1inch price projections

Here's Why DEX Aggregator 1INCH Network has a Bright Future Ahead

By Coins Reporter | Coinsreporter | 26 Oct 2023


1inch DEX shows you the best trade option available for Cryptocurrency just like an air travel booking site aggregates prices and deals and shows the best option first.

Although 1inch Network is still in it's early stages, has a long way ahead. However there are already many players (like Uniswap, Pancakeswap, Bancor, Balancer, Curve etc.) in the DeFi market, yet the full potential of this niche is still to be realised. It will still need a lot of exploration until one of these become Google, Apple or Amazon of Decentralized Economy. 1inch definitely possess most of what is required it to be the leader of all. Let's explore:

 

What is 1inch Foundation? 


1inch Foundation, founded in 2020 by Sergei Kunj and Anton Bukov, is a non-profit organization dedicated to provide multiple DeFi services. It is the issuer of 1inch token and runs the whole 1 Inch network.

As specified on the official website 1inch.io, the foundation is focused on the following key aspects of interest.

1. Community building for maximizing decentralization and participation in DAO governence.

2. Grants for individuals and teams who contribute to the development of 1inch Network.

3. Farming Programmes with best rewards. 

In a nutshell we can say that 1inch Foundation is the upper body of 1inch Network, it's token, DEx and other products as well.

 

What is 1inch Network and what products does it offer?

Basically 1inch network is a DEx aggregator which remains it's key product as well. 1inch DEx allows users to swap tokens from the most efficient pools available across 100s of DExes. Users can choose a trade with the best price and lowest fees available. Some popular exchanges that 1inch has aggregated in it's protocol are Uniswap, Pancakeswap, quickswap, auroraswap, Bancor, Balancer and many more. 

There are two major products that 1inch offers:

1. DApp

2. A Decentralized Wallet

Benefits of Using 1inch

👉Best prices

👉Convenience

👉More options

👉Anonymity and Security

👉Limit Orders

👉Stop Loss Feature

Future of 1inch Token: Price Prediction

1inch price prediction

At the time of writing 1inch token is trading at $0.2881 which shows a growth of 7% within last 30 days. This is largely due to the bitcoin gaining momentum.

The future of 1inch token looks very promising and the innovation that it brings to the crypto world is matchless. Hence I am bullish for long term returns in the space of 1 year to 5 years. Let's figure out the reasons for me being bullish about 1inch.

At this time, there are about 949.8 million 1inch in circulation out of total 1.5 billion. The market cap is around $556 million. The ATH for this token is $8.65 and All time down is $0.2241. 

Considering it's all time high value which is 1500% more from current prices. Just take half of that In the next bull run and the prices will rise to $4.32. in 2024.

I personally expect 1inch to breach $1 mark in coming months leading to next halving of Bitcoin. $2 to $4 in 2024 and reaching an all time high or can even breach $10 mark in 2024.

Compare 1inch to Polkadot which has available and circulating supply both at 1.3 billion and its current price is $5.40. The rank of polkadot is 14 on coin market cap while 1inch is sitting at 117 on the market cap. 

1inch needs a bit more support from the crypto community to uptrend it's prices and it is worth noting that 1 Inch is here to stay. 

As it's the best time to invest, I would secure my portfolio with at least 10% of 1inch tokens.

Overall, 1inch Network is a project to keep an eye on. They've built a simple but innovative product, forged partnerships with major players, and have ambitious plans for future growth. While risks remain, 1inch could very well become a leading force in the decentralized finance movement. The potential is there for this dex aggregator to take us 1 inch closer to a new open financial system.

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Disclaimer: Nothing in this post should be regarded as investment advice. These are solely my personal views. Readers are advised to do their own research before making a financial investment.

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Coins Reporter
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Once a Bitcoiner and forever will be. Love to share my views even if they are unbelievable.


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