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Whale Investor Transfers 7.01 Million 1INCH Tokens Worth $3.42 Million to Binance, Realizes $10.6 Million Profit

Cointime Official

April 30 (Cointime) - A whale investor has transferred 7.01 million 1INCH tokens worth $3.42 million to Binance, according to a tweet by user @BitcoinEmber.

The investor received a total allocation of 15 million 1INCH tokens at a cost of either $0.01 or $0.067 per token. The tokens are subject to a four-phase unlocking process starting from December 1, 2021, with each phase unlocking 3.75 million tokens.

So far, the investor has unlocked and sold a total of 11.25 million tokens. Of these, 2 million were sold on-chain for an average price of $1.34, while 0.75 million were sold on FTX at a price of $3.47. The remaining 8.5 million tokens were transferred to Binance at an average price of $0.62. The investor has reportedly realized a profit of $10.6 million, representing a return on investment of either 70x or 10.6x depending on the investment cost.

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