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Analyst Predicts Injective (INJ) Breakout: $50 Price Range On The Horizon

Injective (INJ), a decentralized exchange (DEX) protocol, is stirring excitement in the cryptocurrency market with analysts predicting a potential price surge. The token has been under the watchful eye of analysts, with many anticipating a significant upward move in its value.

Technical Indicators Flash Bullish Signals For Injective

Injective’s recent price action has caught the attention of market observers, specifically a bullish breakout from a falling wedge pattern. This pattern is often seen as a sign of a reversal in downtrends, and Injective’s successful breakout suggests a potential shift in market sentiment towards the token.

The breakout from the falling wedge is a welcome sign for Injective investors, said Jonathan Carter, a renowned crypto analyst. This technical indicator often precedes a price increase, and in INJ’s case, we’re seeing several upside targets that could be reached in the near future, he said.

Carter has outlined a series of potential price milestones for Injective, ranging from $27 to $44. Each target represents a stepping stone in INJ’s potential price appreciation, and analysts are closely monitoring the token’s performance to see if these targets can be achieved.

Analyst Community Backs Injective’s Bullish Outlook

Adding fuel to the fire, other crypto analysts have echoed Carter’s optimistic outlook on Injective. World Of Charts, another popular analyst in the crypto space, acknowledges a recent breakout by INJ but emphasizes the need for a confirmed surge past a descending channel. However, their prediction aligns with Carter’s, suggesting a significant price increase is on the horizon, with a target of $50.

Strong Trading Volume Bolsters INJ Momentum

Beyond technical indicators, the positive sentiment surrounding Injective is bolstered by its strong trading volume. Currently, INJ boasts a 24-hour trading volume of $252 million, signifying healthy market activity and investor interest. This strong volume indicates that investors are eager to get their hands on INJ, potentially driving the price even higher.

Injective: A Look Ahead

While the future remains uncertain, the combined factors of bullish technical indicators, strong trading volume, and overall positive sentiment from analysts paint a promising picture for Injective. Investors are eagerly awaiting further confirmation of a price breakout, and if successful, Injective could be poised for a significant price increase in the coming months.

Featured image from dubizle, chart from TradingView

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Bitcoin Bearish Signal: Analyst Predicts Potential Dip To $52,000

As the price action of Bitcoin continues to attract crypto investors’ interest, Michael Van De Poppe, a well-known market analyst and trader in a bearish scenario has made a worrying prediction, warning the community of a potential drop in price for the crypto asset to the $52,000 level.

Bitcoin Poised For A Possible Decline

Michael Van De Poppe’s prognosis explores the factors that are driving the gloomy view of Bitcoin‘s price trajectory, in the midst of market turbulence and uncertainty.

Van De Poppe affirms that the largest crypto asset by market cap is currently at the range low. For Bitcoin to maintain the range and the upward momentum to persist, this is technically the region it should probably hold.

Bitcoin

Should the asset fail to sustain this position, Van De Poppe anticipates a potential movement on the downside in the future. Thus, he has placed his price targets at $55,000 or even further toward the $52,000 threshold.

The post read:

Bitcoin is at the range low. This is technically the area where you’d prefer to see it hold, so the upward momentum continues, and the range holds. If this doesn’t hold, then we might expect $52-55K as a potential low on this correction.

Van De Poppe previously pointed out that Bitcoin is gradually moving close to the lower bounds of the range, in order to test support around $62,250 level. Consequently, it appears likely that BTC will keep moving toward the upside, following the breakout of the support level.

However, since the recently concluded Bitcoin Halving event, boredom has set in, suggesting a possible price decline. Thus, should a correction on the downside eventually take place, $52,000 and $55,000 are the two levels Van De Poppe expects BTC to drop to. Despite the negative outlook for BTC, the crypto expert thus far has urged investors to acquire more of the coin.

Opposite Sentiment On BTC’s Investment

While Poppe solicits investors to invest more in BTC, crypto critic and gold advocate Peter Schiff, on the other hand, has urged investors not to do so. Instead, Schiff has highlighted a possible impending massive rally for assets like Gold, Silver, and mining stocks.

He claims that the charts and the fundamentals have never looked this promising. Due to this, Schiff implored investors to engage more with these assets, saying Bitcoin is dead money and holders should sell before it is buried. “Take advantage of what could be the biggest precious metals bull market in history,” Schiff added.

As of today, Bitcoin’s price has shown resilience, fueling optimism of an upward movement. BTC has recovered the $63,000 price level once again after falling to nearly $60,700 on Thursday.

The digital asset is trading at $63,077, indicating a 3% rise in the last 24 hours. Data from CoinMarketCap shows that both the market cap and trading volume have also increased by 3.10% and 5.52%, respectively, in the past day.

Bitcoin

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Injective (INJ) Price In Danger If It Falls To Crucial Support Level: Analyst

INJ, the native token of the Injective Network, commenced May with a fluctuating price action marked by a series of significant losses and gains. As INJ attempts to establish a stable price trajectory, popular market analyst with X handle Crypto Tony has highlighted a pivotal support zone for the altcoin in the coming weeks. 

INJ Must Not Fall Below $19.30 Level, Analyst Warns

In an X post on Friday, Crypto Tony shared a vital insight on the INJ market which could create a sentiment of caution among many traders. The renowned analyst stated that INJ must maintain a market price above the $19.30 price zone, warning that a dip below this support level could spell danger for investors.

While Crypto Tony did not say the extent of this danger, the possible loss seems to be likely massive as his statements implied the INJ bull traders could struggle to re-establish market control should the token’s price fall below the specified threshold. Furthermore, the analyst stated that early investors of INJ including himself would be immune to this potential downside. However, he still plans to pull out of the Injective market should the token lose its $19.30 support zone.

Currently, INJ trades around $24.70 reflecting a gain of 4.68% in the last day after a period of intense market volatility. The altcoin appears to be gathering momentum for a bullish trend following negative performances in recent weeks resulting in a decline of 24.07% in the last 30 days. 

What’s Next For Injective? 

With respect to a highly anticipated crypto bull run, INJ, which gained by over 3,000% in 2023, has been marked by several analysts as one potentially favorable altcoin for investment in the coming weeks.

