DEX aggregator 1inch is currently the top trending coin on CoinMarketCap.com -right after Ethereum. 6%, the collecting platform for decentralized exchanges could rise in the last 24 hours. Is 1inch getting ready for a rally? At $ 2.80, 1inch is also currently 64% below its all – time high-the token therefore has massive upside potential if the bull run continues. We introduce the coin and say: What is 1inch? Why is 1inch special? How did the course develop? Could 1inch become as successful as the top exchanges Uniswap (UNI) and Sushiswap (SUSHI)? And: What are the 1INCH forecasts for 2021 to 2028?

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What is 1inch (1INCH)?

1inch is a network for decentralized protocols on Ethereum, BSC (Binance Smart Chain) and Polygon. According to the developers, 1inch offers “the most lucrative, fastest and most protected operations” in all decentralized finance (DeFi). In other words, 1inch is a DEX aggregator that compares the prices of all decentralized crypto exchanges and then automatically chooses the cheapest platform for a trade. In this way, users save fees and receive more coins for their money.

Normally, crypto investors would have to visit every single exchange to find the best price for a swap. With so-called DEX aggregators like 1inch, this is a thing of the past.

The 1inch network consists of various components, including:

  • The “1inch Aggregation Protocol”. It enables cost-effective and secure transactions. This is achieved by using a wide range of protocols. When a user interacts with 1inch, they use the aggregation protocol.
  • The 1inch Liquidity Protocol. This is a next-generation automatic market maker: it protects users from front-running attacks and provides capital efficiency to liquidity providers.
  • The 1inch DAO. The decentralized, autonomous organization manages the 1inch network. It allows 1inch stakers to vote on significant protocol parameters and participate in the management of the network.
  • The 1inch Labs: a decentralized group of software developers. It develops a set of open source protocols that are managed by users through the 1inch DAO.

Why is 1inch (1INCH) special?

1inch compares the offers on decentralized crypto exchanges and then automatically resorts to the one with the best conditions for a trade or swap. This is made possible by 1inch’s so-called Pathfinder API. It includes a discovery and routing algorithm that finds the best possible paths for a token swap and automatically splits a swap across many decentralized exchanges (DEX). The result: the swap rate is better than the one the user would have received with a single decentralized exchange.

At the end of April, 1inch also launched its own iOS app: 1inch Wallet. With the app, customers can perform mobile-optimized token swaps, trades and other transactions. In addition, the app offers features such as push notifications, an encrypted iCloud backup and support for so-called EIP-681 payment requests. This means: Users can pay with URLs. Staking and governance functions as well as liquidity pools are also planned. Here you can download the 1inch wallet directly from the Apple Appstore.

Who invented 1inch (1INCH)?

1inch was founded in 2019 by Sergei Kunz and Anton Bukov and went live in August 2020. Before 1inch, Kunz worked as a senior developer at the product price aggregator “Commerce Connector” and in the areas of DevOps and cyber security at Porsche. He was also project manager at the management consultancy Mimacom.

1inch CTO Bukov has been working in software development since 2002 and has been working in the field of decentralized finance (e.g. on the NEAR Protocol) since 2017.

The 1inch Foundation, on the other hand, is a non-profit organization that issued the 1INCH token. It is dedicated to the development of the 1inch ecosystem. The 1inch Foundation provides incentives for contributions through grants and other capital deployment opportunities.

1inch was able to raise $ 2.8 million in a funding round through Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures and Divergence Ventures prior to its launch. An additional $ 12 million was added in December 2020 through Series A financing led by Pantera Capital. Among them were ParaFi Capital, Blockchain Capital, Nima Capital and Spartan Group.

What is the 1inch token?

1inch is the native token of the 1inch ecosystem. It was introduced on Christmas Day 2020 and is used for so-called governance. This means: Holders of the coin can vote on how 1inch is operated. They have a say in changes and can thus have a say in development.

Users can earn 1inch tokens by providing liquidity on the platform. What is meant by: You stake your coins (they are “locked” so to speak, you can’t access them for a certain period of time), and meanwhile other people can use these coins for trades and swaps.

1inch Price Forecasts 2021 – 2028

Currently (time of this article), the 1inch price is in a slight upswing: within the last 7 days, 1inch has Coinmarketcap.com almost 25 percent moved up. In addition, within 24 hours, the DEX aggregator was able to rise almost 5% and is now trading at $ 2.80. The current 1inch price is thus more than 64% below its previous all-time high of $ 7.87, which was reached on May 8.

1inch-5-day course. Source: Tradingview.com

Technical analyst @CryptoTony_ is bullish on 1inch. He writes to his more than 88,000 Twitter followers: 1inch is one of his altcoin favorites.

Guy, the pseudonymous host of the Youtube channel Coin Bureau, is bullish on 1inch and speculates if 1inch will become the next DeFi hit:

The popular crypto strategist @CryptoWizardd also expects 1inch to achieve lasting success. He considers short-and medium-term price developments irrelevant – 1inch is one of his long-term investments, he tells his 212,000 followers.

  • CoinCodex.com is generally neutral on 1inch: 16 technical analysis indicators signal bullish signals, compared to 9 bearish signals.
  • Surprisingly bearish is Gov. Capital’s 1inch forecast. The forecast sees 1inch initially rise to $ 3.26 within the next 12 months. Then, however, the DEX aggregator breaks down and crashes in the 5-year forecast with 2,25 dollars even below its current price.
  • WalletInvestor.com describes 1inch as an “acceptable” 1-year investment. The forecast is accordingly cautious: the 1inch 1-year forecast initially predicts an increase to $ 3.01. Also in the following years, the course is developing leisurely: by 2026, an increase to 5,10 dollars is predicted for 1inch. A 5-year investment is expected to yield around 81.91%. An investment of 100 dollars would therefore be worth 181.91 dollars in 2026.
  • DigitalCoinPrice.com predicts the following development at 1inch: by the end of 2021, the price will initially rise to $ 4.30. Only 2023 will be an interesting year for 1inch: here the course breaks first the 5-dollar mark, then the 6-dollar mark. Until the end of 2028 says DigitalCoinPrice.com finally, a 1inch rate of $ 12.29 ahead. This represents an increase of 338% based on current prices.
1inch price development until 2028. Source: Digitalcoinprice.com

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Last updated on August 10, 2021

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