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1inch denies team and treasury selling tokens, plans to review the tokenomics model this year
GateNewsBot
1INCH-2,59%
PANews January 28 News, 1inch issued a clarification and sale statement regarding the market fluctuations yesterday. 1inch stated that wallets controlled by its entities or teams, as well as multi-signature treasury accounts, have not sold any 1INCH tokens. 1inch does not control third-party-held tokens or their trading decisions. Additionally, 1inch Network plans to review its tokenomics model this year to further strengthen its resilience during market downturns and periods of low liquidity. According to yesterday’s news, monitored by Lookonchain, three 1INCH investor wallets collectively sold 36,360,000 1INCH tokens, cashing out approximately $5.04 million, which caused the 1INCH price to drop by 16.7%.
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