Injective protocol INJ
INJ is a project invested and supported by the Binance Labs fund
Injective Protocol is a cross-chain platform deployed on the basis of two protocols, Ethereum and Cosmos, so that users do not experience problems with high gas prices.
Among the key features of the project, it is worth noting decentralized trading in derivative financial instruments, the ability to trade on any market, cross-chain trading, yield generativity, a community-driven network, and high-speed DEX.
The project investors are Pantera, Hashed, and of course Binance Labs.
It is also worth paying attention to the technical analysis and consider the INJ chart :
From the peak, we fell by 95% and came to the zone from which the growth began and in which there were good volumes, and when we return to this zone, now we also see large volumes. If we analyze the behavior of coins in the previous bear market, then on average coins fell by 93-95%.
Therefore, I consider it unlikely that INJ will show a strong fall from these values, it would be logical to test the $1 level and start forming a bottom from there. So far, we are not seeing signs of strength in this coin to expect any growth in the coming month. Unless we quickly get out of this wedge and the price fixes above $1.7
Injective Protocol is a cross-chain platform deployed on the basis of two protocols, Ethereum and Cosmos, so that users do not experience problems with high gas prices.
Among the key features of the project, it is worth noting decentralized trading in derivative financial instruments, the ability to trade on any market, cross-chain trading, yield generativity, a community-driven network, and high-speed DEX.
The project investors are Pantera, Hashed, and of course Binance Labs.
It is also worth paying attention to the technical analysis and consider the INJ chart :
From the peak, we fell by 95% and came to the zone from which the growth began and in which there were good volumes, and when we return to this zone, now we also see large volumes. If we analyze the behavior of coins in the previous bear market, then on average coins fell by 93-95%.
Therefore, I consider it unlikely that INJ will show a strong fall from these values, it would be logical to test the $1 level and start forming a bottom from there. So far, we are not seeing signs of strength in this coin to expect any growth in the coming month. Unless we quickly get out of this wedge and the price fixes above $1.7
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