1inch Soars with $30B Volume, Secures 64% of Ethereum DEX Aggregator Market: Report
1inch is currently operating on Ethereum, Arbitrum, Optimism, Polygon, zkSync Era, among other networks.
1inch experienced a substantial surge in volumes and market dominance in the fourth quarter of last year amidst a broader market resurgence,
According to Messari’s report, the popular DEX aggregator recorded over $30 billion in executed volume and a commanding 64% share of the Ethereum DEX aggregator market. The nearly doubled volume from external sources suggests increased adoption of 1inch as a backend solution and the expansion of aggregator platforms.
1inch Sees Increased Trading Activity in Q4
Transaction growth is primarily attributed to new products, as evidenced by increased activity in the Limit Order Protocol (LOP) and 1inch Fusion , while transactions in the Aggregation Protocol witnessed a decline during the quarter.
The share of 1inch trades conducted on Uniswap V3 and V2 saw an increase by 8 and 3 percentage points, constituting 40% of trades and 8% of trade volume, respectively. The volume generated by 1inch on these two Uniswap versions rose from $5.6 billion in Q3 to $10 billion in Q4, Messari’s report noted.
The share was mainly derived from Curve and Dodo, the second and now sixth most common execution venues. PancakeSwap continued to receive over $1 billion in trade volume from 1inch for the second consecutive quarter, accounting for 7% of 1inch’s total volume in Q4.
During the period, 1inch experienced notably greater volume growth compared to its counterparts, leading to an expansion of its market share from 59% of trades in Q3’23 to 63% in Q4’23.
The sole significant competitor to gain market share in Q4 was CoW Swap, holding 11% of the aggregator volume on Ethereum during the quarter. ParaSwap and 0x, in turn, held 11% and 10% of the aggregator volume, respectively, in Q4.
1inch DAO
Throughout Q4, the 1inch DAO continued its strategic treasury management, diversifying its stablecoin holdings by swapping a million USDC for DAI. These funds were then deposited to earn interest as sDAI, constituting the first reallocation since the Q2 deposit of 1 million USDC in Aave for interest.
On the expenditure front, the DAO used slightly over $1 million in three distinct transactions. Notably, on December 30, $890,000 USDC was allocated to fund support services for users within the 1inch Network.
Meanwhile, the staked amount of 1INCH saw a 7% increase in the fourth quarter.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AMD reports 3.3 million Class A share stake in SpaceX
Berkshire Hathaway, under Abel’s leadership for six months, significantly increases its holdings in Google; Class A shares rise to top five positions, with Q2 adding to airline and real estate stocks
In the second quarter, Berkshire Hathaway's holdings in the two classes of Alphabet, Google's parent company, increased by more than $17 billion in total market value. Among them, Class C shares rose more than sixfold from the first quarter, making it into the top ten holdings for the first time, while Class A shares increased by 45% and became the fourth-largest holding. The stake in Delta Air Lines, a new position in the first quarter, was increased by 44%, with an additional $2.6 billion in market value. The holding in real estate stock Lennar grew by 25%. Meanwhile, Berkshire further reduced its position in Bank of America, with a decrease of $1.72 billion in market value for the quarter; Capital One, a financial stock, was cut by 58%, and the holding in steel company Nucor was halved. Apple remained the top holding, with the position unchanged for two consecutive quarters.
AI financing concerns ferment, Broadcom plunges 7% intraday, $370 billion potential risk rings alarm
According to estimates by Bank of America, Broadcom’s chip financing projects could result in approximately $370 billion in senior debt by mid-2029, providing funding for 20GW of computing power, with around $150 billion in new debt potentially being added in 2027 alone. While Bank of America does not question Broadcom’s business fundamentals, the market is beginning to realize that if future AI computing power demand increasingly depends on massive financing platforms, the valuation logic of the AI industry chain must also simultaneously consider asset residual value, customer default rates, debt costs, and supplier guarantee obligations.
‘We proved them wrong’: Tether lands KPMG’s first ‘clean’ audit opinion
Crypto prices
More