Interestingly, these sentiments have been bolstered in recent weeks by a series of positive developments on the Injective network. For instance, Injective recorded 2.4 million transactions in a single day marking a new milestone in daily transactions for the Layer 1 network. 

In particular, the Injective 3.0 network upgrade has also been recently approved which is expected to tackle the inflationary problems of the INJ by decreasing the token’s minimum and maximum creation rate by 25% and 30%, respectively over the next two years on a uniform quarterly basis. 

Through these deflationary measures, it is expected that INJ would experience an increased scarcity which could, in turn, drive up the altcoin’s market value, thus contributing to a positive performance in the expected crypto bull run. However, investors are reminded that all cryptocurrencies are subject to varying levels of market volatility and are admonished to trade with all necessary caution.

InjectiveINJ trading at $24.66 on the daily chart | Source: INJUSDT chart on Tradingview.com

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Buckle Up, Injective (INJ) Primed For Takeoff Towards $50 — Analyst

Injective Protocol, a blockchain platform dedicated to decentralized finance (DeFi) and derivatives trading, is currently at the center of attention. The platform’s proposed upgrade, Injective 3.0, aims to revolutionize its tokenomics by introducing deflationary measures for INJ.

This upgrade seeks to address the issue of token inflation, a common challenge faced by many DeFi tokens, by implementing mechanisms to control the creation of new tokens and incentivizing users to stake their existing INJ holdings.

Injective: Creating Token Scarcity

One of the key objectives of Injective 3.0 is to increase the scarcity of the INJ token. By reducing the rate of token creation and encouraging staking activity, the upgrade aims to create a supply-demand dynamic that could drive up the token’s price.

This strategy reflects a broader trend within the cryptocurrency space, where projects are exploring innovative ways to enhance token utility and value proposition.

Meanwhile, Injective (INJ) has seen a remarkable surge in value. Over the past week, INJ has soared by an impressive 12%, building upon a substantial 24% gain over the last month.

This surge in price has prompted speculation about the token’s future trajectory and the factors driving its bullish momentum.

Analyst Optimism And Price Predictions

Amidst the excitement surrounding Injective’s upgrade proposal, crypto analyst World Of Charts has issued a bullish prediction for INJ. The analyst’s analysis points to a bullish flag pattern emerging in INJ’s price chart, a technical indicator often associated with significant price breakouts.

According to World Of Charts, if INJ breaks out of this pattern, it could potentially reach the $50 mark, representing a substantial increase from its current price and signaling further upside potential for the token.

Positive Prospects

While the prospects of INJ’s price surge are enticing, investors are advised to tread cautiously. The cryptocurrency market is inherently volatile, and factors beyond the upgrade proposal could influence INJ’s performance.

Injective Protocol just took a big step forward with their upgrade to Injective 3.0. This update brings new features to the platform, and the INJ token is looking attractive as a result.

The changes could be a draw for both experienced investors who understand the DeFi space and those who are just starting out and looking for exciting new opportunities.

Featured image from Pixabay, chart from TradingView

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Injective Votes On Major Upgrade To Make INJ Even More Deflationary: Will Prices Recover?

Injective Protocol, a blockchain for decentralized finance (DeFi) and derivatives trading, is voting on a proposal to significantly reshape the platform’s tokenomics and introduce a new era dubbed Injective 3.0.

According to Injective, through a post on April 19, the proposal is now open for voting via the Injective Hub. For the next four days, stakers and validators are free to participate. 

Community Voting On Injective 3.0

Over the months since launching in 2023, Injective caught the crypto community’s attention. The team aims to launch a platform for users to launch DeFi-focused protocols in a low-cost, scalable, and yet Ethereum-compatible environment. Though INJ, the native currency of the platform, remains one of the top performers, changes introduced by Injective 3.0 will likely push prices even higher.

According to developers, Injective 3.0 aims to make INJ a deflationary asset. A big part of this will be to reduce token minting by controlling the rate of token creation. If the community approves what’s laid out in the proposal, the team will change on-chain parameters to slow down token minting. 

At the same time, Injective 3.0 plans to make INJ’s inflation rate more responsive to staking. Under this model, inflation will slow down as more INJ is locked away via staking, making the coin scarcer. 

Proposers predict the network to be more robust and secure if INJ becomes more deflationary. Usually, token prices of scarce assets tend to be higher. However, it should be noted that changes to tokenomics don’t immediately lead to favorable price repricing. For prices to soar, there must be utility, driven mainly by community interest.

Millions Of INJ Burned, Will Prices Break $30?

Injective 2.0 is currently live following its activation in August 2023. Under the current regime, there is a token auction burn, where decentralized applications (dapps) running on the platform are free to participate in token burning. According to the Injective Protocol, over 5.9 million INJ have been withdrawn.

Injective price trending downward on the daily chart | Source: INJUSDT on Binance, TradingView

So far, INJ remains under pressure, sliding down, shedding 50% from March 2024 highs. The coin has been moving horizontally in the past few trading sessions. However, it is under immense selling and within the April 12 bear bar.

The level at $30 is a crucial resistance level. Conversely, if INJ prices dip below this week’s lows at $23, the coin will slip towards April 13 lows of around $18.

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Injective Whales Go On $24.8 Million Buying Spree, Is This The Next Solana?

Injective (INJ) may be on the brink of a potential price surge following a recent wave of accumulation by crypto whales. This would undoubtedly be a much-needed relief for the INJ token, which has dipped significantly in the last seven days. 

Crypto Whales Buy $24.8 Million Worth Of INJ

Data from the market intelligence platform Santiment shows that Whale Addresses recently bought $24.8 million worth of INJ, bringing their total holdings to 10.69 million INJ. This purchase is significant considering the impact that crypto whales have on the market. As such, a purchase of such magnitude could provide a much-needed boost to INJ’s price. 

Injective, like the broader crypto market, has been on a steady decline over the last week, dropping by over 14% during that period. The crypto token has also suffered a reversal of fortune, as it currently has a year-to-date (YTD) decline of over 9%. That is shocking for a token that enjoyed a 3000% gain in 2023 and even outperformed Solana (SOL), whose rally was one of last year’s major talking points.

However, a major correction like this was expected for INJ’s price, which enjoyed a sustained rally last year, suggesting it was possibly overbought at some point. A price decline like this one is necessary for the crypto token to once again establish itself and make another move to the upside. 

