1Inch investors making long bets can consider this update

Let us take a look at how this non-custodial DEX aggregator has fared in the last few months.clinched an all-time high of 196,570 last November.

However, with the first half of 2022 marked by a downturn in the general cryptocurrency market, 1Inch was impacted as the platform’s index of users logged per month declined. In July, the platform registered a total of 94,263 users. So far this month, 57,004 users have visited the network.Weekly active users on the network also peaked last year. According to data from Dune Analytics, between 19-25 October,Since then, weekly users on the network have dropped. In the past week, the count of users on 1Inch stood at 33,976.

By July 2022, total transactions processed had fallen by 24% . So far this month, 56,647 transactions have been processed on the network.Despite the declines logged by 1Inch in the last few months, total revenue made by the network has grown steadily.As of 13 August, total revenue made by the network stood at $23.2 million.As for the network’s native token, 1INCH, its price has rallied by 27% in the last 30 days.

At press time, the token exchanged hands at $0.83. There has, however, been a price/volume divergence since 29 July, indicating buyers’ exhaustion.Subscribe to get it daily in your inbox.

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