1inch has denied allegations that its team or vaults sold 1INCH tokens amid recent market fluctuations. The company clarified that no wallets controlled by its entities or teams, nor multi-signature accounts in its vaults, were involved in selling tokens. 1inch emphasized that it does not control tokens held by third parties or their trading decisions.
In response to the market activity, 1inch announced plans to review its token economic model this year to enhance resilience during market downturns and periods of insufficient liquidity. This follows reports from Lookonchain that three investor wallets sold a total of 36,360,000 1INCH, cashing out approximately $5.04 million, which led to a 16.7% drop in the token's price.
1inch Denies Token Sales, Plans Economic Model Review
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