1INCH: Everything About DeFi Protocol’s Q3 Performance

1Inch noted a substantial blow in revenue and trading volume in the third quarter. That comes as the alternative token succumbed to the broad market crash, according to Messari’s new report. The 1INCH Platform is a DeFi (decentralized finance) house in multiple blockchains, including Aurora, Klaytn, Fantom, Gnosis, BNB Chain, Avalanche, Polygon, Optimism, Arbitrum, and Ethereum.

Messari analyzed the DeFi protocol’s Q3 performance in the new report. It discovered that 1inch’s trading volume declined by 45% from July to September. Furthermore, that timeframe saw overall trading volume on the network’s several deployments decline to $27 billion from $49.5 billion.

Surprisingly, Messari noted that the trades count stayed flat on QoQ (quarter-on-quarter), despite the massive trading volume crash. Meanwhile, 1inch’s A3 revenue from its ten deployments. Meanwhile, that accounted for an 84% slump from Q2’s revenue of $6.75 billion.

Surprisingly, 1INCH had its revenue increasing by a staggering 92% in the 2nd quarter, regardless of the turmoil the overall market experienced amidst Three Arrow Capital and Terra collapse.

1Inch in 3rd Q

Meanwhile, 1Inch was among the worst-performing projects in the marketplace. For instance, the alt endured massive price volatility during the July crypto market bullish correction that saw many digital assets recording impressive 31-day gains. Nevertheless, the alt recorded a sharp upsurge during July’s final days before ending the trading month near $0.79.

Continued upsides saw it peaking at $0.88 on August 14. Nevertheless, bulls could not sustain the rallies, and 1INCH spent the 3rd quarter with price plummets. The alt lost 13% by September 30, hitting the lows of $0.58 from Q3 opening at $0.67.

Before Executing Your Next Trade

1INCH changed hands near $0.5746 during this publication. The alt surged 1% within the past day. The timeframe saw its trading volume gain by 43%. Declines throughout the year have the asset trading around its December 2020 levels.

The daily chart shows a buying momentum rally, though slow. While publishing this blog, the RSI (Relative Strength Index) maintained an uptrend, reading 46.39, inching towards the neutral-50 during this writing. Also, the MFI (Money Flow Index) stood at 51.62, resting beyond the neutral line.

Nevertheless, sellers dominated 1INC during this writing, despite the buying pressure surge. The DMI (Directional Movement Index) confirmed the narrative. The seller’s strength stayed beyond the buyers (18.48), reading 21.44.

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