Investing In 1-Inch Crypto: A Good Idea?

The 1inch protocol is a decentralised exchange (DEX) aggregator that allows users to find the best prices across the market by accessing financial liquidity from multiple DEXes. It is a fork of the 0x protocol, which is one of the largest DEXes known for its quality and efficient code. The 1INCH token is the native cryptocurrency of the 1inch protocol and can be held or spent to generate trading profits. It also acts as the governance token, allowing holders to make decisions and shape the future of the 1inch protocol. The 1inch platform uses a smart contract that automatically finds the best prices for users from various exchanges. It is also trustless, meaning that the platform does not hold any user funds. While some analysts predict that 1INCH can be a bad, high-risk investment option, others believe that it is a solid investment during the cryptocurrency downturn and has the potential to appreciate in the future.

1INCH token's growth and price analysis

1INCH Tokens: Growth and Price Analysis

Overview

The 1INCH token is the governance and utility token of the 1inch Network, a decentralised exchange (DEX) aggregator. The 1inch Network unites decentralised protocols, enabling lucrative, fast, and protected operations in the DeFi space. The 1INCH token has a market cap of $2.184T and is ranked #184 as of September 14, 2024. The token has seen substantial growth since its launch in 2020, with a peak price of $7.87 in May 2021.

Recent Performance

The 1INCH token has struggled in recent months, falling to an all-time low in September 2023. On February 15, 2024, the token was worth about $0.4475, with a total supply of 1.5 billion. The token's performance in 2023 was mixed, with a peak of $0.6896 followed by a sharp decline amid regulatory concerns. The 1INCH token ended 2023 with a small annual increase of 10%, underperforming compared to the broader crypto market.

Price Predictions

Despite the recent challenges, some analysts remain bullish on the 1INCH token's future prospects.

• CaptainAltCoin predicts 1INCH will reach $1.10 in 2025.
• DigitalCoinPrice forecasts a price of $1.07 in 2025 and $3.20 by 2030.
• PricePrediction.net expects the token to trade at $0.9296 in 2025 and surge to $5.68 by 2030.
• CoinCodex's short-term prediction sees the token hitting $0.491 by March 16, 2024.
• Google's Gemini AI platform predicts a price range of $0.50-$0.65 in the short term and $2.00-$5.00 in the long term.

Investment Considerations

When considering investing in 1INCH tokens, it is important to remember that the cryptocurrency market is highly volatile and unregulated in some regions. It is also important to do your own research and only invest what you can afford to lose.

That being said, 1INCH tokens have strong fundamentals and the project has attracted the interest of major cryptocurrency exchanges. The 1inch Network provides a useful service and the token has the potential for growth, particularly if the DeFi ecosystem expands and the protocol integrates with major protocols.

Additionally, the 1INCH token has a unique use case as a governance and utility token, allowing holders to participate in the 1inch Network's DAO governance and make protocol changes. This level of community engagement and DAO-driven decision-making could foster long-term value.

While the 1INCH token has faced challenges in recent months, its strong fundamentals, unique use case, and potential for growth in the DeFi space make it a potentially attractive investment opportunity. However, investors should carefully consider their risk tolerance and conduct thorough research before investing in the highly volatile cryptocurrency market.

1INCH's value and market cap

1INCH is the governance and utility token of the 1inch Network, a decentralised exchange (DEX) aggregator. The 1inch Network unites decentralised protocols to enable the most lucrative, fastest, and protected operations in the decentralised finance (DeFi) space. The 1INCH token is used to participate in the 1inch Network's decentralised autonomous organisation (DAO) governance. As of September 2024, 1INCH has a market cap of around $505 million to $1.15 billion, with a price per token of $0.2576 to $0.44.

The 1INCH token was launched in December 2020, and its price has fluctuated considerably since then. In February 2021, the token reached an all-time high of $6.31. However, by December 2021, the price had dropped to $2.47. The price continued to decline in 2022, reaching a low of $0.78 in May. As of September 2024, the price of 1INCH is significantly lower than its all-time high, but it has seen a recent upward trend, with its price increasing by 1.40% in the past 7 days.

Looking at price predictions, analysts expect 1INCH to reach a maximum price of $0.2950 by the end of 2024, with an average trading price of around $0.2699. By the end of 2025, the maximum price is predicted to be around $0.4571, with an average trading price of $0.3736. In 2026, the average expected trading cost is $0.5323, with a potential maximum price of $0.6226. By 2027, the average trading cost is expected to be around $0.7586, with a potential maximum price of $0.8902.

In summary, while 1INCH has seen significant price fluctuations, its recent upward trend and positive price predictions suggest it could be a worthwhile investment. However, it is important to remember that the cryptocurrency market is highly volatile, and there are no guarantees of future performance.

1INCH's liquidity protocol

The 1inch Liquidity Protocol is a decentralised cryptocurrency exchange. It is a next-generation AMM (automated market maker) that facilitates decentralised token swaps without the need for an order book. It is designed to capture value typically captured by arbitrageurs and provide liquidity providers with competitive returns compared to other AMMs.

Users can contribute to the liquidity pools to earn liquidity mining rewards and a share of the 1inch DEX transaction fees. Liquidity providers can also collect staking rewards in 1INCH or other tokens. The 1inch Liquidity Protocol also offers a flexible limit order functionality, allowing users to place orders with specific price targets and terms.

