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Mercuryo partners with Injective (INJ)to streamline fiat-to-crypto transactions, easing user onboarding to the Injective ecosystem. (Read More)
Injective (INJ)introduces the first-ever tokenized index for BlackRock's BUIDL Fund, offering innovative on-chain financial instruments to users. (Read More)
The Injective (INJ) community witnessed significant developments in August, including a major chain upgrade and the successful Injective Builder House event in Brussels. (Read More)
At Token2049, Injective (INJ)impressed with keynotes, panels, and engaging activities, showcasing its influence in the web3 space. (Read More)
On-chain data shows the whales of these altcoins have been shifting their supply from exchanges to cold wallets recently, a sign that may be bullish for their prices. Whales Of These Altcoins Have Been Moving Into Self-Custody Recently In a new post on X, the on-chain analytics firm Santiment has discussed the trend in the Top Exchange/Non-Exchange Wallet Holdings for three altcoins: Polygon (MATIC), Injective (INJ), and Render (RENDER). Related Reading: Bitcoin Investors Succumb To Fear As BTC Erases $60,000 Weekend Recovery The “Top Exchange/Non-Exchange Wallet Holdings” here refers to an indicator that keeps track of the ratio between the balance of the ten largest wallets associated with centralized exchanges and that of the ten largest self-custodial addresses. The ten largest wallets of either type would naturally belong to the whales, the largest of the entities in the sector. In fact, these addresses wouldn’t be just any ordinary whales, but rather investors that are humongous even by whale standards. As such, the Top Exchange/Non-Exchange Wallet Holdings tells us about how the supply held by the exchange-related mega whales compares against the ones keeping their coins in cold wallets. Below is the chart shared by Santiment that shows the trend in this indicator for the altcoins over the last couple of years: As is visible in the above graph, the Top Exchange/Non-Exchange Wallet Holdings has registered sharp plunges for all three of these altcoins in the last two years, with Polygon seeing the latest one. The plunge in question had come for MATIC on the 9th of this month, with the mega whales moving a pretty significant amount to self-custody. In the days since then, the indicator has continued to decline for the altcoin, although the scale of the drawdown has been nowhere near what was witnessed during the aforementioned plummet. Render’s mega whales made a massive transfer towards cold wallets back on the 21st of July, and the ratio has since maintained at low levels. INJ’s plunge was much earlier, back on August 21st of last year, but the large hands have continued to gradually offload more supply from exchanges since then. Related Reading: Ethereum In Danger: Analyst Explains What Could Trigger Crash To $1,800 Generally, investors keep their coins in the custody of exchanges whenever they plan to participate in trading activities in the near term. Thus, the exchange supply of any asset may be considered as a reflection of its potential sell supply. In this view, the shift that the mega whales of these altcoins have shown towards self-custody can be a bullish sign. The indicator may be to monitor in the near future, however, as any reversals would imply that the mega whales want to sell again and, hence, that a bearish outcome may be waiting for the coins instead. Render Price At the time of writing, Render is floating around $4.8, down 8% over the past week. Featured image from Dall-E, Santiment.net, chart from TradingView.com
Bitcoins rally above $60,000 could trigger buying in FET, SUI, AAVE, INJ and other altcoins.
