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1INCHUSD trade ideas

The Rise Of Decentralized Exchanges (1INCH)Dear TradingView Friends, Decentralized exchanges (DEX) are a unique new technology native to the cryptocurrency space. Before this (even in traditional finance) all that we have known are centralized exchanges or brokers. 3rd Party platforms or companies where we need to deposit funds to before we can make any sort of trades and ultimately always being completely at the mercy of that platform or broker. When cryptocurrency started out and for most of its history, we’ve also only known centralized exchanges like Coinbase, Bitstamp or Binance (and many others) where we need to deposit fiat in order to be able to buy or trade cryptocurrencies. The problem with centralized cryptocurrency exchanges is that there is even less certainty and security of ownership of your funds with them. Most of these exchanges are likely not even officially regulated with the appropriate licenses, meaning that whatever funds or cryptocurrency that you hold on an exchange is completely at risk and at mercy of the exchange. DEXs change the game completely. A DEX is an exchange with no centralized ownership or control. It’s merely a platform that allows users to trade cryptocurrency without giving up ownership of their funds. This is done by allowing the user’s funds to stay within their own wallet that they control with their own private key (e..g Metamask), but connecting that wallet to the DEX to allow trading under the users control. In other words, the DEX has no ability to lock your account or freeze your funds. The reason why centralized exchanges are so popular is because of liquidity. For every buyer there needs to be a seller, without liquidity there would be no market. This is a big reason why it took so long for DEXs to grow in popularity because there simply was little to no liquidity meaning it was just not possible to trade (especially at large sizing) on a DEX. That is slowly starting to change, and as more participants join the crypto market and more liquidity gets added to DEXs, they are starting to gain more market share. The DEX that got an incredible amount of attention and basically “kick-started” the DEX movement was Uniswap. It had a very basic yet simple interface and made it possible for anyone to connect their Metamask wallet and trade ETH for other ERC20 tokens in a completely permissionless way, without any form of KYC needed. After the huge success of Uniswap, competitors started to emerge, some more successful than others.But keep in mind, the first version of something (especially in tech) is usually not the best or most efficient version. Competitors who come after the first mover have the advantage of being able to study and learn from the first-mover’s mistakes and improve on things to make a better version. 1INCH is a competitor to Uniswap and could have a lot of upside growth potential to capture more of the market. What is 1INCH? 1INCH is a fairly new decentralized exchange (Dex) dAPP. Since we already covered what a DEX is and why these DEXs are growing in popularity, let’s get a quick understanding of what 1INCH is. In their own words: “The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest and protected operations in the DeFi space.” Source: 1inch.io 1INCH uses a combination of different decentralized protocols and brings them together to create the best DEX experience for users. This is very important because as easy as Uniswap is to use, it’s also lacking a lot of features I’d personally want to see so this is where 1INCH could improve on that. The Aggregation Protocol: “The protocol provides aggregation information services on exchange protocols and networks. The core part of the protocol is the 1inch v3 smart contract, which performs runtime verification of transaction execution. As a result, user funds can't be lost even in case of interaction with an unsafe liquidity source. Since the smart contract ensures security, the protocol can be used in various aggregation information services, such as Pathfinder, developed and run by the 1inch Network.” Source: 1inch.io The Liquidity Protocol: “Earn with 1inch by providing liquidity to pools and collect extra rewards in 1INCH tokens for participating in liquidity mining programs.” Source: 1inch.io Liquidity is the essential ingredient for any DEX to work, so having a well-incentivized reward program for users to supply liquidity is crucial for 1INCH to continue to grow. The DAO “A decentralized autonomous organization (DAO), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government” 1INCH has their own DAO that governs the network parameters which enables the holders of the 1INCH token to vote for key protocol parameters and in return collect governance rewards. This DAO system allows the community members to participate, benefit and vote for various protocol settings without lengthy voting periods. In other words, it’s a more fair and efficient system of governance (this feature will only launch in 2022). How Does 1INCH work? 1INCH currently supports both the Ethereum network and the Binance smart chain. You can connect to the 1INCH dApp with several different wallets (my favorite at this time still being Metamask). Simply accept the terms of service, choose your network, connect with your wallet and you’re ready to start trading. 1INCH Team There are currently more than 50 contributors to 1INCH, you can see a full list of the contributors and further links to their LinkedIN profiles here: Source: 1inch.io 1INCH Finance & Partnerships 1INCH has a very impressive list of stakeholders which you can learn more about 1inch.io One of the reasons I think that 1INCH has an increased chance of success is that it’s backed by Binance Labs. “Binance Labs has recently led the $2.8 million funding round for decentralized exchange aggregator 1inch. This is part of the ongoing effort by Binance Labs to support some of the most impactful startups in the DeFi space.” 1INCH also has a serious investment from Pantera Capital. “Pantera Capital Leads $12 Million Investment Round for 1inch, a Non-Custodial Crypto Exchange Aggregator” Money and funding alone doesn’t guarantee any sort of success, but having access to this sort of capital as well as the investors and companies backing them really gives 1INCH a strong vote of confidence in my opinion. 