Share this article
1Inch Token Balance on Centralized Exchanges Surges to $65M
The balance held in wallets tied to centralized exchange has surged by 50% in three days, per Glassnode data.
Jul 19, 2023, 8:59 a.m.
Make us preferred on Google
The number of 1INCH tokens held in wallets tied to centralized exchange on Tuesday rose to a record high of over 184.28 million ($65 million), according to data tracked by analytics firm Glassnode.
The so-called exchange balance has increased by 50% in three days, with the tally representing 18.65% of the circulating supply of 987.6 million and 12.2% of the total supply of 1.5 billion. 1INCH is the native token of decentralized exchange (DEX) aggregator 1inch, launched in December 2020.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Investors typically move coins to exchanges when intending to sell or deploy coins as margin for trading derivatives. Hence, a notable increase in balance held in exchange wallets is widely considered a precursor of price volatility.
1INCH fell by 10% to 36 cents on Tuesday, registering its biggest single-day (UTC) decline since June 10, data from charting platform TradingView show. The cryptocurrency changed hands at 35 cents at press time, down 18% for the week. The decline has reversed most of the token's surge from 30 cents to nearly 60 cents observed in seven days to July 16.
Per Prithvir Jhaveri, co-founder and CEO of Loch Research, profit taking by a whale is one of the factors responsible for the price drop.
"The whale who initiated the pump decreased his holdings to 91m tokens, which is less than what he held before the pump," Jhaveri tweeted late Tuesday. "The whale sold at the top in conjunction with Celsius selling."
On Monday, bankrupt crypto lender Celsius moved more than a million worth of ZRX, 1INCH and Tether's gold-pegged stablecoin XAUT to institutional crypto exchange FalconX, potentially to liquidate them for bitcoin and ether.
Disclaimer: This article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see our Ethics Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Silver nears $1 billion in volume on Hyperliquid as bitcoin remains frozen: Asia Morning Briefing
Silver perps have more volume on Hyperliquid than SOL or XRP.
What to know:
- Silver futures on the Hyperliquid crypto derivatives exchange have surged to become one of its most active markets, ranking just behind bitcoin and ether in trading volume.
- The SILVER-USDC contract’s high volume, sizable open interest and slightly negative funding suggest traders are using crypto infrastructure for volatility and hedging in macro commodities rather than for directional crypto bets.
- Bitcoin is holding near $88,000 in a "defensive equilibrium" with cooling ETF inflows, uneven derivatives positioning and rising demand for downside protection, while ether lags and capital rotates toward hard assets like gold and silver.
Top Stories
