Price Data, Market Cap & News for Injective ($INJ) Cryptocurrency

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Description of Injective

Headlines are updated in real time. Click on a headline to the left to read the news.

A Brief Introduction to Injective

Injective is a unique cryptocurrency that operates on a blockchain designed specifically for decentralized finance (DeFi) applications. It is an open, interoperable layer-one blockchain that powers a variety of DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, and lending protocols. It's a revolutionary platform that aims to democratize access to financial markets and create a more efficient and inclusive financial ecosystem.

The Creators and Major Contributors

Injective was created by Injective Labs, a research and development company. The co-founders of Injective Labs, Eric Chen and Albert Chon, have played a significant role in the development and success of Injective. Chen, with his extensive knowledge of blockchain protocols and traditional finance, and Chon, with his expertise in software development and computer science, have led the project to new heights.

Token Supply

Injective has a maximum supply of 100 million INJ tokens. The circulating supply, as of April 2023, is approximately 80 million INJ tokens. The INJ token is used across a diverse range of functions such as protocol governance, dApp value capture, Proof-of-Stake (PoS) security, developer incentives, and staking.

Purchase Locations

Injective Protocol (INJ) tokens can be purchased on most major cryptocurrency exchanges. Binance currently has the highest INJ/USD trading volume. Other popular exchanges for purchasing INJ include Bilaxy, Huobi Global, and Uniswap. It's important to remember that investing in cryptocurrencies comes with risks, similar to traditional investing.

Common Uses

Injective has a wide range of uses within the DeFi space. It allows developers to build new, highly interoperable cross-chain DeFi applications with fast transaction times and instant finality. Users can access deep cross-chain liquidity and novel financial instruments, including decentralized perpetual swaps, expiry futures, binary options, and prediction markets. Additionally, developers can launch applications with an automated smart contract implementation, which is unique to Injective’s layer 1.

Latest News and Developments

Injective has been making significant strides in the DeFi space. It has developed a fully decentralized Miner-Extractable Value (MEV)-resistant on-chain orderbook, which is a major technological advancement. This allows all forms of financial markets such as spot, perpetual, futures, and options to be fully on-chain. The platform's decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains, and non-EVM chains such as Solana.

Injective is also backed by a group of prominent investors such as Binance, Pantera Capital, Jump Crypto, and Mark Cuban. This backing not only provides financial support but also adds credibility to the project, making it a significant player in the DeFi space.

Moreover, Injective is the only blockchain that enables automatic smart contract execution. This capability serves as a powerful building block for developers to create novel use cases that would not be possible on any other chain. With these advancements and support, Injective is well-positioned to continue its growth and innovation in the DeFi space.

Injective's Major Developments

Injective has been making significant strides in the crypto world. Here's a quick rundown of the recent news about Injective:

Expansion and Partnerships

Injective has been expanding its reach by integrating with Wormhole, a cross-chain messaging protocol, enabling it to connect with ten new blockchains. This move is aimed at boosting the platform's accessibility and liquidity. Injective has also partnered with Big Data Protocol to launch structured data token products, opening up opportunities for users to trade data derivatives.

Funding and Financial Growth

Injective has successfully raised $40 million in a funding round led by Jump Crypto and BH Digital. This substantial financial boost will enable Injective to further its development, aiming to create an industry-leading blockchain optimized for financial applications. This is a positive sign for those wondering where to buy Injective, as it indicates the platform's strong financial health.

Product Launches and Upgrades

Injective has launched several new products and upgrades. The Injective Canary Chain was deployed, allowing users to stake INJ with genesis validators on the mainnet. The USDC/USDT Spot Market is now live on Injective Pro, enabling users to trade USDC with zero gas fees. Moreover, Injective has integrated with Trezor, becoming the first blockchain within the Cosmos ecosystem to support hardware wallets.

Community Engagement and Recognition

Injective has been actively engaging with the crypto community. The Injective Labs team participated in xHack, an interoperability-focused hackathon hosted by Wormhole. Furthermore, Injective Pro became the first exchange to list an NFT floor price perpetual market with the BAYC/WETH listing, marking a significant milestone in the NFT space.

Keep an eye on the Injective price today and stay updated with the latest Injective news to make informed decisions about your crypto investments.