1inch (1INCH) Price Recovers After Slump
The price of 1inch (1INCH) is currently experiencing a recovery rally after a 30% slump that began in mid-August. Investors are attempting to recoup some of the lost ground, resulting in a nearly 20% increase in the token’s value. Despite this positive movement, the network is still dealing with the effects of a bearish fundamental that occurred on September 22.
Bearish Fundamental for 1Inch Token
The recent bearish event for the 1Inch network was a token unlock on September 22. Unlike a cliff event where all tokens are released at once, this unlock releases tokens daily at a stable rate over time. On September 22, 53,570 1INCH tokens were released, accounting for 0.01% of the circulating supply. These tokens were allocated to the team, investors, and VCs. Another unlock event is planned to release an additional 15,000 tokens worth around $3,980. Although the impact on the market is expected to be minimal due to the small volume relative to circulating supply, it does limit the upside potential for the token.
Volatility Expectations and Price Prognosis
With the upcoming unlock event and ongoing volatility in the market, the price of 1inch is trading within a wide range. The fair value gap (FVG) represents an inefficiency that needs to be filled, increasing the likelihood of continued growth if it surpasses $0.2961. However, if it breaks below its mean threshold at $0.2320, it may experience a correction and fall to the support floor at $0.2011. The Relative Strength Index (RSI) also suggests falling momentum, further indicating the potential for a price slump.
Introducing Bitcoin BSC as an Alternative
For investors looking for alternatives to 1inch, Bitcoin BSC is a new project that offers the ideal portfolio diversification. It has already had a successful presale, raising over $5 million and aiming for a target of $6,063,750. Investors can buy BTCBSC using Tether (USDT), Binance Coin (BNB), or Ethereum (ETH). Once acquired, the tokens can be staked for an Annual Percentage Yield (APY) of up to 99%.
Eco-Conscious and Secure
Bitcoin BSC operates on the BNB Smart Chain, which provides benefits such as smart contract capabilities, speed, cost-effectiveness, and security. It uses a Proof-of-Stake (PoS) mechanism where validators secure the network using their token holdings. The project is designed to mimic the early days of Bitcoin and offers market accessibility like never before.
Grow Your Income with BTCBSC
As part of the Bitcoin BSC ecosystem, you can participate in the referral program and earn additional income. By sharing your unique referral link, anyone who joins and makes a purchase using your link will contribute 5% to your wallet. This program allows you to maximize your earnings and be part of the rewards revolution.
Hot Take: Bitcoin BSC Offers Diversification and Income Opportunities
While 1inch continues its recovery rally after a significant slump, investors may consider exploring alternative options such as Bitcoin BSC. This new project provides portfolio diversification, earning potential through staking, and an eco-conscious approach to cryptocurrency. With a successful presale and promising features, Bitcoin BSC could be an attractive choice for those looking to expand their crypto investments.
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