Will 1INCH cross US$10 by end of 2021?

October 21, 2021 02:36 AM AEDT | By Manu Shankar

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Will 1INCH cross US$10 by end of 2021? — Image source: eamesBot, Shutterstock

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Highlights

The 1inch Network is a decentralised exchange (DEX) aggregator, which offers a solution by connecting several DEXes into one platform.

The 1inch Network's first protocol with its next-generation automated market maker (AMM) protects the users from attacks.

According to CoinMarketCap, the 1INCH was trading at US $3.76 with a 24-hour trading volume of US $450,059,337.

The 1inch Network is a decentralised exchange (DEX) aggregator, which offers solutions by connecting several exchanges into one platform, allowing users to find the most efficient swapping routes across all platforms. Users have to flip through multiple DEX exchanges for efficiently swapping.

1inch Exchange was founded by Russian developers Sergej Kunz and Anton Bukov in May 2019. The 1inch Network's first protocol with its next-generation automated market maker (AMM) protects the users from attacks and provides opportunities to liquidity providers. The protocol offers features such as dynamic pricing, conditional orders, and a dynamic wallet mechanism, which can be utilised to store, stake, and for transactions.

Also read: Polylastic (POLX) crypto: Is it the right time to invest?

Why is 1inch Network so Unique?

1inch is non-custodial. The users can use the wallet to transact using the layer-2 networks. The transactions are well audited through leading firms such as Certik, Hacken, MixBytes etc. For liquidity, the users can access multiple sources on Ethereum, Binance Smart Chain, Polygon protocols to fetch attractive prices for transactions.

Also read: Watch out for these 4 highly anticipated Bitcoin ETFs

Is it a good investment?

1INCH is ranked 118 on CoinMarketCap. According to CoinMarketCap, the 1INCH was trading at US $3.76 with a 24-hour trading volume of US $450,059,337. At the time of writing (BST 2:00 pm), CKB was up by 5.62% in the last 24 hours. 1INCH currently has a live market cap of US $677,541,976 with a circulating supply of 180,362,122 1INCH coins.

According to market experts, 1INCH is one of the profitable investments that promise to offer good rewards in the near future. Many predict, given its bullish run, it has an excellent potential to cross well over US $10 by the end of this year, and in 2022, it is expected to further consolidate into a strong coin.

Conclusion

For market participants who constantly look out for ways to save money on trades, 1INCH is an ideal solution. By taking advantage of the arbitrage opportunities, the 1INCH can offer the users price for token swaps at a minimal slippage rate. All in all, it does come across as a solid token to invest in, which holds the potential to grow over a period of time.

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