24/7 Cryptocurrency News

1Inch Network Token Surges 55% In One Week, Is Altcoin Season Back?

The 1Inch token, which experienced notable overnight gains of 19% and 55% in one week, was the top gainer on the crypto market this morning.
Published by
1Inch Network Token Surges 55% In One Week, Is Altcoin Season Back?

Price of (1INCH), the native token of the 1INCH Network increased by more than 58% before falling on Monday as trade volume reached $597 million, the biggest amount since October 2021. Leveraged 1inch short bets worth $3.37 million have been closed off over the last 24 hours, according to CoinGlass, along with a surge in trading volume.

Advertisement

1Inch Price Spikes Amid Market Correction

The price of the token is currently $0.439, up more than 6% in a single day. While Bitcoin continued to trade in a constrained band between $30,150 and $30,500 over the weekend, the rest of the market remained comparatively quiet with little activity.

The price of the 1INCH cryptocurrency has been progressively increasing over the last week, and it ended with a stunning increase of 42.3%. The primary declining trendline for the altcoin is marked on the chart, and that is what the bulls are presently attempting to surpass.

Advertisement

Bull Show All Over The Altcoin

The desire of buyers to acquire 1INCH tokens has generated a large increase in trading volume of around 400% overnight. The Correlation Coefficient indicator shows that BTC has less of a lead over 1INCH, with a 0.04 reduction in the CC indicator. Despite the sideways trend of BTC, purchasers are anticipated to increase the altcoin’s value.

The most recent rally coincides with a significant increase in trading volume in South Korea, a phenomenon seen during the price increases of both Bitcoin Cash (BCH) and Aptos (APT) in the previous two weeks.

According to CoinGecko data, 1inch was the second most traded coin on Upbit with a 24-hour volume of $360 million, which is more than 15 times the coin’s 30-day average trading volume.

Coinglass statistics show the price increase since yesterday led to short liquidations in the perpetual swap markets worth $2.49 million.

Advertisement

What Is Making The DeFi Bulls Come Out?

The surge is not being driven by any recent news, but 1inch’s rally seems to be continuing the upward trend that XRP started when it won its legal battle with the SEC last week. A day after XRP had a 102% increase, other assets including Solana, Cardano, and Polygon also moved.

According to Coinalyze, the open interest across 1inch trading pairs has increased from $14 million to $125 million, which indicates that the rally has been supported by futures markets. Open interest represents the nominal amount of open derivatives contracts

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction

Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…

October 5, 2025
  • 24/7 Cryptocurrency News

Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement

Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…

October 4, 2025
  • 24/7 Cryptocurrency News

‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications

Nate Geraci, president of Novadius Wealth Management, has predicted that several crypto ETF filings could…

October 4, 2025
  • Bitcoin News

Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model

Bitcoin-backed stocks of Strategy can now be accessed on Robinhood. This represents a significant move…

October 4, 2025
  • Bitcoin News

Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH

The Bitcoin ETFs have seen a huge turnaround this week, recording their largest weekly inflows…

October 4, 2025
  • 24/7 Cryptocurrency News

Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown

Shiba Inu’s Layer 2 network, Shibarium, has returned online following a $4 million exploit that…

October 4, 2025