Injective Could Follow Solana’s Trajectory

Crypto analyst Crypto Dona recently suggested that Injective could follow a similar path to SOL’s price action in 2021. Back then, SOL is said to have been stuck between the $20 and $40 price range for more than 100 days. However, just when everyone was about to give up on SOL, it went on a massive run and saw a ten times increase in its price. 

The crypto analyst expects something similar to happen with INJ’s price, stating that a 10x might be around the corner. Injective, being an AI (artificial intelligence) coin, is also likely to keep attracting much attention heading into the latter stages of this bull run. That could reflect positively on its price since more liquidity will flow into its ecosystem. 

The recent purchase by these crypto whales also underlines the bullish sentiment toward the crypto token despite its current unimpressive price action. Members of the INJ community have also expressed optimism about the token’s future trajectory, with Crypto Dona, in particular, stating that its price is still going to three digits. 

At the time of writing, INJ is trading around $32, down over 5% in the last 24 hours according to data from CoinMarketCap. 

Injective price chart from Tradingview.com

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Injective Launches Important Token Tool As INJ Bleeds

Injective Protocol, a decentralized finance-centric platform, has launched TokenStation. In a blog post on March 18, Injective said the solution, deployed on its mainnet, allows users to launch native tokens. With this tool, Injective said it would empower anyone to create their tokens in a low-fee and scalable environment.

Injective Launches TokenStation, Strikes Key Partnership

The tool was developed by the Injective community and aims to “remove barrier to entry for token creation.” Like the token creation tools on Solana and Ethereum, for example, using TokenStation, part of the blog post won’t require coding experience. 

Related Reading: Top Reasons Why The Bitcoin Price Crashed Below $63,000

This makes it easier for individuals and projects to launch on Injective. Beyond token minting, the tool allows token management and integration of tokenomics mechanisms like burning.

The blockchain is launching the TokenStation days after partnering with AltLayer, a platform backed by Binance Labs dedicated to developing roll-up technology for Ethereum. Through this collaboration, the two will build a re-staking security framework for Injective Ethereum Virtual Machine (inEVM) applications.

The recently launched inEVM allows developers to seamlessly build applications leveraging the high scalability and near-zero fees on Injective. Additionally, the inEVM is set to increase composability between WebAssembly (WASM) and EVM environments. Through this unique feature, Injective can bridge the interoperability of Cosmos, the developer activity of Ethereum, and the high scalability of Solana. 

Will Volan Help Prop Up INJ Prices?

In January, Injective Protocol activated the Volan Upgrade, setting the platform’s plans to build a robust real-world tokenization infrastructure into motion. Part of this was the introduction of a Real-World Asset (RWA) module. In this way, institutions can launch regulatory-compliant security tokens. 

Additionally, Volan modified INJ tokenomics, making the token progressively deflationary. Burning reduces INJ tokens over time, a measure adopted by other protocols, including BNB and Ethereum.

While the upgrade and subsequent partnerships have lifted its prominence in decentralized finance (DeFi), growth has been slower than expected. 

Injective TVL | Source: DeFiLlama

So far, DeFiLlama data shows that Injective Protocol commands a total value locked (TVL) of less than $65 million. This is miles behind Solana or Ethereum, two of the world’s most active smart contract platforms where active DeFi protocols also thrive.

Injective prices trending downward on the daily chart | Source: INJUSDT on Binance, TradingView

Meanwhile, INJ prices, although relatively higher, are under pressure, as seen in the candlestick arrangement in the daily chart. INJ is down 30% from 2024 highs, slipping and following Bitcoin. However, the coin is within a broader consolidation. Resistance and support levels are around $44 and $30, respectively.

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Solana Smashes Major Resistance Levels, New All-Time High Imminent?

With previous price achievements, Solana (SOL) has become one of the biggest cryptocurrencies in the market, garnering the attention of investors and traders as its price continues to rise, hitting a new yearly high of $172.

Solana (SOL) Breaks Through All Critical Levels

Solana has effectively reached a new 25-month high, reflecting a strong positive interest from crypto investors within the sector. Due to this, several market experts are predicting that the crypto asset reaching a new all-time high is on the horizon.

Crypto Jelle, a cryptocurrency trader and analyst has shared his insights on Solana’s latest rally on X (formerly Twitter) while noting the significance of the development.

The crypto analyst pointed out that “SOL has surpassed every significant level preventing it from reaching new all-time highs.” This suggests that the digital asset could reach a new peak in the short term since there are only minor resistance levels ahead.

Solana

Jelle is optimistic about Solana, asserting that he has been able to “hold SOL with ease ever since it was at $20.” Furthermore, he mentioned that he “does not have any plans of selling” his SOL holdings anytime soon, demonstrating his belief in the coin to soar higher.

As Solana continues to rally, Jelle is confident that the asset will attract a lot of new retailers or investors. In addition, purchasing SOL serves as their entry point to position themselves for future gains.

The post read:

SOL has broken all major levels standing in the way of new all-time highs. I have been comfortably holding this one since $20, and I do not plan on selling it anytime soon. New retail will flock to Solana tokens, and buying SOL is their entry ticket.

According to Crypto Jelle, SOL is one of the largest assets in his crypto portfolio alongside Injective (INJ). Jelle asserted that both crypto assets are currently moving in an upward trajectory, signaling the start of their bull run.

Furthermore, he claims that SOL and INJ have reclaimed the top spot as the “altcoins market leaders.” Consequently, every other altcoin “will follow their lead” in this bull cycle.

$208 Resistance Level Might Be Revisited

Rekt Capital, a crypto expert has pointed out Solana’s potential to revisit the $208 resistance in the short term. At first, he underscored that the SOL is demonstrating strength similar to that of the 2021 bull cycle.

Since the digital asset broke out from the green zone, it has increased by over 118%. It has also increased by over 53% ever since it broke out of the Ascending Triangle.

Due to this, he believes the “$208 resistance level might be tested again” in the coming months. So far, SOL has climbed by over 23% in the past week, indicating a rise in buying pressure in the crypto market.

