Analysis

This small-cap altcoin is up 110% in just one day

A small-cap altcoin made an amazing move, doubling in less than a day, while most of the crypto market corrected.

Injective Protocol (INJ) is a decentralized exchange (DEX) that altcoin offers margin trading, derivatives and other services on an extensive cross-chain platform.

The project optimized connections to the Ethereum mainchain while being supported by a Cosmos-powered Layer 2 sidechain infrastructure. Injective’s architecture also allows for zero gas charges while managing network congestion.

INJ is the exchange’s first governance and utility token that acts as collateral, security, incentive and fees. The token caught fire this weekend, skyrocketing from around $4.78 on Friday to $10 the next day, up nearly 110% in just 24 hours.

The token’s parabolic movement coincides with a number of developments, including the Injective team’s announcement that they are working on a new user interface that will allow anyone to list a spot market trading pair simply by listing a spot market trading pair.

The team also announced that it has enabled leveraged trading on its platform with no gas fees on Cosmos Perpetual Futures (ATOM).

INJ has cooled off from its price boom and is currently trading at $6.8.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

28 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

3 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.