April

In this struggling cryptocurrency market, the crypto giant Alameda Research recently deposited a massive amount of 1INCH tokens onto the world’s biggest cryptocurrency exchange, Binance. On April 29, 2024, an on-chain analytics firm,SpotOnChain, made a post on X (previously Twitter) stating that Alameda Research’s wallet address, 0x4b1, sold over 7.44 million 1INCH tokens, worth $3.14 million, with an average price of $0.422.&nbsp; Alameda research dump $3,14 1INCH&nbsp; 
Following this massive sell-off, the price of 1INCH tokens experienced a drop of over 6%. Notably, in June 2023, Alameda 0x4b1 received 14.44 million 1INCH tokens from 1inch. They then deposited these tokens to a centralized exchange (CEX) through Wintermute in two phases in April 2024. The first deposit was made right before the price fell by around 68% in a market crash.
However, <a href="https://news.todayq.com/eth-dump-incoming-alameda-research-offloads-15-mln-eth/" rel="noopener noreferrer nofollow">Alameda</a> dumped massive cryptocurrencies in April 2024. According to a report by Todayq News, in April 2024, they dumped over $30 million worth of the world’s 2nd biggest cryptocurrency, Ethereum. They sold over $15 million worth of Ethereum on April 9, 2024, whereas the second dump was of $14.4 million worth of ETH, which took place on April 23, 2024, as reported by Todayq News. 1INCH token price-performance analysis&nbsp; 
The price of 1inch Network’s token (1INCH) is currently trading near $0.41, and in the last 24 hours, it has experienced over 6% downside momentum. If we look at the performance of 1INCH over a longer period, in the last 7 days, the token has experienced a 5% downside momentum. Whereas, in the last 30 days, due to the release of CPI data in the United States, geopolitical tensions between Iran and Israel, and other factors, it has experienced a price drop of over 32%.&nbsp;
Besides the massive price fall in 1INCH, the overall cryptocurrency market is also experiencing downside momentum, and in the last 24 hours, it is down by 3.5%. Amid this price fall, it looks like investors and traders are showing more interest, as in the last 24 hours, the trading volume has massively increased by 8%, and it currently stands near $56.15 billion.&nbsp;
Whereas, the top cryptocurrencies like Bitcoin, Ethereum, Solana, and others are also experiencing downside momentum. In the last 24 hours, Bitcoin, Ethereum, Solana, and Ripple experienced a price fall of over 2.5%, 4%, 6%, and 4%, respectively.

1INCH drops 6%, Is Alameda Research’s crypto dump behind it?

Todayq News

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