[Binance] 1INCH bullish turnaround driven by Binance

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Hello, this is kimm. The price of 1INCH token, which has been continuously declining since Binance launched a locked staking product that provides an annual interest rate of up to 63% on January 5, is switching back to the rising mode .

If you choose the two AMMs with the strongest dominance in the DeFi ecosystem, it will definitely be Uniswap and Mooniswap, and 1INCH token is a 1inch governance token, the best aggregator in the DeFi scene. It debuted on the scene gorgeously by paying airdrops to users.

However, as with UNI tokens, the utility of governance wasn't really useful, and the price continued to go down upon launch.

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In this situation, Binance, the world's largest exchange, launched a lock-up staking product with a maximum annual interest rate of 63.69%, and with the news, the price of 1INCH tokens is turning upward.

As you all know, Binance Labs has already invested $2.8 million in 1inch with Galaxy Digital, FTX, IOSG, Greenfield One, Libertus Capital, etc., and the reason why Binance has already been forced to push 1INCH hard. This is because the role of the 1inch team is very important in the DeFi ecosystem of Nance Smart Chain.

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The 1inch team is continuing to expand their territory not only in the Ethereum DeFi ecosystem, but also through partnerships and technical support agreements with other public chains such as Tron and Binance Smart Chain, and the recent hacking of DeFi platforms. It can be said that the team has no doubt about its influence and technology, such as giving a lot of technical assistance to

However, as with UNI tokens, promising VCs are backing up, and even if the TVL is large, the governance decision rights of DeFi's platform tokens do not have great value to investors, so 1INCH tokens are a portfolio for long-term investment. It can be said that whether it can be included in is unknown .

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In order to have value as a long-term investment asset, whether 1INCH or UNI, it is necessary to carefully examine "how well governance works" and "is there sufficient incentives for token holders to participate in governance". And for reference, most of the existing DeFi tokens can be mined continuously by LPs that provide a large amount of liquidity, so you should consider the risk of dumping at any time before investing.

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