Why 1inch Will Skyrocket

Learn why the DEX aggregator 1inch could rise tremendously in 2022 and beyond  

Last Updated February 3rd 2022
7 Min Read

2021 has been a prolific year for the decentralized finance industry (DeFi). There was a growing influx of funds with numerous innovative and exciting business and technological developments. DEX or decentralized exchange is one example of this and has gained massive popularity over the years.

An advanced DEX aggregator platform whose native token has been on a significant rally lately is 1inch. Investors are interested to know why 1inch is going to skyrocket in 2022 and beyond. 

The platform offers liquidity from multiple exchanges and includes smart contracting technologies to maximize trading. The goal of 1inch is to offer its customers the best deals by finding the most effective DEX service provider exchange routes. There are several reasons why 1inch has started gaining popularity lately. Let’s see some of them. 

Why Invest In 1Inch Now?

1inch seems to be a potential cryptocurrency network that offers the most lucrative, fastest, and protected operations in DeFi.

1inch, a dominant decentralized exchange aggregator platform, combines multiple DEXs into a single platform and provides users seamless access to find efficient swapping routes. As a result, the crypto has positioned itself as a data aggregator of DEXs. With its advanced technology, the network can provide the best swap prices from multiple crypto exchanges instantly. Therefore it also helps users save their time and funds by gaining easy access to the best DEXs that offer the lowest price. 

One of the most significant factors that push the network's growth and popularity is the price of the 1INCH token. With speed and affordability that offer quick implementation improvements, users can enjoy faster and secure transactions. 

Yet another reason why 1inch is going to skyrocket is its vision to become the single entry point for DeFi. As a step forward to their goal, the team has expanded its product suite to include a next-generation AMM protocol and native token. Moreover, yield farming and lending protocols are also in the pipeline. 

Is 1INCH Going To Skyrocket In 2022?

With the continuous rise of DeFi, 1inch has gained phenomenal significance, making it a good buy now. 

1inch claims to offer access to over 50 liquidity sources on Ethereum, Binance Smart Chain, and 8 on Polygon, as of June 2021. Some of the prominent DEXs that it draws on are Uniswap, 0x, and Balancer, and 1inch’s own liquidity protocol, formerly known as Mooniswap.

1inch’s innovative governance model helps it stand out from its competitors. DeFi protocols often lack a governance model efficient enough to adapt to the fast-moving changes in the market. To tackle this, 1inch has adopted an instant governance model where participants can vote on protocol measures without any restrictions to entry. 

Sergej Kunz and Anton Bukov founded this advanced DEX aggregator platform in 2019 during ETHNewYork's hackathon. Since its inception, 1inch has raised over $15 million in funding from companies including Binance Labs, Galaxy Digital, and Pantera Capital. As per records, 1inch’s exchange trades about $250 million a day. 

However, with the launch of 1inch’s V2 platform in late 2020, the process became quicker and cheaper. It added more complex trades such as rerouting money earmarked as collateral for loans on decentralized lending protocols Aave and Compound to keep prices low. With advancements came an increased adoption rate for the network which pushed the price of 1INCH higher. 

Check Out: Could 1Inch Be a Millionaire-Maker Coin? 

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

Factors That Drive 1Inch To Skyrocket

By expanding 1inch’s reach in the DeFi space with numerous coalitions, 1INCH has become one of the top cryptocurrencies to buy now. 

Several factors have pushed the value of its native token, 1INCH to skyrocket in 2022. Moreover, the network also has numerous coalitions, expanding its borders which will again create a spike in the price of the 1INCH token. 

1. 1inch’s Partnership With NFT Animated Series 'Take My Muffin'

The newly launched animated non-fungible token (NFT) series called “Take My Muffin” has recently partnered with the DEX aggregator 1inch. This multimedia animated series could be the first co-created project by the crypto community and a professional animation studio.

The team behind 1inch will be sponsoring the NFT animated series. In addition, it will offer technical expertise with significant developments in decentralized finance. The partnership is a crucial attempt for 1inch to gain broader exposure in the DeFi and NFT markets. 

