The 1inch Network provided an update to its community via Twitter on Monday. According to the team, it burned $1.6 million worth of Ether last week, bringing its total of burned ETH tokens to $107M (29.6K in ETH). it added that 1inch Network currently occupies the 10th place in the TOP-10 of the ETH Burn Leaderboard.
The 1inch Network is a DEX aggregator protocol across multiple chains, including Ethereum, BSC, Polygon, Optimism, and Arbitrum. 1INCH is down by more than 7% in the last 24 hours and is currently trading at $1.493 per token.