1INCH price prediction: Will 1INCH grow in 2022?

1INCH has performed well since its launch. What’s the latest 1INCH price prediction?

1INCH logo                                 
With more than 900,000 users and 6.4 million trades, the crypto has managed to gain traction in a saturated market – Photo: Shutterstock
                                

Contents

Founded in 2019 by Russian developers Sergej Kunz and Anton Bukov, 1inch Network is a decentralised exchange. Launched in 2020, 1INCH is an Ethereum-based token and native coin of the 1inch Network. Can we make a 1INCH price prediction? Let’s first take a look at what 1inch does.

What is the 1inch Network?

Aiming to provide the “best rates by discovering the most efficient swapping routes across all leading DEXes”, 1inch collates and aggregates token prices across a range of decentralised exchanges to seek out the best deals for clients.

The 1inch aggregation protocol uses the Pathfinder Algorithm to find best prices from more than 60 liquidity sources on Ethereum, more than 30 on Binance and more than 30 on liquidity sources on Polygon, Optimistic Ethereum, and Arbitrum.

1inch network has several important features. These include 1inch Limit Order, 1inch Wallet and 1inch Aggregation Protocol. The 1inch Network claims to be unique in the level of security it affords users because of the level of auditing it undertakes. 1inch smart contracts are audited by a range of auditing companies, including SlowMist and CoinFabrik.

With over 1.6 million users and over 11.7 million trades completed on the 1inch Network so far, the cryptocurrency has managed to gain traction in a saturated market.

What does this mean for the 1INCH price prediction? Let’s take a look quick at the past performance of 1INCH...

1INCH coin performance

The coin has performed well since its launch in December 2020. Prices surged in the beginning half of 2021 from $1.2246 on 1 January to $5.9223 on 5 February. On 8 May, 1INCH price reached $7.5802 before dropping dramatically to the lows of $1.6293 on 20 July. Prices then rose again, reaching $6.5204 on 27 October. Prices have subsequently decreased to $3.49 on 2 December and to the current prices of $2.33 on 6 January 2022.

1INCH overview

The 1INCH token, as the native currency of 1inch, allows users and liquidity pools to vote on the future of the ecosystem as well as on parameters of new products launched. The amount of weight each users vote holds depends on how many 1INCH tokens have been staked.

After completing two successful rounds of funding – raising $2.8m (£2.1m) in August 2020 and a further $12m in December 2020 – 1INCH cryptocurrency has a total supply of 1.5 billion coins and a total circulating supply of over 238 million.

So can we make a 1INCH price prediction for 2022? Or even a 1INCH price prediction for 2030?

Let’s take a look at what analysts think…

1INCH coin price prediction: expert opinion

It is important when looking at predictions to remember that while they can be helpful as an indicator of which direction the price may move, they should be viewed as possibilities rather than absolutes. This is especially the case when looking at long-term forecasts, as these can sometimes be completely off the mark,  because of the inherent volatility of the crypto market but also the many unknowns which could impact future prices.

With this in mind, WalletInvestor, in a bearish forecast, says that the 1INCH price should decline to $2.13 in a year’s time, and is unlikely to recover in the long-term future.

Gov.capital's 1INCH price prediction for 2022 is for the coins to see highs of $5.77 in the October. Its one year prediction from now is $8.65, and the site's five-year prediction is $21.03. 

DigitalCoinPrice thinks that 1INCH could be worth an average of $3.19 in 2022, before increasing to $5.92 in 2027. The website’s 1INCH price prediction for 2025 stands at $4.93.

While 1INCH has surged in 2021, it has also experienced significant volatility. Some analysts think it is an OK investment while others do not recommend investing in it, as they think it will go down in price in the future. 

While some analysts believe it will go up others believe the price will drop over the next couple of years. Forecasts, especially long-term ones, are better viewed as indicators rather than absolutes. 

Investing is a highly personal endeavour. Do your own research and try to keep up to date with any development on the 1inch Network which could boost its future prospects. 

Remember, investing can be risky and it is important not to invest more than you can afford to lose. 

Further reading:

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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