• Injective Protocol (INJ) is a decentralized exchange (DEX) that provides cross-chain margin trading, derivatives, and currency futures trading.
• The protocol uses cross-chain bridges to allow traders to access cryptocurrencies from platforms such as Ethereum and Polkadot.
• Injective (INJ) price prediction for 2023 is between $2.771 and $10.537.
Injective Protocol (INJ) is a decentralized exchange (DEX) built on the Cosmos blockchain that provides users with access to a wide range of financial services, including margin trading, derivatives, and currency futures trading. Injective allows traders to access cryptocurrencies from platforms such as Ethereum and Polkadot using cross-chain bridges. The protocol does not use an automated market maker (AMM) algorithm to maintain liquidity, instead relying on the order book concept, which has been extensively adopted by centralized stock and cryptocurrency exchanges for many years.
Injective Exchange traders only pay regular market maker and taker fees using INJ coins, rather than network gas fees for each transaction. INJ coins also act as the platform’s governance token and staking mechanism, enabling users to earn rewards for participating in the network. The INJ token also serves as a unit of payment for fees associated with transactions on the Injective platform, such as margin lending and futures trading.
The current market status of Injective (INJ) shows that the price is currently at $2.64, with a 24-hour trading volume of $58,336,674 and a 24-hour price change of 2.1% up. The all-time high of Injective (INJ) is $24.89, which was seen on April 30, 2021.
Injective (INJ) price prediction for 2023 is that the price could hit as high as $10.537, while the bearish prediction is that the price could drop to $1.124. This price prediction is based on statistics, price patterns, RSI, RVOL, and other information about INJ.
Overall, Injective Protocol (INJ) is an innovative platform that provides users with access to a wide range of financial services. With the current market status and the bullish price prediction for 2023, it is expected that INJ could reach $4 soon.