The 1INCH exchange is increasingly booming from the cryptocurrency market. 1INCH owns its original digital assets. In this post, we’ll cover the 1INCH Price Prediction for 2021 and beyond.
Please remember that predicting something is a very difficult job to do. Before we dive into prediction, let’s take a quick look at what 1INCH is and its history to date.
What is 1INCH?
1INCH is also called a DEX aggregator, meaning that it removes some decentralized exchanges for the cheapest prices and reroutes its customers’ trade between them to try and ensure that they get the best price.
In November 2020, when 1INCH launched ‘V2’, a major update to its platform, swaps were split between 21 decentralized exchanges, including newer ones that emerged from the decentralized financial boom (DeFi) of 2020, such as SushiSwap and its own 1INCH liquidity protocol, Mooniswap .
1INCH was founded by Sergej Kunz and Anton Bukov in 2019 during the ETHNewYork hackathon. Since then, 1INCH has raised around $15 million in funding from companies such as Binance Labs, Galaxy Digital, and Pantera Capital. As of January 2021, 1-inch exchanges are trading an estimated $155 million a day.
How does 1INCH work?
Let’s say you want to buy some Wrapped Bitcoin (synthetic version of Bitcoin) using Ethereum on a decentralized exchange. Take a look at the different DEXs and you will find that the prices vary, so will the costs.
The 1INCH algorithm finds the cheapest way to place those trades using all the different exchanges and liquidity protocols that can facilitate these trades.
The cheapest way to place these trades may involve swapping your Ethereum between several different protocols and for several different currencies before it arrives Bitcoin Wrapped. The advantage of doing this is that you can buy Bitcoin Wrapped at a lower price.
The launch of the 1INCH V2 platform at the end of 2020 makes things even faster and cheaper. This adds some more complex trades to keep prices low, such as diverting money allocated as collateral for loans in Aave and Compound’s decentralized lending protocols.
What are 1INCH tokens?
Right in 2020, 1INCH launched its own cryptocurrency, the 1INCH token. This is a “governance token,” meaning you can use it to vote on how to run the 1INCH platform. 1INCH calls this “instant government”.
1INCH distributed many tokens in airdrops at the end of 2020. These tokens can be claimed by giving money to 1INCH’s own liquidity protocol (Mooniswap).
The main way to earn 1INCH tokens is by providing liquidity to the 1INCH liquidity platform. This involves risking cryptocurrency that other people can use when making trades. You can also earn other cryptocurrencies this way.
You can also trade 1INCH tokens on the exchange. As of January 27, 2021, the token is valued at $2.41 and has a market capitalization of $175 million. There are 72 million 1INCH tokens in circulation out of a total supply of 1.5 billion.
Is 1INCH a Good Investment?
1INCH is in a steady turnaround after the high of $2,186. The token appears to be well-behaved in the market today after its all-time high.
As we predicted above, almost every platform considers 1INCH to be an excellent investment opportunity in the long run.
Are 1INCH exchanges safe?
1INCH Swap is a DEX aggregator that is not a custodian. This ensures that cryptocurrency doesn’t have to be stored on the Exchange, unlike other centralized exchanges where your cryptocurrency is stored in their trading wallets.
1INCH Token Price Analysis and History
On Christmas Day, the first 1INCH tokens were distributed to the public in the form of airdrops. After that, on December 29 the price continued to fall from $2.63 to $0.7.
This may be due to airdrop sales by several people. During its launch, 1INCH tokens were launched with the first liquidity mining system. It distributes 0.5% of the global supply (1.5 billion). Supply increases in circulation, but not price.
But 1INCH is quickly starting to gain value for investors who buy it. This causes an increase because the purchase price increases. By the time of the liquidity mining program and subsequent deliveries on January 9, supply exceeded demand.
Defi’s business rose once again in February, and on February 5, the token touched an all-day high of 6.31 dollars. 1INCH is trading for $3.89 and is grabbing 108th place on Coinmarketcap at the time of writing.
Many analysts predict that this 1INCH token will be worth $10. Looking at the market cap, 1INCH is identified in the top 150 coins and will be one of the top 50 cryptocurrencies per market cap, taking into account the trend in a few days.
1INCH Price Predictions 2021, 2022, 2023, 2024 and 2025
In 2021, we expect INCH to perform better than 2020. This is not the case as many analysts predict that the entire cryptocurrency industry will be better off in 2021 due to the halving in bitcoin mining that is happening now. DigitalCoinPrice has been forecasting 1INCH price for the next five years to add a little hope.
According to the latest forecast data, the coin is expected to gain $5.64 in December 2021. For 2022, it could hit $6.16, $7.99 for 2023, and $9.27 for 2024. Expectations set for the coin were higher in 2025. Many analysts and traders believe that 1INCH will cross the $10 mark by 2025.
If bitcoin price changed parabolic by chance, which we have seen over the last few days, the 1INCH price trend will probably follow the same path, making it easy to hit $10 – $12.
1INCH Price Prediction 2021-2025 from Wallet Investors
Like many other cryptocurrencies, the price of 1INCH will follow the same fluctuations in bitcoin price. We believe that when bitcoin price goes up GAGA for no reason, we expect 1INCH to reach new all-time highs.
Investor Wallet’s 1INCH price prediction is very relevant. Price expectations are set very high by Wallet Investors. According to them, the price of 1INCH will increase by $ 33,984 in December 2021.
For 2022, the coin will hit a very high note price of $67,728. Note that the price range set by Wallet Investor is very high compared to other analysts.
By 2024, we expect a 100% increase in price compared to 2022. The Wallet Investor price forecast predicts that 1INCH will cross the $100 mark by 2024 and reach $150 by 2025.
1INCH Price Prediction for 2021, 2022 and 2023 from TradingBeasts
How much will 1INCH cost in 2021? TradingBeasts sketched a range that can travel 1INCH. The average minimum monthly price in March is projected to increase from $4.20 in December to $7.94. In the same period, from 2022 to 2022, the maximum amount will increase from $6.17 to $11.68.
1INCH Price Prediction for 2030
1INCH tokens only around a few months. Nor is there enough evidence to make reliable long-term forecasts. Some predictions, like the Wallet Investor above, which only provide fundamental factors, give an estimate of between $20 – $25.
The future of 1INCH is highly dependent on a decentralized financial future. Decentralized exchanges are still expensive, slow and relatively insignificant compared to a powerful centralized exchange like Binance. But if that fails and the market needs a decentralized alternative, then aggregators like 1INCH will take some leeway.
Some of the 1INCH token supply is allocated for development which will take the platform to new heights. We can hope that V3, if it ever comes out, will make trading more efficient, use the DeFi protocol more, and make things less expensive.
The exchanges are currently integrating new liquidity protocols very quickly and, as long as the market doesn’t hit rock bottom, there is no reason to expect that speeds will slow down any time soon.