Is 1INCH the latest to grab trader interest? These figures reveal that…

The above findings confirmed that Ethereum Layer 2 networks continue to see more transaction activity. This growth was also reflected in the 1INCH token whose performance so far this month has mostly been bullish. In fact, the token has been gaining relative strength since it achieved a new historic low just after mid-August

1INCH exchanged hands at $0.26 at the time of writing. Its performance since mid-August suggests that it may have bottomed out and might be in the early stages of its bullish relief rally. However, the volatile nature of the market does not necessarily suggest that it is off the hook from the bears.The improved relative strength reflected the upside that the RSI has achieved since 1INCH’s lowest price levels. This coincided with on-chain data which revealed that the whales have been buying.

1INCH’s network growth metric also soared to its four-week high on 21 September. This was the same day that 1inch registered its highest spike in daily active addresses during last week’s trading session.

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