When forecasting the future price of a particular cryptocurrency, it is highly recommended that careful considerations be made. Since the crypto markets are full of surprises, it is considered one of the most volatile markets, if not the most volatile.
Aiming to provide the “best rates by discovering the most efficient swapping routes across all leading DEXes,” 1inch collates and aggregates token prices across a range of decentralized exchanges to seek out the best deals for clients.
Good news for 1Inch investors in 2022, the blockchain is launching a documentation portal to help technical analysts gain access to crucial detailed descriptions of protocols on the platform. Here is a tweet from the official 1inch network Twitter profile announcing the new feature:
The 1inch aggregation protocol uses the Pathfinder Algorithm to find the best prices from more than 60 liquidity sources on Ethereum, more than 30 on Binance, and more than 30 on liquidity sources on Polygon Optimistic Ethereum and Arbitrum.
The DeFi Racer game isn’t a separate app for newbies and is integrated into the #1inchWallet for #iOS. Don’t forget to check out the Prize Leaderboard and get more info on how many tokens you can receive. The overall prize pool is 10K 1INCH tokens. To get more from a platform, check out their social media platforms.
What is 1inch?
1inch is the utility token for the 1inch network. 1inch is a DEX aggregator. 1inch exchange is developed to ease and convenience for DeFi users to obtain better services within the DeFi space.
An aggregator like 1inch derives its liquidity from several other DEXs and pools them into one platform. The pooling allows the DEX aggregator to offer its users the best swapping rates possible, beating all the individual DEX platforms like Uniswap and Sushiswap due to its vast liquidity provider pool.
Additionally, 1inch has undergone tremendous changes in its core over the years, and today, the platform embraces the Decentralized Autonomous Organization model.
The DAO model allows 1inch users to be more involved in shaping up the future direction 1inch, giving investors a significant level of control that isn’t available on other platforms.
1inch was launched in 2020 and has since realized impressive gains. It serves as the utility token for the 1inch platform, and holders use it to vote within the DAO model.
The liquidity pools created by the aggregation model ensure that 1inch stays ahead of other regular DEX platforms indicating that the future is bright, and investors are beginning to consider it as a good investment.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|1INCH||$ 0.964812||$ 402.09 M||4.06%||415.08 M||$ 48.84 M|
1inch price history and technical analysis
To make a precise prediction of the future price of 1inch, we have to combine information garnered from price history and technical analysis of the trend lines.
Since the listing of 1inch in August 2020, the coin’s value has depreciated and appreciated over time based on the overall market sentiment.
Upon introduction in August 2020, the 1inch token plummeted to an all-time low of $ $0.767785 in December 2020. Since then, 1inch price had undergone a rollercoaster through its bullish trend until May 2021, when 1inch recorded an all-time high price of $7.84.
The current market price of 1inch at the time of this writing is $3.21, indicating a price change of -59% from the all-time high price recorded four months ago. Today, the overall market sentiment is bullish, and most crypto users assume that 1inch, alongside other cryptocurrencies, will record positive growth in the next four years and beyond.
The demand for the 1inch token has been growing over the past months due to the increased adoption of the Automated Market Maker technology. DEXs aggregators are powerful concepts within the DeFi space, and 1inch is at the forefront of it.
Pros and cons of investing in 1inch
Investing in 1inch is suitable for speculative investors who are passionate about decentralized finance and the concept of DEX aggregators. Ideally, 1inch provides more affordable deals for token swapping due to its liquidity pooling technique.
The technique allows 1inch to offer users unbeatable prices that any other DEX platform cannot provide.
What does this mean for interested investors?
Cryptocurrency enthusiasts interested in DeFi can take advantage of the low token prices at the moment. Early adoption allows for positive growth within portfolios.
However, crypto investing is a technical area, and it’s prudent for users to consider the pros and cons of investing in a particular token. Below are some merits and demerits of the 1inch token for interested parties.
Pros of investing in 1inch
- Provides an early investment opportunity for massive gains.
- Explores a new concept in DeFi with huge potential.
- Value addition from the mainstream DEX platforms like Pancakeswap and Uniswap.
- Uses the DAO, which inspires more trust and transparency for investors.
Cons of investing in 1inch
It’s a relatively new project; therefore, higher risks.
A slow growth rate for short-term users.
1inch Price Prediction by Authority Sites
One trading analysis: 1INCH broke through the global trend line but failed to break out of the trading range. While bitcoin and the entire market are in limbo, two potential scenarios are worth highlighting. The first and most optimistic scenario is for the price to return to the upper boundary of the trading range, squeeze, and breakout. This would likely signal the start of a new uptrend.
According to Wallet Investor, 1inch is a lousy venture for the long term stating one year. Based on their data, the native token for 1inch is likely to drop in value over the coming crypto cycles.
Although 1nch may be a worthwhile investment for crypto traders due to daily price changes, it may be difficult for long-term holders to make significant gains off 1inch.