Injective (INJ) has been outperforming the broader crypto market in recent hours, gaining over 19% since Monday, while most cryptocurrencies have experienced declines of 2% to 4% since yesterday. Related Reading: Is Chainlink (LINK) $12 Breakout Imminent? Data Reveals A Rising Open Interest This strong performance comes after the altcoin broke through the $18 resistance level, signaling bullish momentum. Investors and analysts are now eyeing higher prices for INJ, with some suggesting it could be poised for even more significant gains shortly. However, INJ must test key supply levels and establish support within critical demand zones for this uptrend to continue. The current optimism surrounding Injective is backed by encouraging price action, but sustained upward movement will be needed to confirm a lasting trend. As the market watches closely, INJs ability to hold these levels may determine its potential for further growth in the coming days. Injective Setting New Local Highs Injective (INJ) has experienced a strong surge after days of choppy and uncertain price action. Now, trading above the 4-hour $18 resistance, the altcoin has ignited excitement among investors and analysts, who believe INJ could be a top performer in this market cycle. One notable analyst, Crypto General on X, has shared his technical perspective on INJ, setting high expectations for a $53 price target in the coming months. His analysis points out that INJ is currently rebounding from its lower trendline support, a critical level that has served as a foundation for this rally. According to Crypto General, INJ could experience a powerful upward movement if this support holds. However, he also warns that if the price fails to maintain this level, we could see a decline toward the $14 range, which would signal a reversal of recent gains. Investors are carefully watching this development, as INJs recent price action could set the stage for more significant moves in the near term. The key will be whether INJ maintains its momentum and breaks through resistance levels. If bulls can push the price above its next resistance zone, a rally toward the mid-$20 range could be on the horizon, further solidifying its position in the market. Related Reading: Solana (SOL) Surges Past $130 Resistance As Funding Rate Signals Bullish Momentum As the market establishes its direction, price action in the coming days will play a pivotal role in determining INJs performance in the weeks ahead. Whether it continues to rise or faces a pullback will likely depend on broader market conditions and the ability of bulls to sustain upward momentum. INJ Price Action Details INJ is trading at $19.38 after a significant surge from yearly lows near $15. This upward movement has propelled the price above the 4-hour 200 exponential moving average (EMA) at $18.41 for the first time since late August. The 4H 200 EMA is a crucial indicator of short-term market strength. If INJ can successfully retest and hold above this level, it would suggest a bullish continuation, signaling that further upward momentum is likely. Related Reading: Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal Maintaining this position above the 4H 200 EMA would allow INJ to target higher price levels, with resistance and supply zones near $23 as the next key hurdle. However, if the price fails to hold this level and loses support at $18, a retrace toward lower demand zones around $16 could occur. In the short term, how INJ behaves around the 4H 200 EMA will be pivotal in shaping its next price action phase. Featured image from Dall-E, chart from TradingView
Injective (INJ)blockchain has successfully deployed the 'Altaris' upgrade, enhancing the ecosystem with advanced RWA Oracle, improved burn auction mechanics, and new developer tools. (Read More)
Injective's July Community Update details significant milestones, including the success of the Injective (INJ)Builder House during EthCC. (Read More)
Injective (INJ)introduces the Remix Web IDE plugin, streamlining smart contract development directly from the web browser. (Read More)
Injective piques investors’ interest as on-chain developments continue on the platform. These new integrations and information excite investors, bumping the token’s price by over 21%. The continuous positive developments are expected to further steer the INJ on the bullish path. Related Reading: Stacks: New Developments Push STX Price 18% Higher Details Given the conditions and positive developments of Injective, its investors and traders have chosen the status of INJ as a prime crypto for its native token, providing values to users and traders. ‘Fastest Layer 1 Blockchain’ Slashed Blocktimes To Just 0.65 Seconds Injective recently posted a thread detailing the platforms most recent achievement: slashing finality times to just 0.65 seconds. The platforms finality times were compared to other layer 1 blockchains like Near, BNB, and Ethereum. According to the thread, the networks finality times are caused by carefully engineered optimizations focused on several key areas from optimized state synchronization and data handling to enhanced resource management. 1/5 Injective continues to push the boundaries of blockchain scalability, with recent upgrades delivering the fastest speeds imaginable. Injective block times have now been slashed to just 0.65 seconds, making it one of the fastest layer 1 blockchains ever created pic.twitter.com/lFN3W1w2Ve Injective (@injective) August 21, 2024 This helps improve user experience on-chain while providing developers with a robust platform to build on. Another aspect that Injective is looking towards is the institutional aspect of crypto. The extremely low block times will help attract traditional financial institutions to the platform with speeds rivaling that of the top crypto networks. Injective Integrates With Balance, Expanding Network Services This week, Injective also announced the integration of Balance, a cross-chain decentralized finance platform (DeFI), on the Injective mainnet. The integration opens new opportunities for investors and traders as it introduces new assets like bnUSD, Balances native stablecoin. The