Join Our Telegram channel to stay up to date on breaking news coverage
The 1inch Network token, 1INCH, suffered a 1.61% downtrend in the last 24 hours. However, the token has been on an uptrend in recent weeks, and investors can take advantage of the dip and add it to their portfolios.
1inch Network is a decentralized exchange (DEX) aggregator that assists customers in locating the best token trade prices. The platform aggregates across several liquidity pools and recommends the most effective way to trade tokens as opposed to exchanging tokens from the single liquidity pool of a DEX.
The most audited project in DeFi offers consumers affordable prices, a high degree of security, and access to the deepest liquidity from various sources across different blockchains.
The 1INCH token is the governance and utility token of the Network. Holders of 1INCH tokens can stake them to take part in the Network’s DAO governance, including the control of the 1inch DAO treasury.
Buy the 1INCH Dip and Invest
Following the recent rally, the broader crypto market experienced a 3.78% downtrend in the last 24 hours. Some digital assets, such as the 1INCH token, also got caught in the slump, with a 1.61% decrease in the past 24 hours.
However, both the token and the market have steadily risen recently. As a result, investors can take advantage of the 1INCH dip to profit when the overall crypto market rallies.
At press time, 1INCH trades at $0.64 after a downtrend of 1.61% in the last 24 hours. On the other hand, the digital asset saw an increase of 18.0% in the last seven days and 24.0% in the last 30 days.
According to 1INCH’s technical analysis, the digital asset is currently bullish. 1INCH is in a downtrend after encountering resistance at the 78.6% Fibonacci retracement level of $.0.68. The digital asset, however, may find support at the 61.8% retracement level of $0.61.
Currently, 1INCH is trading above the 50-hour simple moving average (SMA) indicator in the short term at $0.52. However, the long-term SMA indicator of the 200-day stands at $1.04, which is not far from the current price.
A sustained market rally could see the crypto asset rebound and break through most of these indicators, so investors should be on the lookout for 1INCH performance.
The digital asset’s Relative Strength Index (RSI) is 64.19, indicating that 1INCH trades in the underbought region. However, the moving average convergence and divergence (MACD) value shows a buy signal.
1Inch Team Up With Korean Crypto Exchange
The 1inch Network recently announced a collaboration with Bithumb Burrito Wallet – a new Web3 wallet from the well-known Korean cryptocurrency exchange Bithumb.
1/ 🔥 Here comes the spiciest announcement you’ve ever witnessed!
🦄 #1inch is excited to strike a partnership with #Bithumb 🌯 @BurritoWallet, a newly launched #Web3 wallet by @BithumbOfficial, a leading 🇰🇷 Korean #crypto exchange.
➡️ Read more: https://t.co/5nTw4SFSU1#DeFi
— 1inch Network (@1inch) February 9, 2023
Burrito Wallet is a user-friendly, multi-chain Web 3.0 wallet, which links users to DEXs, DeFi platforms, NFT marketplaces, and numerous dApps. Burrito Wallet offers Bithumb users quick and smooth Web3 access by offering a simple whitelisting procedure for their wallets.
The partnership will make it simple for Bithumb users to compare token prices on decentralized exchanges.
Other Value-Driven Assets to Consider
The 1INCH analysis above shows that the potential of the digital asset should not be overlooked. However, investors should be aware that they could gain from other value-driven altcoins. There is also the chance to be an early adopter because several of these coins are currently in the presale phase.
One such coin is C+Charge – the crypto startup that uses blockchain technology to create an efficient peer-to-peer (P2P) payment system for electric vehicle (EV) charging stations. The platform aims to create a sustainable environment by powering a network that will reduce carbon emissions and their harmful environmental effects.
😍 C+Charge’s users will receive tokenised carbon credit from @weareflowcarbon after using our app and tokens to pay for EV charges
💚Our token holders will also receive the carbon credits on a pro-rata basis
Join our #presale now⬇️https://t.co/ixe18bPqzI#ReFi #blockchain pic.twitter.com/T5PNWQlcjZ
— C+Charge (@C_Charge_Token) February 21, 2023
The project’s economy is powered by the $CCHG token. The digital asset is in the third of eight planned presale phases and has raised over $1.5 million. The token is currently priced at $0.016. However, after the third phase, it will rise to $0.017.
Another profitable altcoin to consider is Fight Out – a new Move-to-Earn (M2E) blockchain and Web3-powered platform that rewards users for completing fitness-related tasks.
$4.5M RAISED 🔥
Another huge milestone, #FightOutCrew! 🚀
Take advantage of this chance to get in early and claim your 50% bonus!
Join the presale now! 💪⬇️https://t.co/ZJslyfHI4t#Blockchain #Crypto #Presale #Web3 pic.twitter.com/JbAgjWXXzn
— Fight Out (@FightOut_) February 21, 2023
The project token, FGHT, is currently on presale and has raised over $4.54 million in investment as of press time.
The platform website has a countdown to its presale, and investors have only six hours to purchase the token at the presale price of $0.02393. Once the time elapses, the price will increase until it reaches a maximum price of $0.0333 when the presale ends on March 31, 2023.
Related News
Fight Out (FGHT) – Move to Earn in the Metaverse
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses
Join Our Telegram channel to stay up to date on breaking news coverage
Source: https://insidebitcoins.com/news/1inch-price-prediction-1inch-slumps-with-a-1-61-decrease-buy-now-before-it-rebounds