The major milestone for the 1INCH network comes just within three weeks of its latest funding round when it rose $175 million in Series B funding round, taking its valuation to $2.25 billion. The DEX aggregator joined the growing list of crypto unicorns in the year that was dominated by all-around crypto adoption.
In 2021 crypto startups and projects raised more funds than all previous years combined and 1Inch closed one of the latest funding round in the first week of December.
1Inch makes key limit order changes and swap efficiency
1Inch protocol has made key changes to its limit order launching the second version a couple of days back. The upgrade also saw a significant increase in efficiency for ETH swaps amid growing gas fee concerns. One of the most prominent features among the latest upgrade is the ability to facilitate gasless order placing to swap tokens into ETH. One of the developers explained how it works:
“A user can create a limit order to swap for ETH any token that they received in an airdrop or bought for fiat, as long as the token supports permits, even if their ETH balance is 0.”
Users who do not have any ETH will be able to trade with coins that support permissions. There are currently 112 similar tokens on Ethereum, 33 on BSC, and 15 on Polygon, according to 1inch, including USDC, AAVE, UNI, DAI, 1INCH, BAL, and others.
1Inch token has also shown resilience against the current market downturn and although it has seen a price correction like other altcoins, the depreciation is not as high as other coins. 1Inch is currently trading at $2.33 with a 5% decline over the past 24-hours.
- Trending
- Price Analysis
- Defi News: 1Inch breaches key milestone of 1 million users on Ethereum (ETH)
- Breaking: Dubai World Trade Centre to become regulator and comprehensive zone for Crypto
- Cryptocurrency 2022: Bitcoin, NFT’s And Other Big Players To Rule The Roost
- Price Analysis: Stellar, XRP, And Terra Appreciate Above 3%
- Tether takes a dig at the Fianancial Times article, calls it “Tabloid Journalism”
- Just-in: China’s Internet giant Baidu registers its Metaverse trademark
- Bitcoin Price Prediction: BTC stares into the abyss as $39,500 looms
- Ripple Price Prediction: XRP on the verge of 18% launch to $1.029
- This is how much the United States has sold in seized Bitcoin (BTC)
- Bitcoin (BTC) miners unspent supply nears ATH
- CAKE Price Analysis: Do Or Die For Pancakeswap As It Fails To Flip $12.2 Resistance
- Price Analysis: Stellar, XRP, And Terra Appreciate Above 3%
- Bitcoin Price Prediction: BTC stares into the abyss as $39,500 looms
- Ripple Price Prediction: XRP on the verge of 18% launch to $1.029
- Litecoin Price Prediction: LTC Price Escapes Falling Wedge Pattern With Bullish Breakout
- Ethereum Price Analysis: Falling Wedge Pattern Extends The ETH Correction Phase
- Terra Coin Price Analysis: LUNA Coin Ready To Challenge $77 Resistance For Bullish Breakout
- Hedera Price Analysis: HBAR Coin Escapes Descending Trendline With Bullish Breakout
- YFI Token Price Analysis: Descending Trendline Threatens Another Fall In Yearn.finance
- MANA, SAND And ENJ Price Analysis: Metaverse Token Blooming