Solana

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INJ Price Soars 13% As Injective Unveils ‘inEVM,’ Ethereum And Solana Integration Expected

In a recent announcement, Layer 2 (L2) protocol Injective (INJ) has reached a major milestone with the launch of its inEVM Layer 2 rollup solution on the mainnet. This technology introduces an Ethereum Virtual Machine (EVM) environment to the Injective ecosystem, opening up new prospects for developers and blockchain interoperability.

By integrating with Ethereum (ETH), Cosmos (ATOM), and Solana (SOL), inEVM establishes a multi-chain ecosystem that combines the advantages of different virtual machine environments.

inEVM For Ethereum, Cosmos, And Solana

According to the March 7 announcement, InEVM, which stands for inEVM Layer 2 rollup solution, allows developers to build applications using the Ethereum programming language Solidity within Injective’s platform.

This technology connects different blockchain networks by achieving composability across Cosmos and Solana. InEVM leverages Caldera as the rollup provider, Hyperlane as the messaging layer, LayerZero for data and asset transfer, Celestia as the Data Availability (DA) layer, and Pyth as the Oracle provider.

These collaborations were reportedly designed to ensure a “secure and robust” environment for developers to deploy their projects.

Furthermore, by incorporating inEVM, Injective will enable Ethereum developers to onboard onto its platform while retaining compatibility with the broader blockchain space. 

As announced, developers can now take advantage of Injective’s benefits, including the protocol’s transaction speeds, near-zero fees, and access to the Inter-Blockchain Communication (IBC) network.

The protocol also claims that InEVM will serve as a sandbox for developers to become familiar with the broader Injective ecosystem, providing a bridge between Ethereum’s EVM world and Injective’s WebAssembly (WASM) backbone.

TimeSwap And Thetanauts Make Waves In Injective Platform

Another key feature of Injective’s inEVM is its stated integration with Caldera, Hyperlane, LayerZero, Celestia, and Pyth, ensuring compatibility with existing smart contract standards, infrastructure, and oracles. 

This integration aims to facilitate interoperability and collaboration across virtual machine environments, paving the way for a “unified blockchain ecosystem.” 

The release states that developers will also benefit from the ability to create synergies and leverage the strengths of Ethereum, Cosmos, and Solana while maintaining true composability and interoperability.

Lastly, the protocol has announced that several projects have already adopted inEVM and deployed on the Injective platform. Notable among them is the TimeSwap lending protocol, which has raised significant funding of over $200 million from investors, including Polychain Capital, Delphi Digital, and Bain Capital Crypto. In addition, Thetanauts, an on-chain options protocol, has also chosen to build on the inEVM.

Injective

Currently, Injective’s native token INJ has seen a notable uptick in price after stagnating and dropping 3% over the past seven days. Currently, INJ is trading at $43.20, up over 13% on announcing the launch of Injective’s inEVM. 

This marks the continuation of the token’s upward trend registered over the rest of the time frames. The token recorded a tremendous surge of over 1240% year-to-date, 37% in the past 30 days, and 23% in the past fourteen days, which led the token to reach its current all-time high (ATH) of $46 on March 2nd.

Featured image from Shutterstock, chart from TradingView.com

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Injective On A Roll: Crypto Analyst Predicts Massive Breakout Against Bitcoin

Crypto analyst The Crypto Dog has provided a bullish narrative for the Injective (INJ) token. As part of his insights, the analyst hinted that the crypto token could outperform Bitcoin soon enough. 

Injective To Breakout Against Bitcoin

In an X (formerly Twitter) post, The Crypto Dog shared an INJ/BTC chart while hinting that an “incredibly bullish structure” was forming on the charts for Injective against the flagship crypto token. From the chart, it was obvious that the analyst was suggesting that the INJ token could soon make a massive move against Bitcoin. 

However, he didn’t provide details as to when this move could occur and what price levels INJ will hit once this impending breakout happens. Just like Solana’s SOL, INJ was another standout crypto token in 2023, as it rose to almost $40, enjoying a gain of about 3,000% in the process. This was more commendable, considering that it happened in an ongoing bear market.

Interestingly, INJ’s run continued into the new year, with the crypto token hitting its current all-time high (ATH) of $45 on January 9. One of the narratives that is believed to have brought INJ this far is the one around artificial intelligence (AI) tokens, with AI projected to be one of the leading themes in the next bull run. 

Injective, a layer-1 blockchain, also prides itself as the first blockchain to offer auto-executing smart contracts and happens to be one of the fastest blockchains out there. With such features, there is no doubt that the demand for the INJ token could continue to be on the rise as Injective’s utility increases. 

Injective price chart from Tradingview.com (INJ Bitcoin)

Other Narratives That Could Lead To INJ’s Rise

The Injective blockchain happens to be interoperable with Ethereum through its cross-chain infrastructure. This could be significant especially as Ethereum continues to see its dominance surge. Once ETH begins to run, INJ could be one of the biggest benefactors since some of the liquidity in the Ethereum ecosystem could easily flow into Injective.

Injective’s distinct burn mechanism is another feature that could be a big plus for INJ’s price. The network is known to carry out a weekly on-chain buy-back-and-burn auction where 60% of fees generated on its protocols are auctioned, with users only being able to bid in INJ. The INJ tokens made from these auctions are then burned and removed from circulation. 

These weekly burns are expected to be effective, considering that the token has a maximum supply of only 100 million. So far, close to 6 million of this supply have been burned. Meanwhile, at the moment, there are only just 83.7 million INJ tokens in circulation. 

At the time of writing, INJ is trading at around $38, down over 4% in the last 24 hours, according to data from CoinMarketCap. 

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How To Bridge And Trade On The Injective (INJ) Network

Injective is a blockchain designed specifically for finance. It is an interoperable and environmentally-friendly layer 1 blockchain that supports advanced DeFi applications, including crypto trading dApps, like spot and derivative exchanges, and lending protocols.

That being said, in the fast-paced world of cryptocurrency, the Injective Network has emerged as a trailblazing force, revolutionizing the landscape with its innovative approach to scalability and seamless trading experiences. In my opinion, I will say that Injective is trying to follow the Solana path in terms of progressive growth in the ecosystem and price value. 

In this in-depth guide, we’ll navigate through the essential features of the Injective (INJ) Network, unravel the intricacies of initiating your trading journey, and explore various methods to acquire and trade the coveted Injective Coin (INJ).

