1Inch Value Reaches New High As DEX Aggregator Aims DeFi Dominance

The 1Inch value reaches a new high today as the series protocol upgrades and liquidity integrations show that the DEX aggregator aims to increase the DeFi dominance on the market as we can see more in today’s crypto news.

As the decentralized finance ecosystem evolves and expands to encompass the entire crypto sector with the race to become the top decentralized exchange and it also started heating up some new entrants on the market to emerge on a weekly basis. One of the top DEX aggregators that recently saw its price surge was 1Inch.

#MDEX x #1INCH

We are happy to announce that @1inchNetwork aggregated liquidity of #MDEX on #BSC #1inch: A distributed network for decentralized protocols enabling the most lucrative, fastest, and protected operations in #DeFi pic.twitter.com/Z3keYCxvcQ

— Mdex.com (@Mdextech) May 6, 2021

1INch is a protocol that offers access to most liquidity, low slippage, and best exchange rates across Binance Smart Chain and Ethereum according to the project’s website. The data from Tradingview shows that after hitting a low of $5.15 on May 5, the 1Inch value increased by 47% and hit a new ATH of $7.55. The recent price growth experienced by 1Inch was sparked by the latest announcement that the protocol aggregated the liquidity available from the rising MDX Defi ecosystem which operates on the Binance Smart Chain.

The new integration helped to expand the reach of 1Inch and to solidify the position as the most widely integrated DeFi aggregator up to this date. The announced integration of the MDEX liquidity was followed by the release of 1Inch wallet that offers the users a friendly entry point to Defi. At the same time, the team also announced that it will be partnering with the Wirex digital payment platform to help migrate 20% of the WXT token supply from the Stellar network to the Ethereum network.

🚀 #1inchWallet launches on @ProductHunt 🎉

⤵️ Feel free to leave your #feedback and ask any questions to the 👨‍💻 developers!#DeFi #1inch #iOS #cryptotradinghttps://t.co/h5np5T4EkX

— 1inch Network (@1inchNetwork) May 6, 2021

These developments helped 1Inch rally to a new record high of $7.55 before profit-taking dropped the price as low as $6.30 during the early trading hours on May 7. After the price pullback, as a testament to how the protocol works to integrate new upgrades, the team announced that it integrated Uniswsap V3 which launched a few days ago. As a result, 1Inch price rallied 13% after the announcement to $7.13.

While the price charts were trading sideways It headed into the first week of May. The project’s recent integrations into the Binance Smart Chain are all signals that the project is leading the way for automated market-making and DEfi yield opportunities in the crypto space. Each of the developments suggests the token is in a good position for further upside.