If you have bought traditional stocks from a brokerage firm, you never had to think whether you should buy them from the New York Stock Exchange (NYSE), the NASDAQ, or somewhere else.
Crypto trading is different. You are buying directly from a crypto exchange and your options are limited by the liquidity of that exchange.
This will start to become significant especially when you are trading with decentralized exchanges (DEX). This is where the 1inch Network platform comes into the picture.
1inch Network acts as an aggregator of hundreds of DEXs across multiple networks. This will allow the users to get the best rates available in DEXs with substantially more liquidity.
The ecosystem is governed by the 1inch NetworkDAO community and is powered by its native utility token by the same name.
This article will talk about everything you need to know about the 1inch Network platform and its gas token.
I will discuss the major features of the platform, the economics of the token, and its price forecast. In the end, I will also tell you where and how you can buy them.
1inch Network Key Features
| practically Unlimited Liquidity | 1inch Network derives liquidity from various DEXs to provide the best swap rates for users. The platform analyzes thousands of quotes and fees and provides competitive trading options. |
| Fusion Mode | The Fusion upgrade uses the 1inch Network swap engine which makes swaps on 1inch Network more efficient and secure. |
| Limit Order Protocol | 1inch Network offers innovative and flexible limit order functionality within the DeFi ecosystem. |
| Automated Market Maker (AMM) | The platform uses a sophisticated AMM mechanism that optimizes capital efficiency for liquidity providers. |
| 1inch Network Portfolio | This is a built-in tracking tool for accurate and detailed crypto portfolio information. |
| Security and Compliance | 1inch Network collaborates with TRM Labs, Blockaid, and Blowfish for top-notch security. |
1inch Network (1INCH) Tokenomics
1INCH token is an ERC-20 token, meaning that it is built on Ethereum and does not have a mainnet of its own. 1INCH serves as both the utility and governance token of the 1inch Network platform.
The total supply of 1INCH is capped at 1.5 billion tokens, with 1,129,420,827 tokens in existing circulation.
1inch Network (1INCH) Past Performance
In December 2020, 1INCH started trading at $1.60. Thanks to the 2021 crypto bull run, the token gained traction immediately and hit an all-time high of $7.87 in May 2021.
However, by early 2022, prices dipped below the launch price and continued to go downhill. Until it started to regain momentum starting from the last quarter of 2023.
Currently, 1INCH is traded for $0.53, which is 2% up from yesterday’s prices. With a 24-hour trading volume of $70 million, the market capitalization stands at $603 million.
1inch Network (1INCH) Price Prediction 2024
Our team’s technical analysis suggests that 2024 1INCH will be traded between $0.64 and $0.79. The average price is forecasted at around $0.66. If the token reaches the upper price target, that will yield the investor a return of 50.9%.
1inch Network (1INCH) Price Prediction 2025
Technical indicators suggest that in 2025, the price of the 1inch Network token will fall between $0.91 on the low end and $1.11 on the high end, averaging at around $0.94 in the year. Compared to today’s price, this will translate into a good 111.2 return on investment.
1inch Network (1INCH) Price Prediction 2030
Our quantitative analysts estimate that, in 2030, the price of 1INCH will fall between $5.50 and $6.74. Its average price is forecasted to be $5.70 in the year. If the token hits the upper price cap, that will give an 1182.3% return compared to today’s prices.
Where to Buy 1inch Network (1INCH)?
Though this is a DEX aggregator, you can buy the 1INCH tokens from most of the popular CEXs and DEXs. Here are a few options.
How to Buy 1inch Network (1INCH)?
- Visit the Uniswap website and connect to a compatible wallet like MetaMask.
- Connect your wallet to the Ethereum network.
- On the Uniswap interface, navigate to the trade page and type ‘1INCH’ in the search bar.
- Choose the desired trading pair, 1INCH/ETH, for instance.
- Choose ‘limit order’ and click ‘buy’.
- Enter the amount of ETH or USDT you want to spend on 1INCH.
- Click ‘buy 1INCH’ followed by ‘confirm swap’.
- Your 1INCH tokens will be delivered to your Metamask wallet.
Conclusion
Amidst all the confusion with plenty of options to choose from among DEXs and their limited liquidity, 1INCH positions itself in a win-win situation.
The platform offers some handy tools for the investor and hence, has created a stir in the crypto space. Though the token has lost its way after 2021, it is now showing signs of recovering in the context of the ongoing crypto bull run. Our experts are bullish about 1INCH in the long term.
All being said, it is vital to note that crypto assets are highly susceptible to market fluctuations, and investing in such assets without sufficient understanding can wipe out one’s fortune. The reader is encouraged to do their research before putting their money into such risky asset classes.
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