Solving Scalability: The Essence of Injective (INJ) Network

The scalability challenge has long been a hurdle for widespread crypto adoption, and Injective Network steps up to the task as a groundbreaking solution. Scalability is the reason some people don’t trade certain coins. For instance, I avoid making certain Ethereum transactions because of the high gas fees. If I want to make any monetary transaction, I prefer to use a more scalable coin like injective (INJ).

Scalability isn’t just about transaction costs but also about the speed of transactions. Injective Network boasts a remarkable transaction speed of 0.8 seconds, leaving competitors, including Ethereum and its layer 2 counterparts, in the rearview mirror. What more can you ask for with their gas fees as low as $0.01, Injective Network brings unparalleled efficiency to the world of blockchain transactions.

Injective (INJ) gives you a better DeFi experience, this is because you are not scared of exploring the DeFi space due to high gas fees and slow annoying transaction speed. If you have transacted on the Ethereum chain or done any past DeFi activity on the Ethereum chain, you will be conscious of your exploration because each activity will incur a transaction fee whether the contract signed is successful or not and it’s not cheap.

Initiating Your Injective Trading Journey

Embarking on your trading journey within the Injective Network involves meticulous steps to ensure a seamless experience. The choice of a compatible wallet is paramount, and here, we delve deeper into two main types:

  1. EVM Based Wallets:

EVM compatibility is the bedrock for smooth integration with Injective Network. While Metamask is a popular choice, it’s essential to understand its intricacies, especially when it comes to the EVM chain. Exploring alternative EVM-based wallets can provide tailored solutions for optimal user experience.

It is preferable to use an EVM wallet like Metamask if you are bridging from an EVM chain to an injective chain. As we go further into this post, you will learn how to bridge from EVM to the injective chain. EVM wallet like metamask makes your Defi experience on the injective easier but you can’t compare it to that of the cosmos-based wallet. 

  1. Cosmos Based Wallet:

For a user-friendly experience on your PC, consider Cosmos-based wallets like Leap and Keplr. These Chrome extensions are tailor-made for Injective Networks, ensuring not just compatibility but also enhanced security features. Using a Cosmos-based wallet makes interaction far easier than EVM-based wallets. But you can’t have EVM-based assets on this wallet, this means that you can’t bridge EVM assets to injective using this wallet, you need to use Metamask. 

These wallets, the EVM-based wallets, and the Cosmos-based Based Wallets are great for your smooth Defi experience when interacting on the injective chain.

Acquiring Injective Coin (INJ)

Once your wallet is set up, the next crucial step is acquiring the prized Injective Coin. INJ is prominently listed on various centralized exchanges, including Binance, Coinbase, Kucoin, Bybit, OKX, and Gate.io. Each exchange offers its unique advantages, and strategic users may explore multiple platforms for optimal trading conditions.

 

Consider securing your INJ in a Keplr wallet for efficient portfolio management. When you are sending INJ from centralized crypto exchanges to your Keplr wallet, make sure you choose the Injective network and paste your Injective network address from your Keplr wallet.

Injective (INJ)

Setting Up Keplr Wallet for Injective Chain Visibility

Creating a Keplr wallet is a straightforward process through the Chrome extension. Get your Keplr wallet, and create a new wallet, you will be given a seed phrase, save the seed phrase, usually a 12 or 24-word seed phrase. Do not forget to save them, in order not to lose your account permanently.

To make the Injective chain visible in your Keplr wallet, follow these steps:

  1. Click on the hamburger sign in the top left corner.
  2. Navigate to “Manage Chain Visibility.”

This will take you to where you can view the chain visibility on the Keplr wallet, this is essential as it helps you select other chains on the Keplr wallet.

Wallet

  1. Search for “Injective” or “Inj” and click on “Add Token.”

Injective 2

By enhancing Injective-related keywords in your wallet setup process, you not only optimize for search engines but also ensure clarity for users seeking to manage their INJ effectively.

Wallet

It is important to know that every address on the injective chain starts with the “inj” prefix, this helps you identify the injective chain easily. Congratulations you are about to begin your Injective DeFi journey. 

Defi means Decentralised Finance, this is a type of transaction that doesn’t require a centralized platform like Binance, Bybit, OKX, or whatever centralized exchange you know. All you need to perform a DeFi transaction is a DEX (Decentralised Exchange) wallets like Keplr and a Dapp (Decentralised Application).

We have a wallet now, we need to fund it with INJ before interacting with a Dapp on the Injective wallet. You can get INJ tokens from an exchange like Binance Binance. You can deposit on your Binance in whatever way you are used to depositing on your Binance, you can deposit USDT with fiat. Trade the USDT for INJ. The next step is to withdraw the INJ to your Keplr wallet. Withdraw the INJ on the Injective wallet.

Withdrawing INJ coin and Bridging Tokens:

The withdrawal process after acquiring INJ involves selecting the coin, choosing the Injective chain, and pasting your Keplr Injective address. Remember the address has to start with “INJ”. This step is crucial for securing your assets, and benefits from additional details regarding security measures, transaction confirmation times, and potential challenges users might encounter. This is just one method to get INJ from a centralized exchange, you can also get INJ by bridging. 

Bridging, an alternative method for bringing tokens to Injective, is an essential strategy, especially for users keen on optimizing their portfolio across multiple chains. Bridging from an EVM-based wallet requires a metamask and INJ on an EVM chain. For instance, if you have INJ on the ETH chain in your metamask, all you need to do is connect your metamask to the Injective Bridge platform. This will help you bridge from the ETH chain to the injective chain.

Bridge

Bridging Tokens in the Cosmos-Based Wallet Ecosystem:

An intriguing method to diversify your portfolio involves bridging tokens from the Cosmos-based wallet ecosystem to Injective. For example, bridging TIA (Celestia) to Injective and swapping TIA (Injective) to INJ (Injective) using Astroport opens up opportunities within the Cosmos ecosystem.

You will have to go to the Injective Bridge platform, connect to your cosmos-based wallet, select whatever cosmos-based wallet token you have like TIA (Celestia), and bridge from the Celestia chain to the injective chain. Emphasizing this integration showcases the versatility of Injective Network and its compatibility with other blockchain ecosystems. Now you have TIA(Injective) you need to swap it to INJ, trading or swapping can be done Astroport.