Based on their data, 1inch coin price will close in 2021 with an average price of $ 2.700. Consequently, the maximum and minimum levels of 1inch price will be $4.385 and $ 1.022.
Although the price predictions are modest, they fall in the same range as many forecasts have mentioned.
Based on the analysis recorded by TradingBeasts, the expected token price by the end of 2022 will be $6.31498, which is an average of the highest and lowest expected prices across major crypto exchanges. 1inch circulating supply has been increasing over the past months. In 2023, the 1inch forecast price is expected to be $8.51883 by the end of the year. The stated price is an average since the minimum trading price expected is $7.24101 and a maximum value of $10.64854.
Cryptopolitan’s verdict on 1inch
The good news is that the coin is almost at its final stage of the descending channel, and might start an ascension any time from now. If you are on the lookout for a worthwhile price dip across the cryptocurrency market, then this one’s for you. The long-term perspective, according to an analysis by Cryptopolitan is that the price of the 1inch will hit $10 by the start of 2023. But as of now, we can only observe a Bitcoin sync market, that’s dropping as BTC price drops.
Cryptopoltian is taking a clear stand with the 1inch price prediction of the governance and utility token based on fundamental analysis. We advise that the future of 1inch is unstable, and the future of 1inch is unknown. It may offer good opportunities to those who desire to trade with it due to its price rise and fall.
On the other hand, long-term investors may also be exposed to so many risks. The current market capitalization of 1inch is $579,959,211, placing it number #145 on Coingecko.
The cryptocurrency market cap indicates that there has not been a massive adoption of the technology and making long-term bets for the coin is not great financial advice.
The DeFi sector is expected to grow with platforms that reduce transaction fees, and 1inch alongside similar coins will record positive 24-hour trading volume changes. At the same time, the coins’ price will increase over time due to the mass adoption of the DeFi and DEXs.
DigitalCoinPrice thinks that 1INCH could be worth an average of $3.19 in 2022 which is safe speculation until 2023 when the market stabilizes and more use cases are found.
In 2024, blockchain technology is expected to expand, and the 1inch price will rise to $8.53054 minimum value. The maximum price will be $12.54491 by December 2024, with an average trading price of $10.03593.
Although this is quite unclear, the trends always show a steady increase in price over a longer time frame. Considering 1inch price prediction 2021 through to 2024, it is highly likely that 1inh can be worth $15 or more.
Five years later is a long time to consider; however, keeping several variables constant, 1inch can be valued at $20 and above.
By 2035, if 1inch survives the turmoil, it will be a strong cryptocurrency within most exchanges. Therefore, it is highly likely that the trading volumes will increase, sparking a price increase. It can be worth $35 or more.
Where to buy 1inch crypto
Since it is a DeFi coin, you can also buy it on DeFi platforms such as Uniswap.
A speculative investment is risky, and anyone looking to make such investments should invest only after conducting their research. 1inch is a Decentralized exchange aggregator that provides immense possibilities for investors to make money off new projects and technologies in the DeFi sector. The same way people invested in Bitcoin when the Bitcoin price was $100 in fiat currencies.
Making money is a daunting task within the crypto markets, where prices rise and fall continuously on the exchange platforms. Before you make investment decisions to trade or hold 1inch, consider determinants such as market cap, referral reward, market cycles, governance reward, and how they perform liquidity mining.
FAQs about 1inch
Is 1inch a safe investment in 2022?
Nearly all investments come with a certain level of risk. A trader who chooses to trade CFDs is exposed to similar threats as one trading 1inch. Most people look for investments with either low or high stakes. 1inch can be considered high-risk in the crypto world since it is a relatively new DeFi project.
What are the risks of investing in 1inch?
There are several risks involved that cut across all cryptocurrencies. Volatility is a significant factor in crypto. The constant fluctuation in prices may result in losses for impatient investors. Since the project is new, we cannot entirely rule out the possibility of the coin plummeting to zero in case things go wrong.
Should I invest in 1inch?
The answer to this question is highly dependent on the risk appetite. For investors willing to take high risks for potentially higher returns, 1inch may be an excellent investment.
However, for risk-averse individuals, 1inch is not a promising cryptocurrency to invest in at this time, according to the USD predictions made.
Is 1inch profitable for short-term investors?
Short-term investors may find it hard to profit from their investments on 1inch. However, this depends on what the investor does. A holding investor may lose money holding on to 1inch for a few months before cashing out.
However, day readers, scalpers, and short-term traders may be able to make profits while trading 1inch pairs.
Should I buy and hold 1inch for the long term?
As earlier stated, the future of any cryptocurrency is unknown, and 1inch is among the new cryptocurrency projects focused on the DeFi sector.
It is challenging to determine its future with certainty; however, long-term investors who are not willing to take such risks are better off staying away from 1inch coin.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and consultation with a qualified professional before making any decisions.