partnership also enables overcollateralized loans on the platform. This enables users to use any asset as collateral, giving them up to two-thirds of the collaterals value as a loan. With a low 2% fixed interest, users on the platform can flexible loan terms with fast block time finality with Injective. INJ Faces Rejection On This Level, But With A Possible Rebound As of press time, the tokens momentum, although still significantly bullish, is facing rejection on the $0.39 ceiling, trapping the token in the narrow $0.36-$0.39 range. This range might pressure the bulls to lose momentum in the short term. Related Reading: Floki Has More Room To Climb, Targets 96% Rally Analyst At this point, the tokens correlation with Bitcoin and its most recent developments has squeezed the last bit of bullishness out of INJ, possibly opening the doors to a downward trajectory in the coming days. With the relative strength index signaling that the bulls are nearly or already exhausted, investors and traders should expect the bears to attempt a breakthrough on the $0.36 floor before stabilizing on the tokens current trading range. If the bulls are unsuccessful in defending this trading range, the price floor of Injective might move back to $0.32 soon. Featured image from Snopes, chart from TradingView
Injective (INJ) slashes block times to 0.65 seconds, setting new standards in blockchain performance and scalability. (Read More)
Balanced, a cross-chain DeFi platform, integrates with Injective, introducing the bnUSD stablecoin and expanding DeFi capabilities. (Read More)
Binance to suspend deposits and withdrawals for Injective (INJ) network during its upgrade and hard fork on August 20, 2024. (Read More)
Injective (INJ)launches Altaris mainnet upgrade, promising enhanced scalability, new developer tools, and improved economic structure. (Read More)
Discover how Injective's binary options markets offer developers robust tools for creating diverse decentralized applications (dApps). (Read More)
Injective's June Community Update highlights significant progress, including the launch of the Injective (INJ)Builder House event. (Read More)
Injective (INJ)has integrated with Mountain Protocol to launch USDM, a yield-bearing stablecoin, enhancing the DeFi ecosystem with tokenized treasury bills. (Read More)
Recently, injective (INJ) has undergone explosive growth, pushing itself to unprecedented heights and drawing interest both from experts and bitcoin aficionados. Over the past week, the digital asset has jumped about 32%, and a measly 1% in the last day. Related Reading: Dogecoin Big Rally Ahead: Analyst Sees Most Beautiful Chart Pattern INJ, at the time of writing, was trading at $26.17. A chance that its price will explode, going as high as $380, could be in the cards. Here, we break down the factors that have led to INJ’s great success and talk about what might happen in the future for this growing digital currency asset. Injective: Positive Patterns Given recent increases in Bitcoin, Injective’s remarkable price surge coincides with a bullish trend in the larger cryptocurrency market. The general market mood is rather optimistic, which provides a rich environment for alternative currencies like INJ to flourish. Analysts are attributing this increase to the arrival of Ethereum ETFs on July 23rd as well as favorable market circumstances. This next event is likely to intensify investor interest in the crypto market, therefore benefiting altcoins and increasing their attractiveness among investors. As more buyers flock to Ethereum ETFs and the demand for altcoins rises, they will bring new life to the market. As a result of its recent gains and overall good progress, injective is well-positioned to make money from this trend. There have been over $600 million worth of trades in bitcoin in the last 24 hours, giving it a market value of $2.44 billion. As the market for cryptocurrencies continues to grow, INJ’s rising trend could lead to even bigger price changes in the near future. $INJ (Injective) surges upward after confirming a Hidden Bull Divergence and prices are above a key $21.6541377 target level which, on a Logarithmic Scale, can imply $380 to be in play as the current target! With a Full Logarithmic Follow-Through, we can watch for prices of https://t.co/ahvxw8Z3gT pic.twitter.com/dfR4Xy1aSl JAVONMARKS (@JavonTM1) July 16, 2024 Technical Indicators Signal Greater Upside Technical study by eminent bitcoin expert Javon Marks fuels even more the hope around Injective. Marks has found in INJ’s price charts a Hidden Bull Divergence pattern, a technical indication of great bullish momentum. After INJ’s price crossed a historical resistance point often indicating possible for significant upward movement, an important logarithmic level of $21.65, this pattern has developed. Marks’ examination reveals INJ’s amazing upside potential given its target price of $380. From existing trading levels, this prediction shows an amazing 1,350% rise. Excited traders and investors have responded to the Hidden Bull Divergence as they see this technical pattern as a good signal of future price rise. Should INJ keep on its optimistic trajectory, it may make incredible profits and confirm its leadership among the players in the cryptocurrency scene. Related Reading: THORChain (RUNE) Primed For Big Gains, Analyst Eyes $20 Milestone Investor Mood And Short-Term Forecast Looking ahead, Injective’s short-term projection is also really positive. Technical indications and a Fear & Greed Index reading of 60, which shows a strong sense of greed and optimism among investors, reinforce the generally positive attitude of the present. Recent forecasts see INJ rising by 228.76% to reach $86.92 by August 18, 2024. Featured image from Mel Magazine, chart from TradingView
Injective (INJ) pivoted into uptrend, surging nearly 26% over the past week, as it notched robust performance to set up the stage for a huge upside climb. Analysts, are optimistic about the future price trajectory of INJ, driven by bullish market conditions. As of the latest data, Injective changes hands at $26.17, with a notable […]
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