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The Token Unlocks account on Platform X has revealed that Injective Blockchain (INJ) is preparing to implement the final phase of its token release.
According to this post, all INJ tokens will be fully released and distributed on January 21st, and after release, 3.66 million INJ tokens will be in circulation.
The token release allows participants who have missed out on INJ's impressive price performance to own a share of the cryptocurrency.
At the time of publishing this news, the injective token is priced at $37.70. The price ceiling of this digital currency was recorded on December 26, 2023, reaching the level of $44.61.
Market data also shows that the price of this cryptocurrency has grown by around 3515% since its release in 2020. Some market participants believe that this cryptocurrency could start another rally after the token release event.
Captain Fibek is one of the analysts who believes in the potential of this digital currency to rise.
According to him, a bullish flag has formed in the chart of this digital currency and its price may increase up to 60 dollars. On the other hand, signs of descent are also observed in the injective chart.
However, as long as the price can stay above $35, an upward movement and even reaching levels like $60 will be possible
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