This year has been a tough sail for 1inch since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of 1INCH.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for 1inch to reclaim its all-time high in 2023? Continue with the article to learn about 1inch price analysis and prediction by Coinpaper.
What is 1inch?
1inch Network is a decentralized exchange (DEX) aggregator that allows users to find the most efficient routes to swap tokens across multiple liquidity pools. The platform searches deals across various decentralized exchanges, including Uniswap, SushiSwap, and Balancer, and uses complex algorithms to route trades to the best possible prices. Its native token 1INCH plays a crucial role in the 1inch Network ecosystem, incentivizing users to participate in liquidity provision and governance, as well as serving as a medium of exchange for protocol fees and discounts.
1inch (1INCH) price
Currently, 1inch Price is USD. 1INCH has a circulating supply of coins and a total supply of . If you are looking to buy or sell 1inch, Binance is currently the most active exchange.
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1inch price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish 1inch 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see 1inch price at $0.94 to $1.78. On the flip side, a fading interest in the new meme coin may push the price of 1inch to $0.38-$0.23 lows.
1inch price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to 1inch (1INCH) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of 1inch to climb as high as $2.24, with the more distant prospect of reaching $3.11 in 2024. The bearish scenario is likely to see 1inch (1INCH) trading between $2.15 and $1.92 in 2024.
1inch price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our 1inch (1INCH) price analysis and prediction is based on pure speculation and observation of 1inch historical price movements.
Our 1inch 2025 price forecast expects 1INCH to rally towards $3.92 and reach $4.84 by the end of the year. The bearish scenario would see 1inch at $3.11 to $2.83.
1inch (1INCH) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for 1inch is neutral. In 2026, we expect 1inch to reach at least $5.98 before climbing higher to $7.34. In case of a bearish scenario, 1inch may fall to $3.93.
Is 1inch (1INCH) a good investment?
Since 1INCH token has a solid utility case as a native token of the leading DEX aggregator, it can be a good addition to the altcoin allocation in your portfolio. Moreover, the token has a potential to greatly appreciate in value due to the rise of DeFi in an aftermath of the SEC’s crackdown on centralized alternatives, which in theory would draw more traders to use 1inch Network to find the best deals. However, bear in mind that investing in cryptocurrencies carries a high degree of risk, so make sure to do your own research before investing in any token.
Are you ready to invest in 1inch? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy 1INCH from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
Who created 1inch?
The 1inch Network was created by Sergej Kunz and Anton Bukov during the ETHGlobal New York hackathon in May 2019.
What was the all-time high for 1inch (1INCH) ?
The all-time high price of 1inch is $ on 2021-10-27