DeFI service provider 1Inch has announced a new partnership with he Bruce Lee Family Company. Under the tagline “Take crypto seriousLee,” the collaboration seeks to raise awareness of DeFi and encourage widespread adoption of cryptocurrency.
The campaign comes at a time when the DeFI sector has seen significant growth, with much more rise anticipated in the future. The news has landed as a positive signal for 1inch’s native token, which saw a rise to $0.2575, up 1.82% as compared to same time last day.
What Will The New Campaign Include?
By highlighting the advantages of the new finance system to prospective new users, 1inch and the Bruce Lee Family Company hope to popularize DeFi and Web3, much like Bruce Lee did with his martial arts films in the 1970s.
“I’ve been inspired by Bruce Lee since childhood, ever since I first took up martial arts,” says Sergej Kunz, 1inch co-founder. “Our project was named after Bruce Lee’s iconic punch. And 1inch has always stuck to Bruce Lee’s values, including integrity, resilience and a serious approach to every endeavor he pursued.”
“Now, partnering with the Bruce Lee Family Company feels like the natural next step, and I hope it will help spread Bruce Lee’s values alongside the benefits of Web3 to a wider audience,” adds Sergej Kunz.
The goal of the campaign is to convince large audiences that cryptocurrency is the financial system of the future and to change the impression of it from one of being only speculative or unserious.
1Inch Token Price Sees Optimistic Growth: Will It Keep Rising In The Future?
Soon after the news about the collaboration landed, the 1Inch token saw a upward growth of nearly 2%. Market participants are now wondering if this growth can continue in the near future as well.
If optimistic sentiments do continue, then by November 27, 2024, the price of 1inch Network Token is expected to increase by 228.91%.
According to technical indicators, the Fear & Greed Index for the token is currently at 69 (Greed), and the sentiment is currently bearish. Over the past 30 days, 1inch Network Token has seen 12/30 (40%) green days and 5.06% price volatility.
However, on the other hand, with seven technical analysis indicators indicating optimistic signals and twenty-two indicating bearish signals, the overall sentiment regarding the price prognosis of the 1inch Network Token is pessimistic.
In case these indicators fail to turn into a positive territory, the likely hood of 1Inch token rising might be less. To determine if a cryptocurrency is overbought (above 70) or oversold (below 30), one common indicator is the Relative Strength Index (RSI) momentum oscillator. Right now, the 1INCH market is in a neutral position, as indicated by the RSI figure of 45.49.