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#BTC - Unusual buying activity
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$INJ $BTC $ETH Injective Protocol INJ $39.50 -3.75% $37.94 24H Price $41.39 About Injective Protocol The Injective Protocol price is $39.50, a change of -3.75% over the past 24 hours as of 11:35 a.m. The recent price action in Injective Protocol left the tokens market capitalization at $3.49B. So far this year, Injective Protocol has a change of 8.05%. Injective Protocol is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS). INJ is the native token of Injective Protocol, a blockchain protocol optimized for trading assets across different blockchains. It specializes in tokenized derivatives, including stock tokens – cryptocurrencies pegged to the price of stocks like Apple and Google. INJ price INJ was worth $0.77 when it launched in October 2020. The token rose to a high of $25.01 on April 30, 2021, just as the crypto market swelled to an all-time high. The token’s price was volatile for the rest of 2021 but trended downward. INJ slumped even further in May 2022, when it fell to lows of $1.55. However, INJ’s deflationary measure (more on that later) meant that its market cap peaked in November 2021 at $590 million, up from its April peak of $521 million – even though its price wasn’t as high. INJ’s market cap sank to about $120 million when the token crashed in May 2022. So did Injective’s total valued locked (TVL), which cratered from highs of $182 million in February 2022 to $64 million in June 2022. Injective launched the token with an initial supply of 100 million INJ tokens. It aims to increase these over time through block rewards – where new INJ tokens are issued to those that validate batches of transactions on its proof-of-stake side chain. At launch, Injective targeted the rate of annual inflation at 7%, and aims to decrease this to 2% “over time.” Injective also incorporated a deflationary measure to counteract rampant inflation. Every two weeks, the protocol sells 60% of the trading fees it accumulates for INJ, then burns that INJ to deflate the token’s total supply.

$INJ $BTC $ETH

Injective Protocol

INJ

$39.50

-3.75%

$37.94

24H Price

$41.39

About Injective Protocol

The Injective Protocol price is $39.50, a change of -3.75% over the past 24 hours as of 11:35 a.m. The recent price action in Injective Protocol left the tokens market capitalization at $3.49B. So far this year, Injective Protocol has a change of 8.05%. Injective Protocol is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).

INJ is the native token of Injective Protocol, a blockchain protocol optimized for trading assets across different blockchains. It specializes in tokenized derivatives, including stock tokens – cryptocurrencies pegged to the price of stocks like Apple and Google.

INJ price

INJ was worth $0.77 when it launched in October 2020. The token rose to a high of $25.01 on April 30, 2021, just as the crypto market swelled to an all-time high. The token’s price was volatile for the rest of 2021 but trended downward. INJ slumped even further in May 2022, when it fell to lows of $1.55.

However, INJ’s deflationary measure (more on that later) meant that its market cap peaked in November 2021 at $590 million, up from its April peak of $521 million – even though its price wasn’t as high.

INJ’s market cap sank to about $120 million when the token crashed in May 2022. So did Injective’s total valued locked (TVL), which cratered from highs of $182 million in February 2022 to $64 million in June 2022.

Injective launched the token with an initial supply of 100 million INJ tokens. It aims to increase these over time through block rewards – where new INJ tokens are issued to those that validate batches of transactions on its proof-of-stake side chain.

At launch, Injective targeted the rate of annual inflation at 7%, and aims to decrease this to 2% “over time.” Injective also incorporated a deflationary measure to counteract rampant inflation. Every two weeks, the protocol sells 60% of the trading fees it accumulates for INJ, then burns that INJ to deflate the token’s total supply.