1Inch seems to be rallying recording a 10% increase in valuation within 24 hours ahead of an announcement of a new upgrade to its network.
1Inch seems to be on for a good day according to CoinMarketCap data amid a new wallet development on the network. 1Inch, currently trading at $0.56, has seen an increase of over 10% in price valuation within a 24-hour period as of press time.
The trading volume has increased by over 450% showing the amount of increased activity being witnessed in the asset’s network. 1Inch has a current market cap of $853,681,628, representing a 10% increase within the same period.
1Inch 24-hour charts | Source: CoinMarketCap
1Inch network’s new development
An upgrade to the 1inchWallet software, developed by the decentralized exchange aggregator 1inch, which adds support for the Ledger and WalletConnect v2 protocols could be the primary reason for this surge. This change should make interacting with cryptocurrency easier and safer for consumers.
Ledger is a widely used hardware wallet for securing cryptocurrency holdings. With the latest version of the 1inchWallet app, customers may manage their assets directly by connecting their Ledger wallet to the app. This guarantees that consumers have full access to their cash while still enjoying the 1inch platform’s speed and simplicity.
The upgrade also adds help for the WalletConnect v2 protocol, which facilitates encrypted, trustless interactions between wallets and distributed apps. This integration makes it possible for users to safely and conveniently access a wide range of DeFi protocols and decentralized applications (dApps) without leaving the 1inchWallet app.
The current upgrade is a reflection of the 1inch team’s dedication to providing the best possible service to its customers. By supporting Ledger and WalletConnect v2, 1inch has made it easier and safer for users to store and access their cryptocurrency holdings.
The new version of the 1inchWallet app is a major step forward for the cryptocurrency industry as a whole. Ledger and WalletConnect v2 work together to provide consumers with a safer and more streamlined way to manage their digital assets.