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Trading INJ on Astroport

Astroport, the decentralized exchange (DEX) on the Injective chain, serves as the epicenter for token swaps. After successfully bridging tokens, users can initiate trades on Astroport, leveraging the platform’s decentralized nature for portfolio diversification. Whatever you are swapping here is expected to be on the injective chain, you can swap INJ for all the available tokens, and now you can trade as easily as you like.

How To Trade on Coinhall

Coinhall is a site where you can bridge directly and swap. It is a multi-token bridge swap DEX that you can use to bridge and swap at the same time but only for Cosmos-based tokens and coins. It serves as a smart chart for all cosmos-based tokens including injective and also for swapping and bridging. 

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You can see all the available coins and tokens with their respective prices here, it’s a good DEX dApp to use. You can scroll here and search for the token you are looking for. You can also search by using the search bar. 

If you want to trade a token and you can find it on the list, all you have to do is go to Coinhall and type the name of the token, as well as search using a contract address.

Coingecko is also a good site that has the details of coins. Here, you can search for the name of the coin or token you are looking for, and get the contract address directly. 

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Go to the info section and search for the contract, copy the smart contract from Coingecko, and paste it into the coinhall market search button. 

Like this:

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This will take you to where you will be able to trade any token based on the dex.  

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Let’s explore Coinhall as A Bridge Swap DEX

To explore Coinhall this way, you need to navigate to the Swap section. This section will give you the opportunity to bridge and swap at the same time. For instance, if you want to swap TIA (Celestia) to INJ (Injective) you can do this at ease with one click. 

Instead of bridging TIA (Celestia) to TIA (Injective) then swapping it to INJ. You can do it as shown below:

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Conclusion

With your INJ Coin securely stored in your wallet, you’re now poised to explore the exciting world of trading on the Injective Network. The scalability, low transaction fees, and swift processing times position the blockchain as a promising platform for crypto enthusiasts and traders alike. In the dynamic realm of decentralized finance (DeFi), Injective Network stands tall, offering innovative solutions for seamless and efficient trading experiences. 

As you navigate this multifaceted landscape, remember that the Injective Network isn’t just a platform; it’s a gateway to transformative technology shaping the future of cryptocurrency. These steps, when taken with a strategic mindset, offer not only trading opportunities but also a deeper understanding of the evolving crypto ecosystem. 

Stay informed, trade wisely, and harness the full potential of the Injective Network, where every transaction is an opportunity to redefine your crypto journey.

In summary, this comprehensive guide provides an extensive roadmap for mastering the Injective Network, ensuring that users, from beginners to seasoned traders, can navigate the intricacies of this innovative blockchain ecosystem with confidence and clarity.

Injective (INJ) price chart from Tradingview.com (Trade Bridge DeFi)

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Injective (INJ) Rockets To Fresh ATH With 2,700% Surge – Find Out More

Driven by heightened futures trading volumes and leverage, the price of Injective (INJ) has soared to unprecedented levels of around $38.49, marking a remarkable 2,700% surge year-to-date.

Notably, within a single day, the native token of the decentralized finance (DeFi) platform Injective, exhibited resilience and potential, demonstrating a noteworthy increase of 24% in its value.

In the context of the cryptocurrency market’s ever-changing dynamics, INJ has emerged as a standout performer, positioning itself as one of the top gainers amidst the series of surges and corrections experienced by leading tokens.

Analysts have identified a number of major factors that have contributed to this startling rally, including the surge in trading volumes for INJ perpetual futures contracts, which exceeded $25.5 billion in a single day, the incentives offered by centralized exchanges to create volatility, and the acceleration of short-term traders who are seeking leverage.

The weekly timeframe’s technical analysis reveals that the price of INJ has risen sharply since the year’s beginning. As of this writing, the altcoin has experienced a strong seven-day gain of 45%.

The price increase for INJs reached a new peak of $34.60 last week, representing an increase of 2,700% in 2023.

Based on a mix of technical indicators and fundamental factors, cryptocurrency traders and analysts on X are optimistic about the direction of the INJ price trend going forward.

Experts are more confident due to Injective’s decentralized finance (DeFi) platform’s increasing popularity and strong performance in spite of market turbulence.

Meanwhile, here’s what the analysts are saying about INJ’s price performance this week:

Our Crypto Talk is optimistic for basic reasons. The account stated that leverage-driven accumulation, exchange incentives for volatility, and the boom in perpetual futures trading were the three key drivers of the continuous rising trend.

Victorious, another cryptocurrency analyst, is upbeat because of a short-term Wyckoff Accumulation pattern.

In financial markets, the Wyckoff Accumulation pattern is a technical analysis idea that is very useful when trading equities or cryptocurrencies.

It denotes a stage of buying or accumulation by institutional or smart money investors. A sequence of price consolidations, in which the asset’s price fluctuates within a predetermined range, define the pattern.

As a result of its strong and adaptable performance, Injective Protocol has been widely used in the bitcoin market. Proof of this is its latest collaborations with some of the crypto market’s biggest players.

Carbon Browser made a big announcement on X on December 7, 2023, confirming the incorporation of Injective Protocol into their platform.

Big names in the industry including Mark Cuban, Binance, and Pantera have backed Injective Protocol, which is the quickest Layer 1 blockchain for finance.

This strategic integration signifies a pivotal progression in the promotion of a financial ecosystem that is both more inclusive and efficient.

The remarkable trajectory of Injective is proof of the cryptocurrency market’s dynamism as well as the opportunities that arise from savvy alliances and technical breakthroughs.

Featured image from PIxabay

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Record-Breaking Heights: Injective (INJ) Soars Over 70% Amidst AI Uptick

With the token touching $31.35 early on Friday, the injective (INJ) price formed a new all-time high, suggesting that it has recovered all of its losses.

In the cryptocurrency industry, altcoins are gaining traction because most of them have started to rise and are outperforming the leading cryptocurrency, Bitcoin.

A couple of the stronger altcoins lately are Avalanche, Bonk, and Solana. INJ, an altcoin that has been making positive noise of late, has attracted a lot of interest as it managed to retain a steady momentum, to the delight of investors.

