Injective (INJ) Trains Guns On $30 After Hitting An All-Time High Of $27 – Details

Injective Protocol's INJ token has recently hit a new all-time high of $27.02. However, it appears that the market is currently in a phase of rest and consolidation, with investors cautiously hopeful yet reluctant to drive prices much higher at the moment.

Timeline of Injective

Injective Price Prediction: Defying the broader market sentiment of uncertainty, the Injective coin entered a strong recovery mode from the second week of December. Amid this rally the coin surged from $16.63 to a recent high of $25, registering a growth of 67.48% in a week.

As the second week for crypto trading began, the market slammed the bullish hopes of traders after bringing remarkable surges for over the past few weeks. Major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana's SOL, along with other significant altcoins, were hit by bearish volatility and opened in a downtrend.

Despite the crypto industry recording a significant correction in value with a drop of almost 4% within the past 24 hours, the INJ price has displayed a massive jump of over 18% in value, resulting in the price recording a new yearly high.

Amid a bearish sentiment prevailing in the crypto market over the past 24 hours, the Injective (INJ) token has managed to turn the tide in its favor. Major cryptocurrencies like Bitcoin, XRP, and Polygon have seen monthly lows, but INJ's bullish momentum has defied the trend.

Injective, the fastest L1 blockchain, has announced the release of its largest tokenomics upgrade yet. The upgrade, called INJ Burn 2.0, will enable any dApp on Injective to contribute to burn auctions.

The Injective (INJ) community has passed a proposal to bring the remittance crypto XRP to their expanding network by listing XRP/USDT. The move will likely bolster available trading pairs and enhance USDT and XRP liquidity within the Injective protocol. Injective's official tweet called public attention to the recently passed proposal.

Injective (INJ) price has been on a 48% tear since Blackrock filed a Bitcoin ETF application with the SEC on June 15. On-chain data shows that long-term investors are doubling down on their bullish positions.

Injective (INJ) has been positive in 2023, racking up a nearly 500% price increase since the turn of the year. This significant rise ranks the cryptocurrency as one of the year's best-performing assets.

Cryptocurrency market players are always in search of gems within the sector. While the industry continues to grow, investors are looking for next-gen alts with impressive profitability potential. Two altcoins, Render Token & Injective, appear as successors of renowned projects like Solana, Polygon, and Cardano.

A widely followed crypto analyst says that one Ethereum (ETH)-based altcoin is flashing signs of bullishness against both the US dollar and Bitcoin (BTC). Pseudonymous crypto analyst Kaleo tells his 590,200 Twitter followers that the decentralized derivatives exchange Injective (INJ) looks poised to outperform Bitcoin (INJ/BTC).