If another extended rally, it should test the next major resistance level at $4.56. INJ saw a decline in its price from $24.8 to around $0.9, with an over 90% drop from its all-time high despite having good fundamentals. The price of INJ bounced off after touching a weekly low of $0.9, and the price rallied to $1.7, showing some great strength. Many members buy and hold their Injective Protocol as a long-term investment. You can hold your Injective Protocol in your free multicoin wallet on Cointree or transfer it to a private wallet.
- This is where the decentralized order book is hosted and everything included with the execution of orders.
- When it comes to investing in INJ, you need to make sure that you are using the right strategy.
- DCG has no operational input into the selection or duration of CoinDesk content in all its forms.
Injective brings power back to the people by enabling truly free and decentralized trading for everyone. Most investors find it best to apply both technical and fundamental analysis techniques when evaluating a purchase or sale. The table above shows the price and ROI of Injective Protocol today and previous years on the same date . In May 2022, Injective partnered with cross-chain bridge Wormhole to add 10 new blockchains to its protocol, including Solana, Avalanche and Polygon.
The percent change in trading volume for this asset compared to 7 days ago. The percent change in trading volume for this asset compared to 1 hour ago. Extended sell-off sub $2.67 throughout the day can bring the second major support at $2.11 into play.
Injective Chain, Injective Exchange, and the Injective Futures platform are the three main components of the Injective Protocol. On the daily timeframe, the price of INJ is currently trading at $1.6, holding above the 50 Exponential Moving Average , acting as support for INJ price. Digitalcoinprice.com needs to review the security of your connection before proceeding. Compare INJ pairs across exchanges to get the best price for your portfolio. Injective Protocol is a fully decentralized Layer-2 DeFi protocol, also a robust, highly parameterizable DeFi protocol supporting a diverse array of derivatives including CFDs, perpetual swaps and more.
The Injective Protocol allows cross trading of derivatives and CFD’s and provides traders with better liquidity, more efficient transactions and no gas fees. This project can possibly change the way we see DEXs and it also allows people to create and run a variety of dApps on their Injective Chain. Simply put, https://cryptolisting.org/ Injective Protocol allows you to access markets which maybe aren’t available on other exchange platforms. Injective Protocol’s current circulating supply is 73.01M INJ out of max supply of 100.00M INJ. The current yearly supply inflation rate is 50.05% meaning 24.35M INJ were created in the last year.
You can instantly trade any portion of your Injective Protocol for any other digital currency within just a few clicks, and at the lowest rates in Australia. The INJ token is used to provide proof-of-stake security, as collateral for derivatives, for governance, and to incentivise market makers. The protocol was founded in 2018 by Eric Chen with support from Binance labs. The price of Injective Protocol will increase as more investors get involved in the project.
In terms of market cap, Injective Protocol is currently ranked #23 in the DeFi Coins sector and ranked #7 in the Layer 2 sector. Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms.
The price of INJ on the weekly chart needs to build more volume as the price is faced with resistance at $1.9, unable to trend higher. INJ’s price needs to break out with good volume for the price to have a good chance of trading higher above $1.9 and possibly to a region of $2.5. Injective Protocol has had a tough time seeing its price shed over 90% from its all-time high of $24.8 against tether .
In October 2021, Injective released a front-end interface called Injective Pro. It restricts U.S. users to comply with Commodity Futures Trading Commission guidelines. However, its back end is permissionless, meaning that U.S. traders can still use the protocol. Cryptoassets are highly volatile and unregulated in some EU countries and the UK.
Injective inj Price
Injective allows users to create and trade their own financial derivatives on any blockchain network. It enables decentralized trading of futures contracts on multiple blockchains. This makes it possible for users to trade all kinds of digital assets, including tokens, futures, perpetual, and sophisticated financial derivatives.
The Injective protocol has three main parts to it and it all starts with the Injective Chain which serves as the backbone of the whole platform. This is where the decentralized order book is hosted and everything included with the execution of orders. The second important feature would be the Injective Exchange which is completely public and can be used to trade tokens. The exchange works through investors as they provide liquidity to the platform and receive rewards for their efforts.
Injective Price Chart (USD)
This means that the government can’t cause inflation – devaluation of the currency – by firing up the printing presses. Since the crypto community continues to use the Injective Protocol and its token it is deemed safe enough. Like any other crypto platform, they do have security measures in place.
Every two weeks, the protocol sells 60% of the trading fees it accumulates for INJ, then burns that INJ to deflate the token’s total supply. The Injective price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies. Analysis was done on daily data, so all moving averages, RSI, etc.., were calculated on a daily Injective Protocol price chart. To see more analysis and outlook please check the Injective Protocol price prediction page.
