1inch’s team just sold approx. 11K ETH (or $20.9M as of now) worth of 1INCH tokens about an hour ago.
Any time a team or foundation has tokens, you should conservatively consider that imminent sell pressure. When and how is a larger question that nobody can really answer, but it’s very likely those tokens end up on the market. We’ve seen it time and time again — specifically with the Ethereum Foundation and the Chainlink team over the last few years.
Is this a bad thing? It depends on your perspective, and my answer is “not really”. The teams that build these products definitely deserve their fair share of tokens. And crypto is, perhaps, the freest of all existing markets — so they can do as they please with their tokens. But you and I, as individual token holders, should be aware of how many tokens are in the hands of investors, team members, advisors, and other large entities.
Tokens in a DAO reserve controlled by governance and tokens in the hands of entities with unilateral control are very different things, but often considered alike.
