Is 1Inch a good buy? Should you be buying 1Inch in 2022, and where can you buy the DeFi token?
Well, the majority of crypto market players reckon that 1Inch has all the hallmarks of a good buy. It, for starters, is the native token for a DEX aggregation protocol with clear long-term goals and a growing use case - both of which make it a good long-term buy. Additionally, it has proven to be a rather resilient altcoin seeing it has withered one of the most drastic crashes in the history of crypto markets.
Moving forward, 1Inch token prices are expected to continue rising, and most analysts are confident the DeFi token prices will reach and possibly break above $100 before the turn of the decade.
Technical analysis by CryptocurrencyPricePrediction, for instance, indicates that the altcoin will resume its early 2021 rally by the end of 2022 and sustain that uptrend for the next few years before it eventually tops $95 in December 2030.
Furthermore, the majority of forecasters - from crypto expert views, technical analysis reports, and even market sentiments - are all hugely bullish when it comes to the altcoin’s price action. Most are confident that 1Inch will rebound and rise above its current all-time high before December 2025.
But does this mean you should be buying 1Inch today?
So, Should You Buy 1inch (1Inch)?
The decision to buy 1Inch, and virtually any investment, should be informed by more than the altcoin’s popularity and FOMO. We advise that you take time to vet the altcoin thoroughly, checking such factors as the sustainability of its mission, the altcoin’s potential use case, and just how high its token price can reach.
Speaking of how high 1Inch can reach, we have already mentioned that most forecasting metrics expect the DeFi token prices to continue rising for the next few years. This adds to the reasons why you should be buying 1Inch tokens today.
You also need to consider the fact that even the most conservative crypto experts like the gurus from Economy Watch and Captain Altcoin argue that the DeFi token prices will continue rising in the foreseeable future.
At Economy Watch, they expect 1Inch to end 2025 trading above $10 and to continue rising to reach 2030, selling for $18. Analysts at Captain Altcoin, on the other hand, argue that 1Inch could grow by as much as 831% to reach $14.9 in 2025, add 1668% to reach $28.30 in 2030, and aim for $100 in the long run.
When you also consider technical analysts like the PricePrediction.net, whose bullish view of the 1Inch’s future price action indicates that it could add more than 6150% to reach $100 in 2030, you understand the impact that getting in this early while 1Inch token prices are selling for cheap could have on your investments.
Why Is 1inch (1Inch) So Popular Right Now?
1Inch has been featured by multiple crypto-focused online media and reputed crypto analysts who are either reviewing the 1Inch network or predicting its future price action. You may also have seen press releases about its funding rounds or read commentaries about its innovative DEX aggregation protocol. Here are key reasons why it has been receiving such popularity:
- The 1Inch network: There is an anticipatory mood in the crypto-verse where everyone expects the DeFi and crypto dApp niches to explode any time. Everything that adds spice to these niches has been receiving wild attention from the crypto community. 1Inch network has particularly attracted a lot of interest because of its multifaceted approach to DEX services, especially how it weaves the highly innovative DEX aggregation protocol and liquid provision services together.
- Hype from crypto experts: Crypto experts like ‘GUY’ from coin bureau have already described 1Inch as “DeFi’s next hidden gem” or “DeFI’s next best altcoin.” Other analysts and reviewers with massive followings have used similar terms to describe the altcoin, which has brought it to the attention of their millions of followers across different social media platforms. This has, in turn, sparked a lot of investor interest - bordering FOMO - in the DeFi token and helped it grow its community.
- Massive potential for growth: We already mentioned that a significant number of forecasters expect 1Inch to punch above $100 in the next 10 years. Others are confident that it will eventually reach $500. The promise of such massive gains combined with the increased expert attention on the coin and its stellar performance in the first half of 2021 has helped fuel FOMO, and now everyone wants in on the DeFi token’s next price rally.
1inch (1Inch) Price History 2020 To 2022
Though the idea of developing a DEX aggregating protocol was conceived in 2019, 1Inch launched on 25th December 2020. It had an introductory price of $1.9 and quickly rose to $2.6 before falling as quickly and dropping below $0.7 five days after launch.
The crypto market rally that was picking pace at the time would, however, resuscitate the DeFi token prices and help it march into 2021, selling for $1.3 - according to data from CoinMarketCap. It caught up with the rest of the industry in the last week of January when it broke into a wild run that culminated with the current 1Inch peak price of $7.87 on 8th May 2021.
This far, you can tell that 1Inch token prices are hugely correlated to the overall market performance. So, when the market crashed on news of China banning cryptocurrencies in mid-May, 1Inch’s price tower came tumbling, and by the last week of June, it was trading below $2.
Throughout the last quarter of 2021, 1Inch - and the larger crypto market - has been struggling with recovery, settling between $3.4 and $4.8 in November 2021. 1inch wasn't spared in the December market meltdown and has since been trading around $1.6.
Now everyone wants to know if it can rebound and reach $10 in the next 12 months.
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Will 1inch (1Inch) Reach $10 In 2022?
The majority of crypto analysts do not believe that 1Inch can reach $10 before December 2022. Granted, most are confident that its prices will sustain the current slow uptrend for the next few years, but they don’t believe there is enough buying force in the market to grow 1Inch by the close to 300% needed to get it to $10 in the next 12 months.
The only forecaster who is confident that 1Inch can reach $10 in the next few months is CryptocurrencyPricePrediction, whose analysis indicates the DeFi token will trade above $7 by the end of the year.
The rest, including some relatively optimistic technical analysts like ICOCreed, Trading beasts, and DigitalCoinPrice, can only see the altcoin recovering fully, rising above its current ATH and reaching $10 in 2024.
If you have come this far, you have probably already made a decision to invest in 1Inch. But just where can you the DeFi token, and what is the buying process?
How To Buy 1inch (1Inch) On eToro?
We recommend buying 1Inch and all your popular cryptocurrencies on eToro because of its beginner friendliness, straightforward buy process, and the fact that they provide you with a free digital wallet (both custodial and mobile app). Here is the simple step-by-step process on how to go about it:
Step 1: Start by creating a user account with eToro crypto exchange and verifying your identity.
Step 2: Log in to your approved crypto trader account and deposit cash. The minimum deposit is $200 ($50 for US residents).
Step 3: On the user dashboard, click on the “Discover” tab, choose “Crypto,” and from the list of supported digital currencies, choose to buy 1Inch.
Step 4: On the buy tab that pops up, enter the amount of cash you wish to spend on the 1Inch trade. The minimum trade limit is $25.
Step 5: Click on the “Open Trade” tab to authorize the purchase.
That is it. You now are a 1Inch investor. The purchased coins will be deposited into the exchange wallet, but you are free to move them to the eToro mobile wallet from whence you can transfer them to other exchanges and third-party wallets.
Check Out: The 5 Best Ways To Buy 1inch (1INCH)
Conclusion: Should You Buy 1inch (1Inch)?
1Inch has given the crypto community more than one reason to invest in the DeFi token ranging from the fact that it has massive potential for future growth, its resilience, and that it is the native token for an equally potent underlying DEX technology. These make it a good long-term investment, which in turn, makes it a good buy in 2022. Not to mention that the majority of experts are confident that it will reach $100 within the next 10 years. Before buying your first 1Inch token or stacking your portfolio further, we advise that you carry out your own research or consult your financial planner.
eToro – Best Platform To Buy 1Inch
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
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