Jul 7, 2021
[3 min Read]
Best decentralized exchange for cryptocurrency and a worthy investment into their coin?
In this analysis, I will explain why now is the perfect time to invest in 1inch, the exchange that offers the best prices in the cryptocurrency market. My investment ideology will be based on its partnerships & development, releases/development, the status of the users, liquidity & volume, and market cap.
1inch Target Market
The goal of 1inch is to enable customers to make trades and receive the best price of a decentralized exchange. Cryptocurrency traders who want to save money will benefit from 1inch's algorithm to search through other exchanges to find the cheapest prices and rerouting them to its customers.
1inch competes with multiple exchanges in the cryptocurrency market. These include Uniswap, Sushiswap, and PancakeSwap. These exchanges are relatively new and uniquely structured to sell cryptocurrencies for slightly different prices. These differences in the coin's price can lead to opportunities for arbitrage. 1inch conveniently solves the solution and has a competitive edge in the cryptocurrency exchange market.
Active users in Defi
1inch's user base grew 568%, from 28k users in October to 187k in April.
Anton Bukov, Co-Founder
Involved in software development since 2002, for 7 years and achieved strong C++ skills, for 5 years experienced iOS Developer, worked deep with network stack of protocols, algorithms, compilers, disassemblers, profilers, etc. Currently enchanted by blockchain crypto technologies and interested in consensus problem solutions for crypto projects.
Sergej Kunz, Co-Founder
Sergej Kunz is Co-Founder and CEO at 1inch, Founder at Bulktrade, Co-Founder of CryptoManiacs. Experienced software engineer and developer with a deep understanding of Java, JavaEE, Spring, Liferay, Angular, Cloud Foundry, Docker, AWS, Scrum, etc. Sergej was working in such companies as Commerce Connector, Mimacom, Bosch, Siemens, Porsche AG, Mobex Communications. Has 10+ years of experience, AWS certified, ETHackathons winner. Software architect and dApps expert.
Partnerships and development
1inch partners ICHI to unveil dollar-pegged stablecoin
Stablecoin will act as a means of trade to pay for operating costs, produce liquidity, and disburse liquidity rewards.
1inch Foundation upgrades governance framework
Instant governance gave 1inch token stakers the ability to vote on changes to protocol parameters
Allow users to participate in the governance process by visiting the 1inch public forum and choosing a subcategory for their proposal.
Trading Volume 24h
The trading volume on average is around $24,116,191 for 1inch.
The current market cap is $487,667,019. This is a strength as the current market cap is relatively low compared to other currencies that are in the market.
On google trends, 1inch has increased in google searches from 50 to 53 (on a 100 point scale).
Although 1inch price has returned to its opening price, it is a great time to buy-in. The cryptocurrency market bloom is relatively new and still in its infancy. However, 1inch has a competitive edge that other exchanges do not have. 1inch can finding the best prices for its customers. This alone creates a compelling reason for cryptocurrency enthusiasts to utilize and benefit from 1inch.