1inch price - Pwim.Net

1INCH Sets New All-Time High as Token Launches on Coinbase Pro

With the popularity of decentralized finance, many projects have emerged in the DeFi market. 1INCH token stands out among them.

1inch (1INCH) is a token issued by the decentralized exchange platform 1inch. The token aims to provide the most affordable swapping routes by comparing different exchange options across all leading decentralized exchanges (DEXes).

On 1inch decentralized exchange, users can trade tokens without intermediaries.

1INCH previously announced that others have migrated to the Binance Smart Chain (BSC) network to take advantage of throughput and low transaction fees. This new migration is bullish, as new projects on BSC have generated positive sentiments from the Binance community.

On April 8, the top US cryptocurrency exchange Coinbase announced that 1INCH will be made available for trading on Coinbase Pro accounts.

All Coinbase-supported jurisdictions will provide support for 1INCH, with the exception of New York. If liquidity conditions are met, trading will start on or after 9 a.m. Pacific Time (PT) April 9. Currently, the token is not yet available for trade on Coinbase.com or Coinbase’s mobile apps.

Being included in the Coinbase Pro list will undoubtedly have a positive effect on 1INCH. The token has performed very strongly in the past 7 days, increasing by 35.99%.

Just yesterday, the 1INCH’s price broke its previous high of $6.56 and set a new all-time high of $6.62.

1inch (1INCH) Price Analysis

Source:1INCH/USD Daily via TradingView

1INCH slightly exceeded its previous high of yesterday, setting a new all-time high of $6.62.

However, the bulls did not seem to be able to sustain the breakout. After experiencing yesterday’s surge, 1INCH is currently undergoing a callback. At the time of writing, 1INCH/USD is trading at $6.02.

1INCH is still in an ascending channel, as the ascent of the moving average and the bullish MACD index show that the bulls are firmly in control.

But it is worth noting that the stochastic RSI has been glued in the oversold zone, meaning a bearish crossover may potentially drag 1INCH’s price downward in the near term. If the bulls manage to flip the $6.56 to a support level, then the 1INCH/USD currency pair may start the next phase of an uptrend, targeting the $8.00 level.

If the bears pull the price back below $5.05 support, such a move will indicate the possibility of a horizontal price movement for 1INCH in the short term.

1inch Launches Wallet on Apple iOS App Store

1inch, a decentralized exchange aggregator operating on both Ethereum and Binance Smart Chain (BSC), launched its wallet for iPhone users on Apple iOS on Tuesday.

The operation of this wallet will make it easy for users to exchange tokens on their mobile devices with the convenience of portability. The wallet will enable users to switch between BSC and Ethereum at a real-time lower transaction rate for digital currency exchange.

Not only on the mobile phone, but users can also approve and confirm transactions on Apple Watch. The application will also encrypt Apple iCloud backups, allowing users to migrate between different devices.

1inch itself ranks as the 7th largest Decentralized Exchange (DEX), with a total locked value of $311.7 billion based on DeFi Pulse data.

According to Debank,1inch has a 24-hour trading volume of $232,805,465 on the Ethereum chain and $100,320,794 on Binance Smart Chain (BSC).

1inch(1INCH) Price Analysis

Source:1INCH/USDT Daily via TradingView

Judging from the daily candlesticks chart, 1inch (1INCH) gradually showed a double top pattern (also known as the “M” pattern) after late March. 1INCH formed the first peak at $6.67 on April 9, accompanied by a rapid increase in trading volume. Subsequently, the price dropped by about 20% to $5.26. The currency rebounded after and rose to $6.65 on April 18, but the trading volume contracted slightly from the first peak. Then it fell below the support of the neckline of around $5.50 drawn on the above chart.

Currently, 1inch’s price has rebounded and the bulls are trying their best to push prices above the 20-Exponential Moving Average. At the time of writing, 1inch is trading at $5.01.

The stochastic RSI has stepped out of the oversold zone, meaning a bullish crossover may potentially drag 1INCH’s price upward in the near term. The MACD index also gradually slows down, which indicates that it may form a bullish “golden cross” near the zero axes.

However, after 1INCH has formed a double top pattern, it will encounter strong resistance from the neckline of $5.50 on its way up. It is worth noting that the main force often creates false breakthroughs without expanding trading volume.

Therefore, it is recommended that investors buy when there is a rudimentary bottom pattern on the right side with increasing trading volume, or buy when the neckline is broken and the retraction is confirmed. Retraction confirmation means that after the crypto price develops in a certain direction and breaks through the neckline, the crypto price will return to the neckline within a few days to test whether the breakthrough is successful.

If the bulls manage to flip the $5.50 to a support level, then the 1INCH/USDT currency pair may start the next upward trend, targeting its all-time high of $6.67 level.

If the bears pull the price back below $5.50 support, such a move will indicate the possibility of expanding the decline for 1INCH in the short term.

The decline of 1inch is very likely to exceed 20%.

Everything You Need to Know about 1inch

1inch is a decentralized exchange (DEX) aggregator built on Ethereum. It is a type of liquidity protocol specialized with providing customers with the most favourable and most convenient transaction route by automatically aggregating offers from other decentralized exchanges.

