Despite a significant withdrawal from the 1inch Investment Fund, holders of the token were unmoved as the 1INCH's price remained in a tight range.
According to data from
, the fund address, at press time, held 9,453 ETH, 31.79 million USDT, 396,356 UNI, 52.18 USDC, and 500 Galxe [GAL].While this purchase was a significant event capable of influencing 1INCH’s price direction, the market remained flat as the alt’s price traded within a narrow range at press time. According toIncreased 1INCH selloffs at the beginning of the month caused its price to trend downward in the last 30 days. Exchanging hands at $0.
The surge in exchange reserves indicated an increased 1INCH distribution. Interestingly, the period was marked by a negative Market Value to Realized Value ratio. This indicated that 1INCH was undervalued, and investors who sold did so below their cost basis, thereby logging losses.While sell-offs have slowed in the past few weeks, with a decrease in exchange reserves spotted at press time, accumulation has also waned. On a daily chart, key momentum indicators rested below their center lines, inching closer to oversold zones.
1INCH’s Relative Strength Index and Money Flow Index were 33.66 and 39.46 at the time of writing. A decrease in the number of tokens being traded and a lack of new tokens being accumulated suggested that investors have stayed their hands from trading.
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