The 1 inch token exchange collector aims to offer customers the best prices and lowest fees for their trades.
According to the TokenUnlock process, the acquisition will leave the 1INCH Network token worth more than $111.5 million as of December 30. According to the platform, more than 111.5 million dollars represents about 222,187,500 1INCH or almost 15% of its supply.
1INCH released its logo in December 2020, with only 6% going to general media. The network has covered a total of 1.5 billion. Tokens will be released from availability every two years until December 2024. The next acquisition on December 30 will be the second and last one for 2022.
According to CoinMarketCap, there are approximately 780 million tokens in circulation at the time of writing. Currently, the redemption contract holds approximately 780,840,748 1INCH. After opening, about 890 million 1INCH will be distributed by January 2023, representing 59% of the total network.
The Price of the 1INCH Token Will Fall
The last 1 INCH token unlock event was in June this year. During this period, the trading price of the coin fell by more than 25% from $0.81 to $0.60. According to reports, one whale deposited more than 15 million 1INCH on Binance a few days before the opening event in June.
On December 2, Etherscan reported that the same whale had deposited more than 15 million 1INCH. On December 2, prices fell about 3% following this recent filing.
There is a strong belief that the coin will continue to fall as the acquisition event approaches. However, representatives from the 1INCH network explained that the transfer of 15 million tokens was not theirs.
The coin may fall further after acquisition. When a large number of coins are added to the market at the same time, their number increases, exceeds the actual demand and causes the price increase. This can instantly increase the price of 1 INCH, causing it to lose even more value.
1 INCH PRICE ANALYSIS
The price of 1INCH Network today is $0.3891, with a market value of $582 million and a 24-hour market increase of 61.33%. Now it’s worth $18 million. At the same time, the circulating supply is about 780,840,748 1INCH.
In the last 24 hours, the price of 1 INCH has decreased by 4.46%, reaching $0.3891 at the time of writing. Many people in the community think that the upcoming opening will cause the DEX token to stop.