Date: Wed, Sept 04, 2024, 05:30 PM GMT
In the cryptocurrency market today, 1inch (1INCH) made a strong comeback, standing out with an impressive 20.33% price surge. This push brought the token's current value to $0.2746, with trading volume soaring by a staggering 621.75% in just 24 hours.
The catalyst behind this sudden spike is the 1inch Team's strategic purchase of their own token. Earlier tiday, the team spent $1.75 million in USDC to acquire 7.96 million $1INCH tokens at a price of $0.22 per token. This is not their first move in recent weeks; since July 5, the 1inch Team has invested a total of $5.49 million to buy 22.4 million 1INCH tokens at an average price of $0.25.
Source: Lookonchain
These consistent buybacks by the 1inch Team reflect their confidence in the project and have significantly boosted market sentiment around the 1INCH token. The market has responded positively, with traders and investors taking note of the team's commitment to their platform. As a result, 1INCH has emerged as a bright spot in the market, attracting attention and optimism from the crypto community.
With the 1inch Team actively backing their token, the market could see continued interest and potential growth in 1INCH, making it one to watch closely in the coming days.
