- 1inch Network (1INCH) has surpassed $30 Billion in total trading volume
- 1inch Network is available on both Ethereum and the Binance Smart Chain
- The 1INCH token was listed on Coinbase yesterday, April 9th
- 1INCH Token has experienced 28% gains in a 7 day period
The 1inch Network (1INCH) decentralized platform has now surpassed $30 billion in total trading volume. The project, which was launched in May of 2019, also hosts over 177k users with a 24-hour trade volume of $132.99 million. The impressive 1inch Network milestones can be seen in the following screenshot courtesy of DuneAnalytics.com.
1inch Rebrands to 1inch Network
Earlier this week, the 1inch decentralized finance platform rebranded to 1inch Network. The reason for the rebrand was that 1inch (1INCH) Network had now expanded beyond Ethereum and deployed on the Binance Smart Chain. Therefore, rebranding with the term ‘network’ seemed logical as the 1inch protocol continues to grow.
The growth of the 1inch Network is best exemplified by the following tweet which includes an infographic demonstrating the impressive 24 hour trade volume of the protocol on both Ethereum and the Binance Smart Chain.
— 1inch Network (@1inchNetwork) April 9, 2021
The official announcement of the rebranding went on to point out that the 1inch Network was now a broader entity as explained below.
The 1inch Network is a collection of strong and composable DeFi instruments, which together enable both veteran and new DeFi users to maximize the financial opportunity of Web3 with clean UX and secure contracts.
Coinbase Lists 1INCH Token Alongside ENJ, NKN and OGN
Yesterday, the US crypto exchange of Coinbase announced that it was listing the following digital assets on Coinbase.com, and its apps on Android and iOS.
- 1inch Network (1INCH)
- Enjin Coin (ENJ)
- NKN (NKN)
- Origin Token (OGN)
The listing of the four digital assets caused a knee-jerk reaction in their values as a result of the Coinbase Effect. The digital assets have since experienced significant pullbacks after impressive weekly gains as highlighted below.
Ray Schuetz received a Masters Degree in computer science from The University of Texas (Austin). Ray has been working as a full-time blockchain consultant for the past 3 years. In his spare time, Ray enjoys writing for EthereumCryptocurrency.com and other crypto news publications.