The native token of 1inch (1INCH), which has risen by more than 22% since the writing of this article, is one of the best-performing cryptos in the last 24 hours.
The multi-chain liquidity platform has seen a notable increase in its prices as a result of heightened crypto values on September 4.
From a day-earlier low of $0.22, the 1INCH token has surged to above $0.28.
Bitcoin briefly soared above $58,500 during this period.
1INCH’s rise reflects the broader trend in the market, despite a large outflow of spot Bitcoin ETFs on Tuesday, when BTC dropped to $55,700.
Buy 7.96 1INCH Tokens for 1inch team
The price of 1inch rose by double-digits on Wednesday, September 4th, 2024. It reached its highest point in the past two weeks.
1inch reported the switch to the green when it was able to report important network news. The team bought 7.96 million tokens of 1INCH.
Lookonchain, a crypto-on-chain data tracking service, noted that this purchase was valued at $1.75million. The 1inch team spent 1,75 USDC in this instance to purchase the tokens at $0.22.
Since July 5, 2024, however, the project bought back more than 22,4 million tokens 1INCH. These purchases totaled over $5.49million, and were completed on average at $0.25.
The price of the $1INCH increased by more than 20% after the #1inch bought 7,96M ($1,75M). x.com/lookonchain/st…
1inch hits key monthly milestones despite price weakness
Since its May 2019 launch, the 1inch Protocol has seen significant growth. This is due to the proliferation of DeFi (decentralized finance) tools. The platform includes the Liquidity Protocol and the 1inch Wallet App, as well as peer-to-peer payments.
The total value of the network is now at a plateau after plummeting to $2.2 billion from February 2021 highs. The project has gained new momentum, despite the price struggle since 1INCH dropped from a high of $0.68 per 1INCH in March.
The second quarter report 2024 on 1inch metrics revealed an increase in transactions and volume on the Ethereum and Base networks. This trend has continued through August with 1inch metrics showing growth in gas fee adjustments and contests as well as key integrations throughout the market.
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Nicegram, a web3 wallet powered by artificial intelligence and based on Telegram’s AI platform, integrated the Swap API in August. This collaboration will also unveil a contest for $1,000 USDC that ends on September 27, 2018.
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