto exchange 1inch has sold 11,000 ETH worth $21 million to test out new features of its Fusion mode upgrade. The transfer was noticed by users on Twitter and blockchain tracking tool Etherscan.

According to 1inch founder Sergej Kunz, the new feature allows for custom presets to set duration, start and end auction amounts, which is useful for rebalancing assets for DAOs, hedge and investment funds.

The Fusion update, launched in December, aims to provide more cost-efficient transactions with added security on top.

Ethereum $3,009.25

+3.71%

1inch

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