Injective Surges To All-Time Highs, Marking Impressive Weekly Growth

One of the top AI-based digital currencies in the cryptocurrency market is INJ, since its horizon is accumulating positive sentiments on a global scale.

After breaking over the critical and last region of resistance at $26, its prior ATH, INJ moves into a price discovery mode. As of this writing, the token’s value has increased by over 70% in the weekly timeframe, marking the third day in a row that it has increased.

A blockchain specifically created for financial applications, the Injective protocol stands out in the ever-changing world of cryptocurrencies.

With a focus on finance, Injective seeks to provide cutting-edge services and solutions by utilizing blockchain technology to improve the financial industry in a number of ways.

Developed as a Layer 2 application on top of the Cosmos blockchain, the platform makes use of cross-chain bridges to enable cryptocurrency access from Ethereum and Polkadot.

AI Excitement Propels INJ’s Meteoric Rise

The substantial increases in the price of Injective seem to be attributable to the heightened enthusiasm surrounding artificial intelligence, especially with the release of ChatGPT-4 and the broader story surrounding AI advancement.

Injective’s value rises in response to the market’s reaction to the rising prominence and potential influence of AI technologies as the tech community is abuzz with excitement about the newest developments in the sector.

The spike is also consistent with recent market statistics that Santiment, a platform that streamlines on-chain monitoring, released. According to the data, the market capitalization of the INJ coin had a significant surge, rising by almost 250% since the middle of October.

The data also shows which three wallets have the highest percentage of INJ accumulations. At $2.18 billion, these stocks make up almost 80% of the entire INJ supply. The aforementioned accumulations contain over two-thirds of all tokens in circulation.

The three biggest INJ wallets have added more over 7 million tokens to their holdings during the last three months, according to Santiment. It is unclear whether INJ price increases are long-term because large pocket investors are probably taking profits.

Featured image from Shutterstock

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DeFi Researcher Questions Injective Protocol’s Appeal: Is INJ Overvalued?

Thor Hartvigsen, a data-driven decentralized finance (DeFi) researcher, is questioning the appeal of Injective Protocol, a layer-1 platform whose creators say is designed to expressly power finance.

As of December 2023, INJ, the native currency of Injective Protocol, is one of the top-performing coins, surpassing Bitcoin (BTC) and Ethereum (ETH).

Is Injective Protocol Undervalued Based On On-Chain Metrics?

Taking to X on December 14, Hartvigsen highlighted the platform’s relatively low total value locked (TVL) of $11 million and the limited number of protocols launched on the platform, currently standing at seven.

Based on the researcher’s analysis, the largest dapp on the layer-1, Helix Protocol, a decentralized exchange (DEX), only manages a daily trading volume of about $7.4 million. 

Injective Protocol TVL | Source: DeFiLlama

Hartvigsen states this is significantly lower than other perpetual futures protocols, including the Perpetual Protocol. These competitors, the analyst notes, are valued at around $200 and $300 million based on fully diluted valuation (FDV).

So far, looking at data, there are only seven active protocols on Injective, with Helix managing over 60% of the ecosystem’s TVL, reinforcing its dominance.

If on-chain activity and the number of active protocol leads, Hartvigsen wants answers to irrefutably justify Injective Protocol’s $3.2 billion valuation.

The researcher compares Injective with other blockchains, including Ethereum and Solana. These platforms command relatively higher trading volume and on-chain activity. 

Injective Protocol dapps | Source: DeFiLlama

To illustrate, Hartvigsen cites DefiLlama data, which shows that Injective’s volume ranges from $5 to $7 million daily from seven dapps.

On the other hand, Solana, a competing layer-1, presently processes between $500 and $700 million. Meanwhile, Injective Protocol cannot match Ethereum, which processes over $1 billion in trading volume.

INJ Up 395%, Will Prices Continue Rising On Investor Optimism?

In response to Hartvigsen’s analysis, yiggit, a user claiming to be a legal counsel, defended Injective Protocol. The user emphasized that TVL, as the researcher cited, cannot be the sole determinant to gauge a project’s potential. 

Related Reading: Bitcoin Deja Vu: Capital Inflows Mirror Pre-2021 Bull Run Momentum

Yiggit added that Injective Protocol’s potential is rooted in the expected number of upcoming apps. Notably, the legal counsel notes that optimism also stems from the Injective Protocol’s origins in Cosmos. In the Cosmos ecosystem, staking tends to catalyze participation as users seek to receive airdrops.

Injective Protocol price trending upward on the daily chart | Source: INJUSDT on Binance, TradingView

Still, whether or not the researcher’s assessment is valid depends on time. So far, looking at the INJ price action in the daily chart, the coin has been charting higher, registering new all-time highs.

To illustrate, INJ is up 395% from mid-October 2023, rallying as the broader crypto market recovers. At this valuation, CoinMarketCap data shows that the project has a market cap of over $2.7 billion.

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Crypto’s Silver Lining: Market Dips Are Stepping Stones To Soaring Heights – Analyst

Crypto Rand, a renowned crypto trader, has shared insights on the current market corrections, emphasizing the necessity of these corrections for sustainable market ‘growth.’

The trader, who disseminates his views on X, stresses that despite the evident pullbacks, the crypto market’s macrostructure remains “intact.”

This perspective comes at a time when most crypto assets, including Bitcoin, have experienced significant price drops over the past couple of days.

Navigating Resistance Levels: The Path To Growth

Crypto Rand’s leveraged the price action index of various cryptocurrencies, such as Cosmos (ATOM), Chainlink (LINK), NEAR Protocol (NEAR), Algorand (ALGO), and MultiversX (EGLD), among others to highlight his point.

Rand identifies multiple resistance levels in these assets’ trajectories, suggesting these as potential points for market turnaround. These resistance levels are categorized as major or minor, depending on the frequency and intensity of price actions historically observed at these points.

Despite the temporary pullbacks that these resistance levels might introduce, Crypto Rand views them as necessary pauses that allow the market to gather strength for future upward movements.

This perspective is particularly relevant in light of Bitcoin’s recent price behavior. The flagship cryptocurrency has seen a notable dip from its recent high of $44,000, currently trading just below $42,000.

