您现在的位置是:Injective (INJ) price hits new ATH: What’s the catalyst? >>正文
Injective (INJ) price hits new ATH: What’s the catalyst?
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛82人已围观
简介INJ soars to a new all-time high above $27, up 66% in two weeks and over $1,500% in the past year.Wh...
- INJ soars to a new all-time high above $27, up 66% in two weeks and over $1,500% in the past year.
- What’s driving the Injective price higher? Catalysts include upcoming network upgrade, weekly token burn and Helix DEX activity.
The injective (INJ) token is one of the standout performers in the past week, rising more than 60% as its price broke above $20.
On December 12, the INJ price shot to highs of $27 across major crypto exchanges, touching a new all-time high as major altcoins looked to recoup losses seen on Monday.
As Injective looks for continued upside, one of the questions to ask is what has driven this token to its new ATH. Is this rally therefore likely to be sustainable, or will bears spoil the bulls’ Christmas party?
Why is Injective price surging?
The last 30 days have seen the price of Injective’s native token surge by more than 55%, while the steady upswing since the lows reached in December 2022 has included a parabolic rise of 1,570%. In recent weeks, positive ecosystem news have combined with the broader bullish sentiment to send INJ higher.
One of the catalysts this past few days has been Injective’s weekly token burn. The latest of these saw over $65,000 worth of INJ burned, permanently removing them from circulation.
Amid the burn auction, Injective has also witnessed a significant spike in total INJ staked. According to on-chain data, over $1 billion worth of the token has so far been staked.
Over $1 Billion worth of $INJ is now staked on chain.
That’s it. That’s the tweet.
— Injective 🥷 (@Injective_) December 12, 2023
This outlook has put pressure on Injective rising ahead of a recently announced upgrade dubbed Volan. According to the Injective team, this is going to be the largest mainnet upgrade in the layer-1 blockchain’s history.
Injective teased the Volan upgrade on November 30, and INJ price has skyrocketed more than 66% in the two weeks since. Network activity around Injective-based decentralized exchange (DEX) Helix has also contributed to the upward trajectory.
INJ price outlook
As INJ pares some of the intraday gains to trade around $26 at the time of writing, a bullish continuation could see buyer eye price beyond $30. A bearish flip amid broader market retreat could inform the potential slip to support in the $20-$18 range.
Injective INJ price chart. Source: TradingView
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/32836.html
相关文章
Breaking: crypto exchange Remitano hacked for over $2.7 million
Injective (INJ) price hits new ATH: What’s the catalyst?A suspicious transaction involving $2.7 million was flagged at Remitano.Tether has frozen an address...
阅读更多
Ordswap loses control of its website, urges users to recover keys
Injective (INJ) price hits new ATH: What’s the catalyst?Ordswap has experienced a security breach that has led to phishing risks for users’ private ke...
阅读更多
CryptoQuant confirms Binance reserves are accounted for
Injective (INJ) price hits new ATH: What’s the catalyst?Binance has faced a FUD storm in the past few days about its reserves.Binance has also been in the s...
阅读更多
热门文章
- Watch: Google Lumiere AI can turn text into stunning videos
- Kraken move should put crypto industry 'on notice,' says Gary Gensler
- Berkeley researchers build humanoid that taught itself to walk
- SHIB is up by 3% as whale suggests token burn when Shibarium launches
- Ukraine plans to build 4 new nuclear reactors this year
- JP Morgan reports shows 13% of Americans are into crypto
最新文章
Bitcoin price prediction ahead of Fed decision, NFP data
CoinEx set to resume deposits and withdrawals
Ethereum Classic (ETC/USD) prediction as the price recovers 4% in a bear market
Indonesia intends to launch its own cryptocurrency exchange
Chainlink (LINK/USD) losing $6 will be a bear trigger
Blockchain didn't fail, says Pantera's CEO on FTX collapse