1INCH Headed to $7 or Falling Below Support Zone ?Some 1INCH Takeaways/News:
-As of Feb. 16, the 1inch exchange alone had recorded close to $10 billion in volume in just the first 46 days of 2021.
-Decentralized exchange aggregator 1inch searches for the best rates on multiple DEXs, splitting the trade by several pools in order to retrieve the maximum amount of tokens possible all in one transaction. This can be quite useful for large trades where going through multiple exchanges will be beneficial to ensure a better exchange rate, rebating some of the value lost in gas fees.
-1inch transitioned to DAO governance late last year, and today announced a second round of airdropped governance tokens in a novel vampire attack on Uniswap
-Usually, these airdrops were meant to properly seed initial token supplies, so that only active participants in DeFi would receive them. The airdrop conducted by 1inch now has one specific purpose: Stealing some users from Uniswap.
NOT FINANCIAL ADVICE - TRADE AT YOUR OWN RISK