Bitcoin (BTC) price chart on TradingView amid crypto market news

This downward trend has echoed across the crypto market, impacting other major assets like Ethereum including altcoins Rand mentioned like Chainlink, and Algorand.

Over the past 7 days, BTC and ETH have experienced declines of 4.4% and 2%, respectively. Meanwhile, Chainlink has seen a 6.9% drop during the same period, and Algorand has fallen by 4.1% in just the past 24 hours.

The Broader Perspective On Crypto Market Corrections

The sentiment that market corrections are a healthy and necessary aspect of growth is not exclusive to Crypto Rand. William Clemente, the co-founder of Reflexivity Research, echoes this viewpoint.

Clemente posits that the current market retraction, which could potentially bring Bitcoin’s price closer to $40,000, should “not be a cause for alarm.”

Clemente argues that this process is crucial for eliminating weaker market participants and reducing excess leverage, ultimately establishing a firmer foundation for future upward trends.

Clemente further articulates that the inherent volatility of Bitcoin should be perceived as “a feature, not a bug”. It is worth noting that this stance reinforces the notion that the crypto market is still evolving and that such fluctuations are part and parcel of its journey towards maturity.

Featured image from iStock, Chart from TradingView

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

Injective Protocol’s INJ token has just 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.

The overall trading activity has decreased from its recent peak, leading to a reduction in market volatility. Despite this, the price of INJ has experienced a 12% increase in the last day, currently trading at $25.

Injective Inks 50% Price Rally

One of the things to consider as the token searches for more growth is what has propelled it to a record high. So, is there a chance that this rally will last, or will bears ruin the bulls’ Yuletide celebration?

Injective’s native token has experienced a price explosion of over 50% in the previous 30 days, and the steady climb since the lows hit in December 2022 has featured a parabolic rise of over 1,500%. Positive news about the ecosystem and the general bullish mood have driven INJ higher in recent weeks.

Just the last day saw a 40% spike in INJ’s trading volume to $508 million. The price of INJ has fluctuated by around 15% during the last day, indicating high intraday volatility as well. Traders need to get ready for further volatility in the near future.

Now that Injective has a new ATH set, it is in unexplored terrain and might rise swiftly.

In the event of a decline, the nearest area of support is at $24, and then $20, which corresponds to the Fibonacci 0.382 retracement level. Just below that, at $16 and $15, respectively, you can find support at the 0.5 and 0.618 Fib levels. If INJ’s rally hits a wall, the stock might retrace to these levels before continuing its ascent.

INJ’s $65K Burn Boosts Weekly Surge

Injective’s weekly token burn has been one of the major triggers for the previous few days. The most recent of these saw the burning of over $65,000 worth of INJ, eliminating them from circulation forever.

Injective saw a notable increase in the total amount of INJ staked during the burn auction. There have been almost $1 billion worth of tokens staked thus far, based on on-chain data.

A bullish continuation might see buyers target prices above $30. A bearish turn in tandem with a wider market decline may signal a possible decline to $20–$18 range support.

INJ Positive Prediction 

Meanwhile, the current Coincodex Injective price prediction indicates a $27.50 price increase this week. Additionally, according to its technical indicators, the present mood is bullish, and the Fear & Greed Index is currently reading 67 (Greed).

The predicted annual low price for Injective in 2024 is $ 25.13, based on how the price has changed in the past and the BTC halving cycles. Injective, on the other hand, could cost as much as $35.49 next year.

Featured image from Warne Scope Mounts

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Here Are Four Crypto Assets Poised For A Major Price Explosion – Analyst

The general crypto market has recorded a slight boost in the last week as market leader Bitcoin surged by 4.44% to trade above the $39,000 price mark. As bullish sentiments continue to rise, popular crypto analyst Austin Arnold has now highlighted four tokens that offer investors a high potential for profitability in the coming weeks.

Top Crypto Tokens Set For A Massive Price Rally – Austin Arnold

Speaking in a recently published video on his YouTube channel Altcoin Daily, Arnold stated that certain tokens are “set to rip through the crypto markets.”

The first cryptocurrency he highlights is Injective (INJ), a layer 1 blockchain and decentralized protocol backed by Binance, Pantera, and renowned tech billionaire Mark Cuban. Arnold states that Injective’s potential for a massive price surge is tied to multiple factors, including its impressive tokenomics facilitated by its buyback and burn auction system. 

This is a process in which Injective utilizes 60% of all fees collected across its multiple native dApps to buy back INJ from the market. The bought INJ is then burned, allowing the token to maintain a controlled supply and increase market value. 

Furthermore, Injective currently possesses one of the lowest network fees in the market, which is considered an attractive feature for most users and developers. In addition, the Cosmos-SDK built protocol is also set to undergo its largest mainnet upgrade – Volan Upgrade – in the next few weeks.

Joining Injective on Arnold’s list is Chainlink (LINK), an Ethereum-based decentralized blockchain oracle network. The crypto analyst notes that Chainlink recently celebrated a milestone of 2,000 integrations and projects, which only underlines the network’s appeal to developers and the wider crypto community. 

Furthermore, Arnold lauds Chainlink for its multiple strategic partnerships with major traditional institutions, including the SWIFT banking system and the Depository Trust and Clearing Corporation (DTCC), which could drive institutional adoption of the crypto project. 

In addition, Chainlink recently launched an upgraded staking mechanism, which introduces greater flexibility, better security guarantees for oracle services, and a modular architecture, all of which Arnold believes’ contributes to the cryptocurrency’s potential for massive price gain soon.

Bitcoin And Ethereum Await Spot ETF Boost

The final cryptocurrencies on Austen Arnold’s list are, unsurprisingly, the two biggest assets in the market, namely Bitcoin and Ethereum.

For Bitcoin, The crypto analyst notes that crypto whales have been stocking up their supply of the premier cryptocurrency, citing an example of Michael Saylor’s Microstrategy. In addition, he also references an impending rise in BTC’s institutional demand, which hinges on the approval of a spot exchange-traded fund (ETF).

In addition, Arnold pinpoints there is also a rising interest in Ethereum as more asset managers continue to approach the US Securities and Exchange Commission with applications to launch an Ether Spot ETF.  This development was revealed by American investor Ric Edelman, who personally claims to be more excited about Ethereum than Bitcoin, as it offers more technological capability and commercial applications. 

Crypto