Here’s why the Injective Protocol (INJ) price went parabolic

Here’s why the Injective Protocol (INJ) price went parabolic
фото показано с : coinjournal.net

2022-8-11 16:38

Injective Protocol price went parabolic as investors cheered the latest fundraising by the developers. INJ, its native token, rose to a high of $2.50, which was the highest level since June 10th. This means that the coin has rallied by more than 100% from its lowest level this year.

Injective raises $30 million

Injective Protocol is a relatively small and fast-growing smart contract platform developed for the finance industry. It was built specifically to help developers build applications in the Decentralized Finance (DeFi) industry. 

Injective was created on top of the Cosmos blockchain and its applications are compatible with Ethereum. It is highly secure, has lightning-fast transaction speeds, and has extremely low costs. 

INJ price jumped sharply after the developers scooped $40 million from a group of investors led by Jump Crypto and BH Digital. BH is the crypto arm of Alan Howard, one of the best-known hedge fund managers. 

The funding came a year after the developers raised $10 million from Mark Cuban, Pantera Capital, and BlockTower. 

In a statement, the developers said that they will use the new capital to spur further development aimed at creating the best platform for finance applications. The platform has already reached over 92 million transactions while dApps built on Injective have generated over $7 billion of volume. The statement said:

“Injective offers these institutions an out-of-the-box solution that can be leveraged to build any finance app. We look forward to building together with the Injective community and are optimistic about the ecosystem’s future growth.

Therefore, Injective Protocol price rose as investors cheered the fundraising. It is a sign of validation about the future of the network.

At the same time, the rally coincided with the sharp rebound of cryptocurrencies and American stocks following the weak inflation data.

Injective Protocol price prediction

The four-hour chart shows that the INJ price has been in a strong bullish trend in the past few weeks. It then went parabolic after announcing the latest fundraising. As it rose, it managed to move above the important resistance level at $1.5495, which was the highest level on June 26 and July 11. The MACD and the Relative Strength Index (RSI) continued rising. 

Therefore, I believe that this parabolic move will be short-lived, which will see the price retest the support at $1.5495.

The post Here’s why the Injective Protocol (INJ) price went parabolic appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price parabolic protocol went injective inj coinjournal

Источник: coinjournal.net

price parabolic → Результатов: 126


This AI-focused cryptocurrency is up 300%, but on-chain fundamentals spell trouble

While the global financial markets were melting down as coronavirus spread throughout the planet, there was one cryptocurrency that managed to weather the storm. Numeraire, an altcoin brought to life to incentivize scientists to predict financial models using encrypted data, was able to enter a parabolic advance that has seen its price skyrocket over 3x […] The post This AI-focused cryptocurrency is up 300%, but on-chain fundamentals spell trouble appeared first on CryptoSlate.

2020-4-24 18:26


Фото:

How Much $100 of Bitcoin Could Be Worth When the Last Coin is Mined

Everybody knows that one day Bitcoin mining will eventually cease, and the last coin will be mined. The date for this is expected to be around the year 2140. So what could an investment of $100 now be worth in 120 years time?  Bitcoin to the Moon To estimate the price of Bitcoin well into the future we need to take a look at growth models for the cryptocurrency. The two most well-known are Parabolic […]

2020-2-28 23:00


Фото:

Here’s Why Ethereum Could Realistically Rally to $800 in the Near-Term

Ethereum has been subjected to intense volatility over the past several days, which has primarily been rooted in the close correlation to Bitcoin’s price action that it has formed in recent times. This volatility has primarily favored sellers, but it is important to note that it has not been enough to invalidate the bullish market structure it has formed throughout the course of its parabolic uptrend seen throughout the past several weeks. One top analyst is now laying out the […]

2020-2-20 20:59


Ethereum price plummets despite strong network activity growth

Ethereum’s intense uptrend seen throughout 2020 reached a boiling point in early-February, with ETH’s break above $200 allowing it to incur parabolic momentum that led it to highs of $290. Although the crypto has retraced from these highs, its mid-term market structure still remains firmly bullish, and many analysts are now noting that this will […] The post Ethereum price plummets despite strong network activity growth appeared first on CryptoSlate.

