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What is 1inch all about
DeFi has not only boomed in popularity, it has become a competitive marketplace - especially for liquidity. To capitalize on this, 1Inch has become an exchange aggregator that scans decentralized exchanges to find the lowest cryptocurrency prices for traders. Of course, being a blockchain protocol itself, it is powered by its 1INCH utility and governance token.
The Defi space is still nascent and thus suffers from a few issues, such as slippage, and with no central authority to make this up, 1Inch aims to deepen liquidity pools by scanning a range of DEXs to find the lowest market price to facilitate a trade. The 1inch DEX protocol aggregates liquidity across DEX platforms to deepen liquidity, which in turn counteracts order slippage.
Additionally, the 1INCH token gives voting rights and facilitates participation in the decentralized autonomous organization that controls the 1inch DEX platform. Interestingly, the 1inch exchange employs a governance model known as "instant governance," which is meant to make it easier for token holders to enact changes to the protocol.
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1INCH Questions & Answers
What is the current 1inch price?
Currently, the price of 1inch is at 3.07 EUR.
Historically, what was the highest 1inch price?
The price of 1inch peaked on 2021-05-08, when it was at 6.44 EUR.
What will 1inch be worth in 1 month?
Using our prediction, we estimate 1inch's price is likely going to reach between €1.60 and €3.52 in 1 month time.
Is 1inch expected to increase in value in 3 months time?
Using our short term price prediction we estimate that 1inch's price will be anywhere between €1.58 and €3.99 in 3 months.
Is 1inch expected to increase in value in 6 months?
Accurate long term projections are very difficult, however on the basis of our prediction algorithm we estimate that the price of 1inch is likely going to be between €0.50 and €5.51 6 months from now.
How popular are topics related to 1inch on social media?
null people engaged in an online discussion on Reddit about 1inch in the last 2 days. The official 1inch Twitter account is followed by null users.