1inch 1INCH/USD is a decentralized exchange aggregator that connects different DEXs into a single platform with the intention of allowing users to find efficient swapping routes across the platforms, thus eliminating the need for a manual checkup and increasing efficiency.
The 1inch Optimism Launch as a catalyst for growthCurrently, it is the third-largest application on Ethereum and has over 290,000 users. Take the numbers lightly though, as they only account for Ethereum users.
1inch also has its services available on Binance Smart Chain and Polygon, something that occurred earlier this year, and now it is available on the Ethereum scaler known as Optimism, a layer-2 solution focused on scalability.
The exchange aggregator is not the first on Optimism however and has joined both Uniswap and Synthetix.
The technology is based on optimistic rollups that batch transactions off of Ethereum and in turn, tighten its load. These batched transactions can then end up getting confirmed on Ethereum through a single block.
With all of that in mind, is now the right time to buy 1inch (1INCH)?
Should you buy 1inch (1INCH)?On August 18, 1inch (1INCH) had a value of $3.19.
To get a perspective of how high, or low this number is, we will be comparing it to its all-time high.
1inch achieved its all-time high on May 8 with a value of $7.84. This was a 145% higher value than the one seen on August 18.
However, to get a better perspective on its more recent growth, we’ll need to analyze July’s performance of the 1INCH token.
Its highest point was on July 7, with a value of $2.90. However, its lowest point of the month was on July 20 with a value of $1.65. This means that the token fell in value by 43%.
However, its highest point on July 7 was still 10% lower than the value it held on August 18, which makes the token look promising.According to data from IntoTheBlock, 1inch saw $104.76 million in transactions greater than $100,000 in the last 7 days.
Furthermore, when we look at the network, we can see a 30-day average of 65,410 addresses, with a 30-day high of 66,900 addresses and a 30-day low of 64,040 addresses.
With all of this in mind, we can expect the value of 1inch (1INCH) to rise to $4.30 by the end of August, which would make this the right time to buy.
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