Is 1inch (1Inch) Worth Buying In 2023?

Last Updated January 5th 2023

8 Min Read

Wondering if 1Inch is worth buying in 2023? Use this investment guide to learn everything you need to know about investing in 1Inch.

1Inch has performed well in the last 12 months, and its value is expected to continue rising in the foreseeable future. These two are among the key factors that make the DeFi token worth buying today.

Moving forward, a lot of experts and analysts are confident that 1Inch token prices will continue rising. They believe that the 1Inch DEX aggregation technology has massive potential growth, which will, in turn, have a huge positive impact on 1Inch token prices.

Multiple forecasters have also been quick to express their confidence in the DeFi token’s future. For example, the updated technical analysis on 1Inch by CryptocurrencyPricePrediction indicates that the token prices will rise rapidly and reach $95 by the turn of the decade.

In this post, we will be exploring other factors that make 1Inch a must-buy in 2023 and explore what it will most likely be worth in the next few years. We will also tell you why it is popular today and why you, too, should consider adding it to your crypto portfolio.

But first, we need to get a better understanding of what 1Inch really is.

What Is 1inch (1Inch)?

1Inch is the native cryptocurrency for the Ethereum based 1Inch network. It is both a utility and governance token that, though it has been popularly adopted as a speculative investment asset, is at its core designed to facilitate transactions and vote on parameters impacting the 1Inch network.

Under 1Inch Network’s umbrella is a series of protocols, the most popular being the 1Inch decentralized exchange protocol. But unlike most other DEXs hosted on Ethereum, 1Inch stands out because of its aggregation protocol.

This implies that, unlike regular exchanges that link you to specific liquidity pools when you initiate a DEX transaction, 1Inch uses the Pathfinder algorithm to crawl 60+ liquidity sources on the Ethereum blockchain, 30+ sources on Binance Smart Chain, and 30+ sources on Polygon to match you with the fastest, most secure, and most affordable liquidity provider.

Other technologies under the 1Inch network include the 1Inch AMM Liquidity protocol, the 1Inch limit order protocol, and the 1Inch multichain mobile wallet. We mention these because they are all powered by the 1Inch token. Therefore, their popularity, adoption, and use cases play a pivotal role in influencing 1Inch token’s price action/direction.

Check Out: What Is 1inch? Should You Invest In 1INCH And Where To Buy It?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Why Is 1inch (1Inch) So Popular Today?

By the end of 2021 the altcoin was receiving a lot of publicity from popular crypto analysts on social media. It has been featured by several crypto-focused online media multiple times. So why is 1Inch this popular today:

Stellar past price action: 1Inch is popular because it has performed exemplarily well throughout 2021. It stormed into the year with a wild price rally that pushed its value up by more than 600% between January and May. And while it has taken a beating throughout the last half of 2021, it has proven to be a very resilient DeFi Token - which speaks of its massive future potential.
Appeal to traders and investors: It appeals to the speculative investment community, which currently plays the biggest role in determining the price direction of virtually every coin. Investors are drawn to 1Inch because of its prospect for future growth, and traders are attracted to its massive and frequent fluctuations.
Innovative technology: Granted, the 1Inch DEX aggregation protocol solves one of the DeFi ecosystem’s biggest challenges. As the crypto-verse transitions towards DeFi, it is apparent that every market player is actively seeking out better rates and secure transactions, which effectively draws them to 1Inch, effectively amplifying its importance and popularity.

Should I Buy 1inch (1Inch)?

Well, the decision to invest in a cryptocurrency should be informed by more than its popularity and positive price action today. We advise that you take time to orient yourself with the 1Inch token, understand how it works, determine if it aligns with your investment goals, and decide if you can stomach its volatility.

That said, though, we must appreciate that 1Inch has, through its wild rally in early 2021 and even faster recovery from the mid-year crash, been giving investors more reasons to buy the altcoin.

Price analysts at Captain Altcoin, for instance, are of the opinion that the 1Inch token can grow its value by more than 4525% in the next few years to reach $74 before eventually setting aim or a price above $100.

