Why is 1inch Network (1INCH) crypto gaining attention?

July 08, 2022 08:14 AM PDT | By Rupam Roy

Why is 1inch Network (1INCH) crypto gaining attention? — Image source: © Alexanderushkevich | Megapixl.com

What is 1inch Network (1INCH) crypto?

The network provides fast-paced, protected operations for decentralized finance (DeFi) activities.

Its liquidity protocol, a next-gen automated market maker (AMM), protects users from front-running attacks and provides liquidity providers opportunities.

The protocol focuses on flexible limit order swap opportunities in decentralized finance. It also offers dynamic pricing, conditional orders, auctions, etc.

1INCH, launched in December 2020, is the native token of the platform. It trades on crypto exchanges like Binance, Huobi Global, Coinbase, etc.

On July 7, Kyber Network announced that 1inch had completed its integration of KyberswapElastic on seven chains - Ethereum, BNB Chain, Polygon-Matic, Optimism, Arbitrum, Avalanche (AVAX), and Fantom Foundation. With this integration, 1inch could take advantage of the competitive rates of the newly launched liquidity protocol.

1inch Network crypto price and performance Source: CoinMarketCap.com

Bottom line:

THe 1INCH token was priced at US$0.6822 at 9:58 am ET on July 8, up 9.05%, while its volume for the last 24 hours skyrocketed 329.22% to US$110.51 million. It has a market cap of US$381.27 million, and its fully-diluted market cap is more than US$1.02 billion.

The token has a total supply of 1.5 billion, and its current circulating supply is over 558.87 million. It returned gains of 3.38% in the last seven days.

The token saw the highest price of US$0.8223 and the lowest price of US$0.5178 in the last 30 days.

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