Recently, the INJ coin has been making waves due to its impressive demand. Some believe it will be among the first coins to surge once Bitcoin is ready for its next big move.
INJ, also known as Injective, is a decentralized finance (DeFi) protocol that aims to facilitate peer-to-peer (P2P) derivatives trading across a range of markets. It has been gaining traction due to its unique features and potential for high returns.
TrustWallet, a popular crypto wallet, has recently added support for on-chain INJ staking. This development allows users to access popular validators and earn crypto with some of the best Annual Percentage Rates (APR%) around. Staking in TrustWallet is straightforward, with a wide range of options and more being added regularly.
Despite the positive outlook, some members of the community have expressed concerns about the coin’s performance. The coin recently lost its $8.75 value and now needs to hold $8.00 to form a cup and handle, a pattern that indicates a possible bullish trend. If it fails to hold this value, it could spell trouble for the coin’s future.
However, others remain optimistic. Some have compared INJ’s potential to that of Solana (SOL) and Binance Coin (BNB), citing its supply and All-Time High (ATH) values. The weekly burning of INJ is expected to drive its value upwards, similar to the trend observed with SOL and BNB.
The DeFi season for Injective is reportedly closer than anticipated. Some users have already taken part in testnet campaigns, such as the one by BlackPanther Finance, and have reported smooth experiences. These campaigns typically involve depositing test INJ and USDT in a vault.
Moreover, Injective has recently integrated with Galxe, a leading platform for Web3 communities. This integration is expected to enhance community engagement and expansion, further driving the popularity and demand for INJ.
INJ price performance
The Injective Protocol (INJ) is currently ranked #62 in the cryptocurrency market. As of the latest data, the market cap of Injective is approximately $637,323,180. The coin has seen a decrease of about 5.30% in its value over the last 24 hours, with the current price standing at around $7.96.
The 24-hour trading volume of INJ is approximately $38,752,425, which is a 13.31% change from the previous day. The coin has a circulating supply of 80,088,889 INJ coins out of a maximum supply of 100,000,000 INJ coins. However, the coin’s recent drop in value indicates some volatility in the whole market.
While the future of any cryptocurrency is uncertain, the community’s interest in INJ is undeniable. If Bitcoin reaches a peak of $80k, some predict that INJ could reach $328. Others are even more bullish, suggesting a $533 INJ if Bitcoin hits $130k and INJ follows a similar trend as Solana.
As always, potential investors should conduct their own research and consider various factors before investing in any cryptocurrency. The world of crypto is volatile, and while the rewards can be high, so too can be the risks.
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