Little-Known Crypto Beats Top 100 Rivals With 23% Rally On Good Friday
07 Abril 2023 - 8:00PM
NEWSBTC
Injective Protocol’s native crypto, INJ, has been on an impressive
winning streak over the past seven days, outshining every other
cryptocurrency in the top 100. With an incredible surge of over 20%
in just a week, INJ has caught the attention of the crypto world,
with many wondering what could be fueling such an impressive
rise. Injective Protocol is a decentralized exchange platform
that allows for the trading of any asset across various
blockchains, without any 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 past Good Friday or come to an end. INJ Price Surges With
New Integrations And Partnerships The crypto has been on an
impressive upward trajectory, propelled by recent developments in
the platform’s ecosystem. Coingecko’s latest data shows a current
value of $5.76, reflecting a remarkable 7.3% surge in the past 24
hours and an impressive 22.7% increase over the past week. One of
the key drivers of INJ’s recent surge is the introduction of
Cascade, the first interchain Solama SVM rollup. This major
development paves the way for Injective to unlock the vast $9
billion Solana developer ecosystem. Moreover, the platform’s
integration of Pyth, a fast-growing oracle network, has further
strengthened its infrastructure and fueled investor confidence.
Another significant factor behind INJ’s recent price spike is the
launch of liquid staking 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 liquid staking for INJ,
@stride_zone is airdropping 100,000 $STRD tokens to @Injective_
stakers! Be sure to stake your $INJ to qualify for future airdrops
and rewards 🪂 pic.twitter.com/HnOEaf4gve — Injective 🥷
(@Injective_) 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
offerings. 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. Related Reading: Bitcoin Price Poised To
Hit $50,000, This Crypto Expert Predicts Crypto total market cap
barely unchanged at $1.14 trillion on a Black Saturday. Chart
- TradingView.com Related Reading: Chiliz Heats Up With 10%
Rally – Will CHZ Push Higher This Week? On the daily chart, the
crypto has broken through the key resistance level at $5, reaching
its 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 at $7. However, it’s important to note that further
gains at this stage may be limited, as the token has already
experienced substantial growth. Still, INJ’s bullish trend and
recent breakthroughs in its ecosystem suggest that the platform is
gaining momentum and becoming an increasingly attractive option for
crypto investors. -Featured image from Crypto Briefing
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