Injective, a Cosmos-based blockchain whose token price $INJ increased 33-fold in 2023, only to fall this year, is now planning a significant expansion - launching its own layer 3 network in the ecosystem. Ethereum, based on the technology of the layer 2 project Arbitrum.

Injective's "inEVM", compatible with the Ethereum Virtual Machine (EVM) operating system and connecting the Ethereum, Cosmos and Solana networks, will base its infrastructure on Arbitrum's Orbit toolkit, allowing developers developers build customizable chains with Arbitrum's technology while accessing interoperability across multiple ecosystems.

Theoretically, the move could inject new energy into the INJ token, which outperformed nearly all of its peers in the digital asset market last year, at times by leaps and bounds. to a market capitalization of more than $4 billion.

This year, the cryptocurrency market has moved higher, with the benchmarkCoinDesk 20 index up 25% year-to-date. But in the eyes of traders at least, INJ has reversed course, down nearly 30% so far in 2024.