As the decentralized finance (DeFi) ecosystem evolves and expands to encompass the whole of the cryptocurrency sector, the race to become the top decentralized exchange (DEX) aggregator is heating up as new entrants to the field seem to emerge on a weekly basis.
One of the top DEX aggregators that has recently seen its price reach a new record high is 1INCH, a protocol that offers “access to the most liquidity, lowest slippage and best exchange rates across Ethereum and Binance Smart Chain” according to the projet’s website.
New liquidity integrations spark the rally
The recent price growth experienced by 1INCH was sparked by the May 6 announcement that the protocol had aggregated the liquidity available from the rapidly rising MDEX DeFi ecosystem which operates on the Binance Smart Chain (BSC).
We are happy to announce that @1inchNetwork aggregated liquidity of #MDEX on #BSC #1inch: A distributed network for decentralized protocols enabling the most lucrative, fastest, and protected operations in #DeFi pic.twitter.com/Z3keYCxvcQ
— Mdex.com (@Mdextech) May 6, 2021
This new integration helped to further expand the reach of 1Inch and solidify its position as the most widely integrated DeFi aggregator to date.
The announced integration of MDEX liquidity was quickly followed by the release of the 1INCH Wallet which offers a “user-friendly entry point to DeFi.”
— 1inch Network (@1inchNetwork) May 6, 2021
At the same time as the wallet was revealed, the team also announced that it would be partnering with the WireX (WXT) digital…