Anton Bukov, the 1inch Network co-founder, commented, “Take My Muffin’ was financed by the crypto-community from the very beginning; it’s actually the very first crypto-funded animated series, while the 1inch Network is one of the most promising and successful projects in the crypto space.”

2. 1inch Network’s Partnership With Binance Smart Chain

Yet another significant factor that boosted the price of 1inch recently is the exclusive launch of the native token 1INCH at the Binance Smart Chain. Two of the most remarkable protocols of the 1inch Foundation, the 1inch Liquidity Protocol and the 1inch Aggregation Protocol, are now available for access at the Binance Smart Chain. 

The 1inch token will serve as the bridge that connects Binance and Ethereum networks. Once a user transmits a 1INCH token to the BSC, the token would be locked at the Bridge, and BSC would unlock a corresponding value. This value generation would offer users access to numerous Binance-based DEXs and leading protocols like BurgerSwap, PancakeSwap, Venus, StreetSwap, BakerySwap, JulSwap, StableSwap, and more. Moreover, the registered users of 1inch can seamlessly switch between BSC and Ethereum. 

3. The Launch Of Version 3 1inch Aggregation Protocol

High gas fees have always been a significant concern for users in the cryptocurrency arena. Users are currently spending an average of $20 on Ethereum transactions. 1Inch, with its recent launch of the version 3 protocol, has brought in a solution to tackle this crucial issue. 

Thanks to its latest upgrade, “assembly code optimization, the 1inch Aggregation Protocol v3 facilitates lower gas fees. Moreover, the benefit of the protocol is not just confined to gas reduction but to crypto swaps too. For example, earlier, it was cheaper to swap tokens on Uniswap and its forks. But with v3 swapping, ETH for DAI on 1inch is now 10.3% cheaper than doing the same on Uniswap.

In addition to this, the protocol also brings a greater level of liquidity to the network, eventually driving its adoption rate, and pushing the price of 1INCH to record highs.

4. Integration Of Bitpay With 1inch

The 1inch Network, earlier this year has announced its partnership with BitPay, the world’s largest Bitcoin and cryptocurrency payment services provider. With the integration, Bitpay wallet users can access all 1inch’s DEX aggregation functionalities for locking the best deals from multiple liquidity sources. 

Speaking on the partnership, 1inch co-founder Sergej Kunz added that “The BitPay Wallet app is a perfect opportunity for us to reach out to new audiences who, in turn, will benefit from the 1inch’s attractive rates and user-friendly swap process.”

Why 1inch Will Skyrocket?: Expert Predictions

Experts predict that if the team behind the network continues to expand the network's reach, 1INCH could significantly skyrocket in 2022.

Trading Beasts:

“1INCH can be a profitable investment option in the DeFi sector. Based on our 1INCH price prediction 2022, the token might cross $2.68. A long-term increase is also expected; the price prognosis for 2025 is $5.57. With a 3-year investment, the revenue is expected to be around 250%.”

The Global Coverage:

“According to our forecast, the token will rise to $5.64 at the end of this year and will ultimately reach $9.27 in the next four years.”

Don't Miss: Why 1Inch Is Going To Explode

Should You Invest $1000 In 1Inch Now?

Thanks to the significant price rise of the 1INCH token, the network is one of the leading decentralized exchange aggregators in the market. 

With the launch of new protocols and other partnerships, the team behind the cryptocurrency is expanding 1inch’s reach in the DeFi space. The exchange is also integrating several new liquidity protocols at a rapid pace. Moreover, farming is yet another significant feature that 1inch Network offers its users. Investors often prefer farming over staking as it requires zero lockup periods or any early withdrawal penalties. 

By offering an efficient method for DeFi enthusiasts to gain access to billions worth of liquidity, 1inch has already positioned itself as one of the investors’ favourites. Moreover, as 1inch would be a popular option for DeFi users moving forward, investing in 1INCH now could likely help you double your investment in the future. 

The Bottomline

The interest in DEXs is growing at a rapid pace today. Therefore aggregators like 1inch will likely skyrocket in 2022 and beyond. With a unique and innovative governance model that aims to reshape how decentralized networks are managed, the network brings in a multitude of features into the crypto space. For these reasons, 1INCH seems to be a good buy now for investors for future returns. 

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

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