So far, cryptocurrencies with a decentralized finance nature are still doing very well.

Recently, the “1inch” digital currency rose in a record and within a few hours, and even outperformed many other cryptocurrencies classified within the 100 largest currencies in terms of total market capitalization.

1inch is a decentralized trading platform that derives its liquidity from various trading platforms, and its smart contract can be used to spread a single transaction across multiple DTPs.

The 1inch platform has been in development since 2019, and has secured funding from Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures and “Divergence Ventures”.

Although the beginning of the development of the platform was in the year 2019, it was not launched until the end of the year 2020, which coincided with the inclusion of the 1inch digital currency on the Binance platform, to be affected by this and increase by 1000%.

Read:The world’s largest accounting firm announces a partnership with Polygon crypto project for its blockchain products

1inch soars toward the moon in an hour:

Binance surprised the crypto community by announcing its support for 1inch.

The Binance ad tweet received more than 700 likes in just a few hours, and it quickly went viral in the crypto community.

Damn, it looks a little longer than 1 inch…@1inchExchange 👏 pic.twitter.com/o1NRAFnhhc

– CZ Binance (@cz_binance) December 25, 2020

When the new cryptocurrency started trading on Binance, it rose 1200% from $0.2 to $2.60, and its daily trading volume exceeded $106 million.

This surge of more than 1,000% has undoubtedly been a recent topic for DeFi crypto enthusiasts.

After such a big rally, the currency saw a correction, falling to $2.2 before a fresh bounce to $2.9.

After that, the cryptocurrency saw another sharp drop and the price reached $1.8, where it seems to have found some stability.

about 1inch:

1inch team has been very busy lately.

Besides the listing process, the project also distributed 1inch cryptocurrencies to all traders who used the platform before September 15th.

Read:Learn about the details of the burning process of Binance Coins (BNB) for the last quarter

The airdrop was offered to all those who used the platform to make at least 4 trades or traded at least $20.

This gave a total of 55,200 titles eligible to claim the free 1inch coins.

They acquired 9,749,686,003 1inch digital currency worth $27.5 million.

The address is:

0xa0f75491720835b36edC92D06DDc468D201e9b73

It is he who has received a large amount of free distribution as this title enjoys strong activity on decentralized finance platforms such as Uniswap and Sushiswap.

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