E Point Perfect

This Coin Shows Several Anomalies on Its Network, Here’s What They Are


article image

Arman Shirinyan

1INCH shows numerous on-chain signs that might lead to explosive spike in volatility


According to the most recent data shared by Santiment, 1INCH has been showing several anomalies across the network in the past 24 hours. The most notable change in on-chain behavior was the sudden spike in the movement of dormant coins that has reached the highest level in five months.

Massive network growth

In the last two weeks, 1INCH saw a massive spike in network growth. The market saw the biggest spike in more than six months. Such a rapid increase in the number of users and activity remains abnormal, considering the lack of fundamental changes in the project and anemic price performance.

However, the fundamental growth of the network is a positive sign, even from a speculative perspective. With the rising number of users, the network’s revenue will move upward, creating more support for the token’s price on the market.

Negative side of things

Unfortunately, in addition to the abnormal growth of the aforementioned metrics, the network saw a rise in realized losses that have accumulated to a four-month high. However, the rise in realized losses could be a positive sign, considered a capitulation.


With fewer assets held at a loss, bulls will be able to drag the token’s value upward with less resistance ahead. However, the low profitability of the asset may push away a certain layer of speculative traders who aim at a high return in a short period of time.

Generally, 1INCH has been moving in a sharp downtrend for the last few months, mostly replicating the performance of digital assets since the reversal we saw in November 2021. At press time, 1INCH is trading at $0.5.


Source link

Related posts

Dogecoin Founder Reveals What Will Send DOGE to Moon

ADA and BNB Price Analysis for December 3

Cardano (ADA) Trading Goes Live on One of Canada’s Biggest Exchanges

Meme Coins BabyDoge, Dogecoin Chosen by BSC Whales as Top Smart Contracts

SEC Says These Cryptocurrencies Are Securities: See the Full List

Top XRPL Project Makes Big Announcement Ahead of NFT Revolution