Lưu trữ cho từ khóa: Injective

Phân tích

Injective surges 10% as supply held by whales declines

Để lại phản hồi
Injective surges 10% as supply held by whales declines

Injective gained bullish momentum on Wednesday, Sept. 4, after a set of consecutive declines over the past two weeks.

Injective (INJ) is up 10% in the past 24 hours and is trading at $17 at the time of writing. The asset’s market cap is currently hovering around the $1.6 billion mark, making it the 45th-largest cryptocurrency.

INJ price, RSI, supply held by whales and exchange flow – Sept. 5 | Source: Santiment

INJ’s daily trading volume surged 24%, surpassing the $100 million mark. 

Moreover, INJ briefly reached an intraday high of $17.58 amid increased selling pressure from whales.

According to data provided by Santiment, the amount of INJ supply held by whales declined from 94 million on Sept. 3 to 93 million at the reporting time. This movement shows that some whales have already sold their Injective holdings as the price was falling to $15.3.

Data from the market intelligence platform shows that the Injective exchange net inflows have also declined from 49,200 to 6,900 over the past day. The decreasing amount of exchange net flows could hint at lower selling pressure.

This could put the INJ price in the consolidation zone until it gains strong momentum. However, it’s important to note that the market dynamics can change due to numerous factors.

Injective’s Relative Strength Index is currently sitting at 45, per data from Santiment. The indicator shows that the asset is witnessing neutral movements from investors at this price point.

One of the bullish drivers of the INJ price was the company’s launch of a tokenized index that tracks BlackRock’s BUIDL fund’s supply.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

Injective eyes expansion into Web3 gaming with major partnership

Để lại phản hồi

Injective, an interoperable Layer-1 blockchain for decentralized finance (DeFi) applications, is eyeing diversification into the nascent Web3 gaming ecosystem.

On Wednesday, Injective announced its partnership with DEGA, a top game builder platform that’s also deployed on Ethereum, Cardano and BNB Chain.

Injective, a provider of a platform for dApps across decentralized exchanges (DEXs), prediction markets, and lending protocols, will leverage DEGA’s ecosystem to launch its next phase of development via Web3 gaming.

With DEGA, game builders will be able to quickly design and publish games – a new era for GameFi, according to Injective.

The Web3 gaming market continues to witness significant growth, with future projections estimating expansion from .9 billion in 2023 to over 3 billion by 2033.

“DEGA and Injective share a lot in common when it comes to our vision for ease of use, financial inclusion, and artificial intelligence,” DEGA CEO Carlos Rene said in a statement. “We expect this integration to benefit all who participate in either of our ecosystems.”

Injective users to benefit from airdrops, tournaments

As well as expansion into the gaming sector, this partnership is also set to benefit Injective across several community initiatives. These include having Injective games on DEGA, airdrops (such as limited edition Elements & Characters) ambassador events and tournaments and X spaces.

DEGA has announced a reactivation of its “Great Benediction” to celebrate this integration. Per details shared in a blog post, the program returns on Wednesday, June 26 and expected to run until July 3, 2024.

Injective’s partnership with DEGA comes after the blockchain platform also revealed collaboration with Tria, a consumer-first actively validated services (AVS) layer-2 for abstracting gas and unifying liquidity from Web3.

According to an announcement, Tria’s launch on Injective helps to enhance user experience for dApps and users. Tria’s Unchained technology allows for complete gas abstraction as well as cross-chain liquidity unification, giving users more control over payments and assets.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Injective price forecast: INJ chart points to a 46% jump

Để lại phản hồi

Injective price has crawled back since mid-May as traders watch its ecosystem grow after announcing recent events.

The INJ token rose to and is hovering near its highest levels since April 12. It has rebounded by over 60% from its lowest swing in April. Injective, the financial-focused blockchain network backed by Mark Cuban, recently incorporated PYUSD, the stablecoin launched by PayPal. 

In a statement, the developers said that it had become the first layer-1 platform to support the 0 million stablecoin. This integration means that the token can be onboarded from Ethereum and Solana onto Solana. 

This integration was made possible by Wormhole, one of the biggest bridging network in the blockchain industry. 

Meanwhile, Mito Finance, an upcoming liquidity management platform on Injective, launched permissionless vaults. This launch means that users can create their vaults on Mito and start trading. Already, users have created the GME/INJ, ZIG/INJ, and NLT/INJ in the platform. 

Still, Injective’s ecosystem is still significantly smaller than some of its newest peers. According to DeFi Llama, the network has 17 DeFi applications with a total value locked (TVL) of over 9 million. The biggest players in the platform are Hydro Protocol, Dojoswap, Helix, and Neptune Finance.

In contrast, the recently launched Blast network has over .07 billion in assets while Base and Merlin have .68 billion and .17 billion in assets. 

Helix, the biggest DEX in the platform, has seen recent success. According to CoinMarketCap, the platform handled over 1 million in transactions in the past 12 hours, making it the 16th largest player in the industry.

A potential catalyst that could help Helix gain market share in the industry is the continued launch and popularity of meme coins. Recently, Solana meme coins like Bonk and Dogwifhat have helped Raydium, Orca, and Jupiter become top-5 DEX networks.

Injective price forecast

The INJ token bottomed at .66 in April and has now rebounded to over . It has jumped above the crucial resistance point at , its highest swing in April and May and the lowest point in January. 

The 25-day and 50-day moving averages have formed a bullish crossover while the Relative Strength Index (RSI) has formed an ascending channel shown in red.

Therefore, the token’s outlook is bullish, with the next reference level to watch being at , its highest point on January 9th. This forecast implies a 46% upside from the current level.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News