These bullish sentiments are shared across the crypto industry, with some cheery technical analysts indicating that 1Inch has all it needs to reach and rise above $100 before 2030.

Analysts at PricePrediction.Net, for instance, believe that the market will go into recovery and stimulate 1Inch price appreciation. They believe that 1Inch will rise above its current all-time high in 2024, reach $50 in 2029, and end the year 2030 selling for $107 - which presents relatively attractive profit margins for any HODLer.

The most optimistic 1Inch rice prediction is nevertheless provided by a technical analysis of the coin by CryptocurrencyPricePrediction. It suggests that 1Inch will recover and rise above its current ATH as early as January 2023 when it breaks above $8. It also suggests that 1Inch will help grow your investment by close to 1400% by mid-2025 when it reaches $24 and by more than 5837% by December 2030 when it gets to $95.

The potential for such massive growth is enticing enough to draw most investors into making an 1Inch investment. But is now the best time to buy 1Inch?

So, Is 1inch (1Inch) Worth Buying In 2023?

The general feeling is that 1Inch token prices will continue rising for the next few years, which makes DeFi token worth buying. Both crypto experts and technical analysts are in agreement that 1Inch will be worth much more in December 2023 than they are today and will most likely be ranging between $4 and $13.

Technical analysis and machine learning website Digital Coin Price, for instance, indicates that 1Inch will most likely be trading around $2.02 in December 2023.

Yet another technical analysis platform, ICOCreed, indicates that you will most likely grow your investment by close to 50% in 2023 if you buy 1Inch as they expect it to end the year selling above $5.

The most bullish case for buying 1Inch today and holding for the next 12 months is provided by analysis by CryptocurrencyPricePrediction. It indicates that the DeFi token will help you quadruple your investment in the next 12 months when it punches above $7.69 before the end of 2023.

Still, looking for more reasons why you should buy 1Inch in 2023? Here are a few.

Don't Miss: 1inch Price Predictions

Why Should You Buy 1inch (1Inch)?

Backed by a usable technology: It is clear that the 1Inch DEX aggregation protocol has massive potential for growth. As its adoption increases with the mainstreaming of the DeFi ecosystem, we expect the demand for 1Inch tokens to rise in tandem, effectively catapulting their price to unimaginable heights.
Earn doubly from staking: You may also consider investing in 1Inch because it presents you with an opportunity to double your gains. This is achieved when you stake the DeFi token and earn interest even as the value of the staked assets continues to appreciate.
Massive potential growth: There is no telling how high 1Inch token prices will get in the next few years. However, the majority of analysts are confident that it will grow your investment by close to 6150% when it reaches $100 before 2030. Yet, others are convinced that it could get to $500 over the longer term.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Risks Associated With 1inch (1Inch) Investment

What do you need to know before you invest in 1Inch DeFi token?

Volatility: You first need to appreciate that, like all other cryptocurrencies, 1Inch is a highly volatile digital asset. Its prices fluctuate regularly and at rather drastic rates - implying that it is not uncommon for the altcoin to shed a double-digit percentage off its value in a couple of hours. Only buy if you can stomach such drastic price moves.
Exposed to crypto fraud: Like any other cryptocurrency, 1Inch is not immune to such cybercriminal activity as hacking and crypto scams. Learn about these crimes and scams and how to avoid them before your buy your first 1Inch token.

Conclusion: Is 1inch (1Inch) Worth Buying?

Well, 1Inch token’s most pronounced features like its resilience, growing popularity/community, and potential for massive value gains in the future are all hallmarks of a good long-term investment. Most forecasters are also convinced that its value will possibly rise and break above $150 by the turn of the decade. All these make 1Inch worth buying today.

However, like virtually any other asset, a 1Inch investment carries its fair share of risks that include exposure to untamed volatility and crypto crime. When deciding whether 1Inch is worth buying, weigh both its pros and cons and determine if the reward for buying the DeFi token and trading it or hodling it for years outdo these potential risks.