ReportWire

Tag: 1INCH

  • 1inch Soars with $30B Volume, Secures 64% of Ethereum DEX Aggregator Market: Report

    1inch Soars with $30B Volume, Secures 64% of Ethereum DEX Aggregator Market: Report

    [ad_1]

    1inch experienced a substantial surge in volumes and market dominance in the fourth quarter of last year amidst a broader market resurgence,

    According to Messari’s report, the popular DEX aggregator recorded over $30 billion in executed volume and a commanding 64% share of the Ethereum DEX aggregator market. The nearly doubled volume from external sources suggests increased adoption of 1inch as a backend solution and the expansion of aggregator platforms.

    1inch Sees Increased Trading Activity in Q4

    Transaction growth is primarily attributed to new products, as evidenced by increased activity in the Limit Order Protocol (LOP) and 1inch Fusion, while transactions in the Aggregation Protocol witnessed a decline during the quarter.

    The share of 1inch trades conducted on Uniswap V3 and V2 saw an increase by 8 and 3 percentage points, constituting 40% of trades and 8% of trade volume, respectively. The volume generated by 1inch on these two Uniswap versions rose from $5.6 billion in Q3 to $10 billion in Q4, Messari’s report noted.

    The share was mainly derived from Curve and Dodo, the second and now sixth most common execution venues. PancakeSwap continued to receive over $1 billion in trade volume from 1inch for the second consecutive quarter, accounting for 7% of 1inch’s total volume in Q4.

    During the period, 1inch experienced notably greater volume growth compared to its counterparts, leading to an expansion of its market share from 59% of trades in Q3’23 to 63% in Q4’23.

    The sole significant competitor to gain market share in Q4 was CoW Swap, holding 11% of the aggregator volume on Ethereum during the quarter. ParaSwap and 0x, in turn, held 11% and 10% of the aggregator volume, respectively, in Q4.

    1inch DAO

    Throughout Q4, the 1inch DAO continued its strategic treasury management, diversifying its stablecoin holdings by swapping a million USDC for DAI. These funds were then deposited to earn interest as sDAI, constituting the first reallocation since the Q2 deposit of 1 million USDC in Aave for interest.

    On the expenditure front, the DAO used slightly over $1 million in three distinct transactions. Notably, on December 30, $890,000 USDC was allocated to fund support services for users within the 1inch Network.

    Meanwhile, the staked amount of 1INCH saw a 7% increase in the fourth quarter.

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    [ad_2]

    Chayanika Deka

    Source link

  • 1INCH rings in new year as top crypto gainer

    1INCH rings in new year as top crypto gainer

    [ad_1]

    CoinMarketCap, the world’s most-referenced crypto price-tracking website, reports 1INCH, Filecoin, and Klaytn as top gainers with double-digit gains in the last 24 hours.

    Over the past 24 hours, 1inch Network (1inch) has risen 22.3%, currently at $0.5223. The 1inch Network combines decentralized protocols to facilitate efficient, high-yield, and secure operations within the decentralized finance (defi) sector—the initial protocol within the 1inch Network functions as a decentralized exchange (DEX) aggregator.

    While no significant releases were rolled out, the network presented an encouraging year-in-review report, shedding light on various aspects, including notable statistics, the 1inch portfolio new tool, which would enable users to manage assets across multiple wallets on all chains.

    Within one and a half months of its launch, the platform has garnered over 100,000 wallet addresses actively utilizing its services.

    Top Crypto Gainers Today | Source: CoinMarketCap

    Filecoin (FIL) sits in the runner-up spot, a decentralized storage system with a mission to preserve “humanity’s most important information.” Having raised $205 million through an initial coin offering (ICO) in 2017, the project initially anticipated a mid-2019 launch.

    On the first day of January 2024, the price of Filecoin sits $7.15, a 13.8% increase in the last 24 hours, and part of growing interest this week with a 34.4% surge in the last seven days despite no major updates for the project. At the same time, a known analyst released a bullish prediction that may account for continued interest.

    Crafted by the prominent Korean IT company Kakao, Klaytn (KLAY) rounds out the third spot in top gainers for Jan. 1. The project, which exists as a global Layer 1 public blockchain geared towards fueling the future landscape of on-chain activities, is said to provide the lowest transaction latency compared to other leading blockchains.

    The live Klaytn price is currently at $0.2656, a 13.1% increase. The increase follows the recent announcement from The Klaytn Foundation, reassuring stakeholders that it remains unaffected by the Orbit Bridge hack. 

    An analyst from the Crypto Banter YouTube channel recently highlighted that the cryptocurrency market is on the cusp of entering a robust altcoin season according to a Dec. 28 release, current numbers proving his prediction to be true.


    Follow Us on Google News

    [ad_2]

    Sarah Jansen

    Source link