Bitcoin's sharp correction below $ 50,000 has triggered a massive sale of DeFi tokens and Altcoins. Many investors are scared that this bearish inertia will continue and quickly exit the market to minimize losses.
One of the most affected tokens has been 1inch. It is already below $ 4 and it could be a good time to grab a handful of tokens.
1inch is a very important Exchange of the Ethereum Network, with the ability to Cross-Chain. It connects us with the most important DEXs, for example Uniswap and Sushiswap and allows us to exchange our tokens at the best possible price.
The white unicorn is not on a roll. It should be mentioned that the delays in its Airdrop have not liked the community and that the success of the Binance Smart Chain has not benefited them.
We must be careful with the FOMO in bear markets, that cryptocurrencies fall so much in price does not assure us that there will be an immediate rebound, we could be like that for months. Some tokens will not raise their heads for a long time so you have to study the play well.
Regarding 1inch, I highlight the resistance that it has found in the 5 dollars of price, even during the Alt Season it did not exceed it. Therefore, this could mean a total recession of the token or that in the next Bull Market it breaks that resistance and reaches 10 dollars.
Until July 2021, with the launch of EIP-1559, the fees of the Ethereum blockchain will not change. Yet another reason to distrust a price increase.