• Here’s Why a One-Inch Token Increased by More Than 100 Percent in 24 Hours

  • 1Inch, a Defi aggregator protocol token, has increased by more than 100 percent in the last 24 hours, reaching a new all-time high of 8.6. The defi token surged from a daily low of $4.1 to a new all-time high before retracing to the sub-$6 price range. The main driver of the surge is being attributed to its recent listing on the Korean exchange Upbut, which triggered the massive rally, resulting in a 1500 percent increase in trading volume.

    Previously, Coinbase was known for spiking token prices following listing announcements and on the day of listing due to a new influx of investors. Several altcoins have begun to show bullish signs and price swings in the midst of the recently revived bull market. As $BTC is currently in consolidation phase following a new ATH near $67,000, several altcoins have begun to show bullish signs and price swings.

    Along with 1Inch, AAVE defied market expectations by trading in the green as a result of its listing on the Upbit crypto exchange. Aside from the listing-fueled alt-rally, SHIBA INU, the meme currency, was the biggest gainer, gaining 45 percent and reaching a new high of just under $0.00006. The meme currency climbed to the 11th spot in the crypto ranking, with a market cap of more than $20 billion, just below $Dogecoin.

    1Inch Network Activity is Increasing

    1Inch’s price may have risen as a result of its crypto listing on Upbit, but its network activity has also increased recently, indicating the development of a strong defi protocol. 1Inch is currently 200K users short of reaching the million user mark.

    1Inch is gradually becoming one of the key Ethereum Defi members, following in the footsteps of Polygon, who currently leads the L2 user charts. The popularity of L2 Defi can also be estimated by the fact that the value of assets locked in these scalable solutions has surpassed $4 billion, with a $2 billion increase in just one month.

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