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Messari Reveals 1inch Network’s Unrivaled Volume Dominance in DeFi – Investor Bites

Date:

SNEAK PEEK

  • 1inch Network dominates DeFi with a 59% volume share in Q1.
  • 1inch Network’s adaptability secures its position in DeFi.
  • Arbitrum emerged as the second most popular chain for 1inch Network.

According to Messari, a prominent provider of crypto market intelligence products, the 1inch Network’s aggregator maintained its dominance, capturing 59% of the total aggregator volume in the first quarter of this year. This marked a substantial increase from its 47% share in the previous quarter, solidifying its position as the go-to platform for traders seeking optimal trading routes.

1inch Network’s success can be attributed to its commitment to innovation and responsiveness to market demands. In March, during the USDC depeg, the platform achieved a remarkable milestone by processing an all-time high daily volume of $4 billion. 

This surge in activity resulted in the generation of the third-highest daily Swap Surplus, amounting to $362,000. Additionally, the launch of Fusion mode in December 2022 contributed significantly to the platform’s growth, with $4.7 billion in volume processed in Q1.

While 1inch Network’s dominance is most evident on the Ethereum mainnet, accounting for 59% of the total volume across all aggregators, the platform has been actively diversifying its reach. Among the top chains, Uniswap and Curve Finance on Ethereum mainnet commanded 43% and 24% of the volume, respectively. 

Arbitrum emerged as the second most popular chain for 1inch Network, accounting for 6% of its total volume. This expansion signifies the platform’s adaptability and readiness to meet the evolving needs of users across various blockchain ecosystems.

In conclusion, 1inch Network’s aggregator continues to make waves in the crypto market, cementing its position as a dominant force in the DeFi landscape. Its unrivaled volume dominance, coupled with the ability to adapt to different chains, highlights its commitment to providing efficient trading routes for users. 

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