Critical Update from Decentralized Exchange: Price Soars!

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Decentralized Exchanges or DEXs are also recognized as the strongest representations of smart contracts. 1inch Network It is one of the leading protocols in this field. The ecosystem has reached a new stage in the Polygon network, reaching 1.4 million users. announced.

Despite being a multi-chain price aggregator, 1inch was originally built on the Ethereum protocol. However, the exchange is now hosted on multiple protocols such as Polygon, Arbitrum, Fantom, BNB Chain, and Avalanche.

This development helped raise the price of its native token. While the token has increased by 0.74% in the last 24 hours, it has increased by 19.30% in the last 7 days. Positive developments around the DEX, on the other hand, increased the growth to 65.21% since the beginning of the year.

Koinfinans.com As we reported, investors’ enthusiasm for progress in the protocol is also showcased in the versatility of token burning on the Ethereum chain. As explained, a total of 541 ETH units worth $1.73 million have been burned in the past seven days. This figure represents a 40.8% growth compared to the previous week.

1inch Keeps Up With The Competition

Although 1inch is quite old as an ecosystem, it is far behind its competitors such as Uniswap, Sushiswap and PancakeSwap. The latest update, on the other hand, received a very positive reaction as it would increase the fight against opponents.

While BNB Chain remains its largest protocol, it aims for steady growth across all networks in the ecosystem.


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