The protocol incorporates the pathfinder algorithm, which finds the best paths among different markets on Ethereum, BSC, Polygon, Optimism, and Arbitrum. This ensures that users get the best rates on their token swaps. The 1inch Liquidity Protocol also provides protection from front-running attacks, making it a secure option for users.

The 1inch Liquidity Protocol is one of the products that has given extensive mileage to the 1INCH token, which continues to see liquidity in the cryptocurrency trading space.

1INCH's pros and cons

1INCH Pros:

• It is a decentralized exchange (DEX) aggregator, which means it scours the cryptocurrency market to find the best rates and lowest fees for your trades.
• It offers a huge range of cryptocurrencies, including ERC-20 tokens.
• It has no withdrawal or deposit fees.
• It works with various wallets, including MetaMask, MyEthereum Wallet, and Binance Chain Wallet.
• It offers a user-friendly interface that is easy to navigate even for users with limited experience with decentralized exchanges.
• It has a solid track record of safety, with no security lapses or hacking incidents to date.
• It offers great liquidity by acting as a DEX aggregator, ensuring that your cryptocurrency trades have high liquidity while keeping the exchanges to a single transaction.
• It has low transaction costs. Users can burn Chi Gastokens instead of ETH to complete transactions, which can dramatically reduce gas fees.
• It is available in many countries, including Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
• It offers a prepaid card with up to 2% cashback on every purchase.
• It is one of the most popular crypto projects in the decentralized finance space, with its native asset, 1INCH, being one of the most popular DeFi coins and one of the most traded tokens globally.
• It is supported by five networks: Ethereum, Polygon, Arbitrum, Binance Smart Chain, and Ethereum Optimistic.
• It has a strong team behind it, founded by senior software developer Sergej Kunz and software developer Anton Bukov.
• It has a well-established ecosystem, including the 1Inch Wallet, 1inch Limit Order, and 1 Inch Liquidity Protocol.
• It has the support of some of the largest cryptocurrency exchanges by trading volume, including Mandala Exchange, OKEx, Binance, Huobi Global, FTX, and eToro.
• It has a large market capitalization of more than $750 million.
• It has seen extensive usage by liquidity providers and continues to enjoy a positive aura around crypto trading and investing.
• Analysts predict that the value of 1INCH will increase in the future, with an average price of $3.05 by the end of 2024 and $3.11 by the end of 2026.
• It can be purchased on several well-known cryptocurrency exchanges, including eToro, Binance, and Huobi Global.

1INCH Cons:

• It is not licensed to operate in the United States.
• It is not ideal for new investors, as it requires a baseline level of knowledge about the crypto market and can be complex to use.
• It does not support the purchase of crypto with fiat money. While users can purchase Ethereum with a debit or credit card through a third-party site, the processing costs are high, and the rate is not competitive.
• It does not offer a physical card, only a virtual one. This means it cannot be used for ATM withdrawals or at places that require a physical card for security deposits and identity verification, such as car rental companies or hotels.
• It has high gas fees, especially when the Ethereum network is congested.
• It does not support popular cryptocurrencies that do not run on the Ethereum network, such as Bitcoin (BTC) or Binance Coin (BNB).

1INCH's safety and security

1inch (1INCH) is a cryptocurrency that has been described as one of the most popular crypto projects in the decentralised finance (DeFi) space. Its native asset, 1INCH, is one of the most popular DeFi coins and one of the most traded tokens globally.

Safety and Security

The 1inch Wallet is a non-custodial wallet, meaning that it is safer than custodial ones as all keys and passphrases are kept by users and not by third parties. In the case of custodial wallets, security vulnerabilities could lead to stolen data. Even if something happens to a non-custodial wallet, users can use their keys to regain access to their funds with another wallet.

The 1inch Wallet takes steps to keep customers' funds in an extremely secure environment as wallets are a prime target for cybercriminals. Code security is a top priority for developers. Blue Frost, a major security and audit service provider, ensures wallets' high-level safety. It is one of the leading cybersecurity companies and has identified vulnerabilities in Microsoft, Huawei and Samsung products. Blue Frost conducts wallet audits by performing testing, automated static analysis and manual code review in order to analyse its weaknesses in compromises, loss of user finances and unexpected behaviour.

The 1inch Wallet also protects against tampering and reverse engineering, which are the hacker's favourite methods. Tampering causes a serious threat to mobile apps because it aims to change either the app itself or its behaviour. Malicious actors tamper with the application in order to figure out how to bypass the logic behind the design. In a hope to reach sensitive data, hackers need to know where to search for it in the application, which encourages them to engage in reverse engineering. As they are familiar with common structures in compiled code, they use complex techniques such as putting artificial bugs or static analysis in order to comprehend the structure of the code. With that in mind, the 1inch Wallet’s developers ensured strong protection against such threats.

There is no way for hackers to get access to users’ data and private keys. The 1inch Wallet protects data by using side encryption for both iOS and Android users. As a result, users don’t need to deal with open keys at all, the compromise of which is a common reason for security threats. Thus, the 1inch Wallet leaves hackers no possibility of stealing even in the case of direct access to users’ devices while they won’t be able to pass Biometric Authentication.

There is also an extra backup files’ protection. These files enable the global saving of the information of the 1inch Wallet itself and all imported wallets. Backup files are encrypted with the most advanced and reliable algorithms so that no one except the user knowing the password can decrypt them and get access to the saved data.

The 1inch Wallet provides all the best current security options for users, surpassing the protection level of many big-name exchange wallets.

Frequently asked questions