Little Known Crypto Beats Top 100 Rivals With 23% Rally
Injective Protocol’s native crypto, INJ, has been on an impressive winning streak for the past seven days, outperforming every other cryptocurrency in the top 100. With an incredible increase of over 20% in just one week, INJ has captured the attention of the crypto world, with many wondering what could lead to such an impressive increase.
Injective Protocol is a decentralized exchange platform that allows trading of all assets across different blockchains, without centralization or custody. With this innovative approach, Injective has managed to carve a niche for itself in the rapidly evolving DeFi landscape.
The question now on everyone’s mind is whether INJ’s impressive run will continue after Good Friday or come to an end.
INJ price increases with new integrations and partnerships
The crypto has been on an impressive upward trajectory, fueled by recent developments in the platform’s ecosystem. Coingecko’s latest data shows a current value of $5.76, reflecting a remarkable increase of 7.3% in the last 24 hours and an impressive increase of 22.7% in the last week.
One of the key drivers of INJ’s recent rise is introduction of Cascade, the first interchain Solama SVM rollup. This major development paves the way for Injective to unlock the massive $9 billion Solana developer ecosystem. Moreover, the platform’s integration of Pyth, a fast-growing oracle network, has further strengthened its infrastructure and driven investor confidence.
Another important factor behind INJ’s latest price increase is the launch of liquid betting through a partnership with Stride. The move allows INJ holders to stake their tokens while still retaining liquidity, offering a more flexible and lucrative option for investors.
To celebrate the launch of floating staking for INJ, @stride_zone is airdropping 100,000 $STRD tokens to @Injektiv_ strikers!
Be sure to bet yours $INJ to qualify for future airdrops and rewards 🪂 pic.twitter.com/HnOEaf4gve
— Injektiv 🥷 (@Injektiv_) April 4, 2023
To commemorate the milestone, Stride has announced that it will airdrop 100,000 STRD tokens to Injective stakers, adding further value to the platform’s already impressive offering.
Crypto Bullish trend suggests more gains ahead
TradingView charts for INJ indicates a strong bullish trend in recent months. The token has surpassed all moving averages, while the Relative Strength Index (RSI) continues to rise, signaling further potential upside.
Crypto total market cap barely unchanged at $1.14 trillion on a Black Saturday. Chart - TradingView.com
On the daily chart, the crypto has broken through the key resistance level of $5, reaching the highest level since March 18. This impressive feat suggests that the token is likely to continue its upward trajectory in the coming days, as investors set their sights on the next resistance level of $7.
However, it is important to note that further gains at this stage may be limited, as the token has already experienced significant growth. Nevertheless, INJ’s bullish trend and recent breakthroughs in the ecosystem suggest that the platform is gaining momentum and becoming an increasingly attractive option for crypto investors.
– Featured image from Crypto Briefing