1INCH Token Details “The 1INCH token enables protocol governance, allowing 1INCH stakers to vote for and receive rewards. The token is applied in different capacities in the two existing protocols and will be used in the tokenomics of all new protocols released by the 1inch Network. 1INCH is a multichain token, currently available on Ethereum and on Binance Smart Chain (BSC) over a bridge.” 1INCH is currently an ERC20 token with a circulating supply of 159,916,877 tokens and a maximum supply of 1,500,000,000 tokens. “On the release day, 6% of the 1INCH token's total issuance of 1.5 bln was unlocked. The remaining tokens will be gradually unlocked over a four-year period through December 30, 2024.” “30% of the total token supply will go to community incentive programs. Another 14.5% form the growth and development fund that will be used to issue grants and incentivize developers to build on 1inch protocols. The remaining tokens will go to backers and core contributors.” Where To Buy 1INCH Tokens 1INCH can be purchased on several exchanges, including Binance.com, Kucoin and Coinbase Pro but also on the decentralized exchanges 1INCH and Uniswap. How To Store 1INCH Tokens It’s possible to store your ERC20 1INCH tokens using Ledger or Trezor in combination with Myetherwallet.com, on Metamask or any other wallet that stores ERC20 tokens. Make sure that you have the ERC20 version of 1INCH if you plan to store it in an ERC20 wallet and the BSC version if you plan to store it on a BSC wallet. Potential Dangers For 1INCH As with all cryptocurrency projects, because the space is so new there are a lot of risk factors associated with being among the first in an industry to develop and build new technology and infrastructure (safety and security for users being a very important factor). There is a lot of competition in the DEX space and it will be crucial for 1INCH to capture enough of the market and users to be able to continue to grow and have future success. If they fail to become a long-term popular exchange it could be detrimental for their whole business model and of course as a result for the value of the 1INCH token. There are also potential dangers of a legal and regulatory nature (which I’d assume are very real for a project that’s allowing people to trade cryptocurrencies in a decentralized way without any form of KYC). I have no idea if this will cause problems for their ability to continue to operate, so it’s definitely something to be cautious of. How To Store 1INCH Tokens It’s possible to store your ERC20 1INCH tokens using Ledger or Trezor in combination with Myetherwallet.com, on Metamask or any other wallet that stores ERC20 tokens. Make sure that you have the ERC20 version of 1INCH if you plan to store it in an ERC20 wallet and the BSC version if you plan to store it on a BSC wallet. Potential Dangers For 1INCH As with all cryptocurrency projects, because the space is so new there are a lot of risk factors associated with being among the first in an industry to develop and build new technology and infrastructure (safety and security for users being a very important factor). There is a lot of competition in the DEX space and it will be crucial for 1INCH to capture enough of the market and users to be able to continue to grow and have future success. If they fail to become a long-term popular exchange it could be detrimental for their whole business model and of course as a result for the value of the 1INCH token. There are also potential dangers of a legal and regulatory nature (which I’d assume are very real for a project that’s allowing people to trade cryptocurrencies in a decentralized way without any form of KYC). I have no idea if this will cause problems for their ability to continue to operate, so it’s definitely something to be cautious of. My Personal Thoughts: 1INCH is a fairly new token so there is not a lot of price history to work with. It’s possible the 1INCH price has formed a slight wedge pattern here, prior to the recent dumop, of which a sustained breakout to the upside could take us to the $11 level within the next months if not weeks. However the recent failed break to the upside brought us in to the sub $4 range which is a huge buying opportunity for a potential 400% ROI. I suspect the short term price action of 1INCH will depend a lot on whether or not Bitcoin moves higher or not in the short term. Stay ahead of the masses, Seth
BINANCE:1INCHUSDLong
by smaniscalco
2
1INCH MANIPULATION INCOMINGHey, Alkalites! Our high-caps finally rebounded from the last dip! Let's continue this bull run! We have been waiting since today's London opening to spot Altcoins opportunities. Luckily, we came across 1Inch, which seems to be in the right place to be manipulated. Today we will place our entry triggers in 1Inch. With a Fully Diluted Market Cap of 10Billion, we believe it has incredible long term potential since we have found a real use case in its swapping technology. Through our manipulation approach, you can see below where we expect retail and whales to enter the market. You should follow the DCA strategy to become a 1Inch adopter safely. 1Inch offerS a decentralized swapping platform that combines several exchanges in one to find the best rates. Would you use 1Inch? Do your own research, #1Inch Have a good Wednesday, Alkalites.
COINBASE:1INCHUSDLong
by CryptoAlkaline
4
1INCH Time for the next bullish impulse up Hi traders: We can see 1INCH here had a strong bullish impulse up, and follow by a correctional structure. This is a good indication that price is correcting for the next impulse phrase. We can see some clean LTF price action, a decending channel, follow by a reversal impulse up, and now potentially breaking out. As usual, wait for a LTF continuation correction here would be ideal to push the price into the next bullish run.. Thank you
BINANCE:1INCHUSDLong
by jojofang0901
52
1INCH – Potential 42% gainsBUY: 4.460 – 4.775 TARGETS: 1) 6.38 2) Trail stop and let it run STOP: When a 4h candle closes below 3.88 Rationale: -Price has been trading below a key resistance zone and just broken above -after breaking resistance it tapped the trendline support and fell back to the earlier resistance zone. -Price re-tested this area and bounced off, confirming it is now acting as support -Price is holding well above EMAs which is bullish -Price should now test the trendline resistance again, and once it break it, price will move to the previous high. Your risk, your reward. This is not financial advice. Happy trading.
FTX:1INCHPERPLong
by ForgeTrades