There are so many “up and coming” cryptocurrencies in the world it is hard to keep up with where you should be placing your money for the biggest gains. Analysts are now able to vaguely see a pattern with crypto investments and give predictions on the projection of various coins. One of the latest is the 1inch Token. Here is a look at 1inch Token’s price prediction.
About 1inch Token
First, what in the world is a 1inch token? Well, it is one of the latest coins to cause a buzz in the crypto market. It is what people in the know call a DEX aggregator. This means 1inch is used to aggregate prices across multiple decentralized exchanges. For example, if you wanted to buy some Bitcoin, 1inch would do the hard work of finding the best time and place to buy.
It all starts with 1inch Exchange, which helps consumers maximize trading and supports the use of more than 250 digital currencies. The Exchange’s next initiative is to launch its own token. It will be spread across digital wallets that have interacted with the 1inch Exchange in some manner.
1inch token is on the Ethereum network. Currently, the supply of 1inch coins sits at about 1.5 million with only 6% in circulation right now. Over the next four years, another 30% of the tokens will be distributed. The rest will be allocated at various intervals.
1inch Token’s Price Prediction
Predictions about 1inch token’s price vary, depending on who you ask. Of course, crypto is fairly new to everyone so there aren’t many “experts” out there. No matter who you ask, the future of 1inch looks promising though.
Within four days of its launch last Christmas, 1inch token dropped from $2.63 to $0.70. The reason for this can be explained simply: there was an increase in circulation of the coin but not price. By July 2021, it landed around $1.65 and has continued to increase since then. That being said, it is still only the 117th largest cryptocurrency in the world right now. So, it has a lot of room to grow still.
Many crypto analysts are predicting that 1inch token will reach $12 to $15 on the market by December 2022. By 2030, prices could be as high as $18. While the coin may have its ups and downs in the years to come, it may prove to be a valuable investment.
Where to Invest in 1inch
If you like the looks of what crypto experts are predicting you can invest in 1inch on various platforms. You can’t yet purchase it on my personal favorite, Robinhood. People interested in purchasing 1inch will have to head over to Binance, Mandala Exchange, or another platform that supports the trade.
Culture Shift Towards Crypto
One of the biggest factors when it comes to price predictions for cryptocurrencies is how our culture’s attitude towards crypto is shifting. Overall, people are adopting more positive attitudes towards cryptocurrency and digital currency. People are becoming more comfortable performing transactions on decentralized exchange platforms. More tokens and cryptocurrencies will be developed in the years to come as a result. Over time, this will be a good thing for tokens like 1inch.