1inch Sees 20% Surge After Team Buys $1.75M In Tokens
The 1inch team continues to show strong confidence in their project by purchasing 7.96 million $1INCH tokens, valued at $1.75 million.
This significant buy caused the price of $1INCH to break through $0.27, marking a rise of over 20%. As of 12:30 AM on September 5, 2024, the tokens price reached $0.288, reflecting a 27% increase over the past 24 hours.
After the #1inch team bought 7.96M $1INCH($1.75M), the price of $1INCH broke through $0.27, an increase of more than 20%!https://t.co/8StwttAPw9 pic.twitter.com/o20HCHzEXf
Lookonchain (@lookonchain) September 4, 2024
Project Overview:
Launched in 2019 by co-founders Sergej Kunz (@deacix) and Anton Bukov (@k06a), 1inch is a decentralized trading aggregator designed to enhance user experience by finding the best trading routes across various decentralized exchanges (DEXs). The platform was developed to tackle common challenges such as high transaction fees and fragmented liquidity.
Core Features:
1inch stands out with several key features:
Liquidity Aggregation: By aggregating liquidity from multiple DEXs using its Pathfinder routing algorithm, 1inch ensures that users benefit from optimal trading prices and reduced fees.
Multi-Chain Support: 1inch supports trading across multiple blockchain networks, including Ethereum, BSC, Polygon, and Optimistic Ethereum, offering flexibility and choice for users.
Limit Orders & Flash Trading: The platform allows users to set limit orders and take advantage of flash transactions, making it suitable for both basic and complex trades.
User-Friendly Interface: The platform offers both a Simple Mode for beginners and a Classic Mode for more advanced users, featuring detailed trading tools and analytics.
Token Utility:
The native $1INCH token, with a total supply of 1.5 billion and a market value of $335.4 million, plays a vital role in governance and incentives. Token holders can participate in key decisions for the platform, while users can earn $1INCH by providing liquidity.
1inch
@1inch DeFi 2024950300.288$2427%
1
1inch 2019 pic.twitter.com/rMaLlMIzXu
(@0xPandaWhat) September 5, 2024
Conclusion:
With its advanced features and recent market activity, 1inch continues to enhance the DeFi trading experience, making it a major player in the space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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