That means analyzing the price history to look for recurring patterns and indicators that the price of your investment is more likely to rise than to fall. Cryptos have managed to draw a larger following in the last couple of years because some tokens had a large price increase. We have also witnessed that some countries and E-commerce platforms offer cryptos as a payment option, However, this doesn’t change the way that their legal status varies from one country to another. Click here to check the legality status of cryptocurrencies by country. The main use of INJ token within its own network is governance as the holders have the right to vote on any potential changes to the protocol.
Any data,text or other content on this page is provided as general market information and not as investment advice. In terms of price, Injective Protocol has an outstanding potential to reach new heights. According to specific experts and business analysts, Injective Protocol can hit the highest price of $347.21 till 2030. The coin is up by 76.71% with the maximum average price of the coin was around $1.86 and the minimum average price of was around $1.71 in past 4 months. Coinpaprika.com needs to review the security of your connection before proceeding. An overview showing the statistics of Injective Protocol, such as the base and quote currency, the rank, and trading volume.
Despite recently seeing a huge pullback in the crypto market, Injective Protocol continues to show immense strength, racking up double-digit gains. You should consider whether you fully understand them and whether you can afford to take the high risk of losing your money. The content of Coin Insider does not constitute any type of investment advice. Quickly compare the past seven days’ price movements of Injective Protocol with other cryptocurrencies. Injective Protocol’s value is expected to continue to expand, as shortage tends to encourage price rise. Just invest in what you can accomplish before coming to any conclusions and conduct the maximum research possible.
The top crypto exchanges that have Injective Protocol available for trading, ranked by 24h trading volume and the current price. The below Injective Protocol price chart tracks the price of Injective Protocol against AUD over time. The rate shown is indicative only as actual buy / sell rates depend on market liquidity and fees at the time of quotation. Injective Protocol’s price quote is based on transactions taking place at each exchange. The trading volume and liquidity are different for each exchange, and those differences affect the price.
NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. To buy INJ you can go to your preferred exchange and look up the list of supported tokens. The major exchanges which hold the token make it available for purchase either with fiat currency or other digital assets. A list of the top Injective Protocol markets across all crypto exchanges based on the highest 24h trading volume, with their current price.
INJ Token Holders (Updated: 23 hours ago)
Injective is a layer 1, or base layer, protocol built on Cosmos, a blockchain network that rivals Ethereum. Unlike Ethereum, Cosmos protocols run on independent blockchains with their own set of validators. The blockchain powers a decentralized exchange that offers perpetual swaps – a futures contract that never expires – futures and spot trading, among other services. INJ is the native token of Injective Protocol, a blockchain protocol optimized for trading assets across different blockchains. It specializes in tokenized derivatives, including stock tokens – cryptocurrencies pegged to the price of stocks like Apple and Google.
Crypto Industry Could Add $184B of Economic Value to India by 2030: NASSCOM
If you want to invest in the Injective Protocol, make sure you only invest an amount you are willing to risk. Injective launched the token with an initial supply of 100 million INJ tokens. It aims to increase these over time through block rewards – where new INJ tokens are issued to those inj coin price that validate batches of transactions on its proof-of-stake side chain. INJ’s market cap sank to about $120 million when the token crashed in May 2022. So did Injective’s total valued locked , which cratered from highs of $182 million in February 2022 to $64 million in June 2022.
The table above shows the number of days which Injective Protocol closed above a certain price level. Transactions are coming from the popularity of the recently deployed Ordinals protocol, which allows for NFT-like tokens to be stored on-chain. The percentage of Binance customers who increased or decreased their net position in BTC over the past 24 hours through trading. The lowest price for one INJ recorded in our base is $1.19 in Jul 2022, 6 months ago. INJ will need to avoid closing below the 2.67 level to make a move to the first major resistance level at $3.97.
The Injective Protocol price today is $3.22 USD with a 24 hour trading volume of $39.49M USD. The INJ exchange rate is decided by supply and demand on cryptocurrency exchanges. When more people are buying Injective Protocol than selling it, the price goes up. The live Injective Protocol exchange rate varies from moment to moment as transactions take place on exchanges all over the world. Given the volatility of cryptocurrencies, prices can rise or fall significantly in a short period.
Common Injective Protocol questions
Two of the most commonly used are technical analysis and fundamental analysis. The fastest, most convenient way to make a purchase is to buy INJ at Kriptomat. For instructions, check out How To Buy Cryptocurrency and Keep It Secure. The article is part of Kriptomat’s Learn project, which provides clear, brief explanations of crypto terminology and investing strategies. To use the Injective Protocol you will need to first go to their website and connect a wallet so you can stake on the network.
However, after the comparing the current price with past 30 days price history, it is observed that Injective Protocol has increased 81.082% in its value. The average minimum price for the month is $1.41 while maximum average price was $1.57. This implies that this coin is a suitable asset and a new addition to your portfolio of coins for long term.