Due to the different structures of various decentralized exchanges such as Uniswap, Aave, etc., the selling price of the same digital currency is slightly different on different exchanges.

Therefore, 1inch will also send transactions to different decentralized trading platforms to achieve the purpose of significantly saving costs and reducing transaction slippage.

Among the transaction platforms supported by 1inch are Uniswap, Kyber, Aave, Curve.fi, Airswap, mStable, Balancer, dForce Swap, 0x API, and 1inch’s very own- Mooniswap.

1inch Liquidity Protocol V2 version

The V2 version of the 1inch Liquidity Protocol uses a mechanism that increases with price slippage to ensure that liquidity providers and 1INCH token pledgers obtain higher returns through volatility.

It contains the 1inch Pathfinder algorithm. The algorithm acts as a bridge to split an exchange transaction by effectively using the many “market depths” in the same protocol.

“Market Depth” is an important indicator of the supply and demand relationship of cryptocurrencies based on the number of publicly-traded orders.

The V2 version of the 1inch Liquidity Protocol fully shortens the response time and helps users process transactions more efficiently.

Source: Dune Analytics

According to the data of Dune Analytics, it can be seen that 1inch’s transaction volume has surged after the end of 2020, mainly due to the arrival of the main updated version of its platform “V2”. 1inch’s V2 platform adds some more complex transactions to the original basis to keep prices low, such as rescheduling funds dedicated to loan collateral for the decentralized lending protocols Aave and Compound.

Source: Dune Analytics

Although the monthly new/old users ratio has been reduced, it remains at greater than 1, implying that the number of new users of 1Inch is increasing at a gradually decreasing rate. But we believe that if V3 appears in the near future, by incorporating more Decentralized Finance (DeFi) protocols, upgrading algorithms, and making transactions cheaper. It will attract greater liquidity,

1inch Token:1INCH

The platform launched its crypto token 1INCH on Christmas 2020. The total circulation is 1.5 billion pieces. The main function of 1INCH tokens is the participation of governance, such as modifying transaction fees, recommendation rewards, and so on.

There are two types of governance: pool governance and factory governance. Users can use it to vote on the operation of the 1inch platform and achieve instant governance.

As of April 30, 2021, according to Coinmarketcap, the value of the token is $5.45 with a market capitalization of $850,539,232.54. Among the total supply of 1.5 billion, there are 156,671,623 1-inch tokens in circulation.

1inch is not only an aggregator but also has its own exchange Mooniswap. Therefore, governance can be divided into liquidity agreement governance and aggregation agreement governance.

1INCH Hits a New All-Time High

1inch, a decentralized exchange (DEX) aggregator, announced today that 1inch Network will aggregate liquidity of MDEX on Binance Smart Chain (BSC).

1inch is a type of liquidity protocol specialized in providing customers with the most favourable and most convenient transaction route by automatically aggregating offers from various decentralized exchanges.

MDEX is committed to building a Decentralized Finance (DeFi) platform integrating DEX, IMO, and DAO, providing one-stop liquidity services for more high-quality assets for users with safer, more reliable, diverse, and cost-effective trading experience.

1inch and its aggregation service Pathfinder provide users who need to exchange tokens with the best prices and finds the best trading path across multiple DEXs in less than a second.

1inch, which reached another milestone by surpassing $35 billion in total trading volume on the Ethereum network, released an official blog stating that the core of the 1inch aggregation protocol is the 1inch v3 smart contract, which is aimed at guaranteeing the security of transaction funds.

Version 3 of this aggregation agreement provides users with additional swap savings. Before the version update, the Uniswap v2 exchange was cheaper than 1inch, but now the situation has reversed. For example, swapping ETH to 1-inch DAI reduces gas fees by 10.3% compared to the same transaction on Uniswap and 4.9% less than 0x.

1inch (1INCH) Price Analysis

Source:1INCH/USDT Daily via TradingView

1inch soared by 33.12% within 24 hours. Today, it broke through the pressure line of the previous double top at $6.67, setting a record high of $7.48.

At the time of writing, 1inch is trading at $7.43.

In the previous analysis, we pointed out that 1INCH has formed a double top pattern and will encounter strong resistance from the neckline of $5.50, consolidating at this level. Retraction confirmation means that after the crypto price develops in a certain direction and breaks through the neckline, the crypto price will return to the neckline within a few days to test whether the breakthrough is successful.

Yesterday, the bulls pushed the price much higher than the neckline of $5.50, starting a strong upward surge. Today, the bulls continued the bullish momentum, breaking through the previous high of $6.67, and setting a new all-time high of $7.48.

The RSI index has bent upwards to the oversold zone, meaning a bullish momentum may potentially lead to 1inch’s price trending upward in the near term. The opening range of the MACD indicator is gradually increasing, which means that 1inch may continue to set new highs in the short term as it is undergoing price discovery.

If the bulls manage to flip the $6.67 to a support level, then the 1INCH/USDT currency pair may start the next upward trend, targeting $9.00.Conversely, if the bears pull the price back below $6.67 today, this will lead to the possibility of horizontal movements for a while.