2020-2-20 09:00


Ethereum Is About to “Moonshot” After Surging Past This Key Level

Ethereum (ETH) may be on the cusp of seeing a massive parabolic rally, with the crypto’s recent bullishness laying the groundwork for what could be a violent upwards movement. The firm uptrend that ETH has been caught within throughout 2020 has allowed it to slowly grind up towards the $200 level – a price region... The post appeared first on NewsBTC.

2020-2-6 00:00


Bitcoin is Brewing the Perfect Storm for a Parabolic Mid-2020 Rally

2020 has been Bitcoin’s year, with the cryptocurrency posting massive gains throughout January as bulls attempt to lay the groundwork for BTC to see parabolic gains throughout the rest of the year. It is important to note that there is currently a multitude of separate factors that are influencing Bitcoin’s price action, and the confluence... The post appeared first on NewsBTC.

2020-2-4 04:00


Bitcoin Price Parabola Reaches 90 Degrees, Sizable Correction To Follow

As the phrase goes, “what goes up, must come down.” And this is even more true for anything that goes up a little too fast – something Bitcoin price is known for. The cryptocurrency’s latest rally has now gone parabolic, and according to “the stick method” it has reached a 90-degree angle, potentially signaling a... The post appeared first on NewsBTC.

2020-1-28 19:00


Ethereum Could Be Weeks Away From a 400% Parabolic Rally; Levels to Watch

Ethereum has been closely tracking Bitcoin and the aggregated crypto markets over the past several days, which means that ETH’s multi-day price action has primarily favored sellers. In spite of this, ETH is still trading up significantly over a weekly period, and the cryptocurrency has been able to build some short-term momentum today, allowing it... The post appeared first on NewsBTC.

2020-1-22 00:00


Bitcoin Breaking This Single Level Will Spark a Parabolic 800% Rally

Bitcoin’s 2020 uptrend has drastically shifted the market structure of BTC, which was previously shaping up to be incredibly bearish while it was hovering within the $6,000 region. The subsequent rallies from this price region, however, have allowed it to climb all the way up to $9,200, which appears to be a key resistance level... The post appeared first on NewsBTC.

2020-1-21 00:00


Gigantic Ethereum Buy Wall May Be Enough to Spark a Parabolic Rally

Ethereum has been closely tracking Bitcoin’s volatile price action as of late, which head led ETH to gain a firm position within the $140 region. The cryptocurrency’s bulls have shown signs of growing vitality over the past several days, which comes as the altcoin market begins flashing hints of having immensely bullish near-term potential. It... The post appeared first on NewsBTC.

2020-1-13 01:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Traders dump Cardano and IOTA as they move to Vantard

Cardano and IOTA, two of the best-known players in the crypto industry, have underperformed the market over time as they evolved into ghost chains. A ghost chain is a blockchain whose coin is popular, but one that lacks a supportive ecosystem.

Crypto fear and greed index dive as focus shifts to Vantard

The crypto fear and greed index continued falling, reaching its neutral zone of 56, as most coins retreated.   Bitcoin moved to $68,000, much lower than this month’s high of $73,500. Similarly, Ethereum token fell to $2,400, while the total market cap of all cryptocurrencies dropped to $2.

Why experts are backing cryptos like Vantard, MEW, and Popcat

Cryptocurrency prices are doing well this year, with most of them outperforming traditional assets like the S&P 500, Nasdaq 100, and the Dow Jones. These indices have all jumped by over 15%, while Bitcoin has risen by almost 60%, and is hovering near its all-time high.

Growing number of Solana and Cardano investors are investing heavily in this utility token under $0.08

A growing number of smart money crypto investors are shifting their focus from Solana (SOL) and Cardano (ADA) to an emerging utility token priced under $0.08. The Rexas Finance token offers a unique value proposition with strong use cases in decentralized finance (DeFi) and real-world asset tokenization, making it an attractive alternative to more volatile […] The post Growing number of Solana and Cardano investors are investing heavily in this utility token under $0.08 appeared first on CoinJournal.