The Engine Behind the Protocol
Injective where INJ is the coin has built one of the largest and fastest-growing Defi ecosystems in the entire world also establishing the Insurance Fund which will be a game-changer for the future of Defi as a consequence of the Injective community building out a solid decentralized exchange ecosystem!
With a solid protocol structure, the Injective community can earn rewards by staking into an Insurance Fund. And in the case when the overall crypto market may be facing volatility and liquidations, staking can even help to hedge risk and offer various safety opportunities.
INJ: Bridging the CEX and DEX
The Injective Protocol INJ aims to create a fully decentralized exchange run fully by the users i.e. token holders on the Injective Protocol network. With this structure, the Injective Protocol is eliminating the presence of any central body controlling the development of the Injective Protocol. Becoming publicly available in 2020 the INJ token immediately received backing from notable names like Hashed, Binance, and Pantera.
You can read more about the Injective Protocol Network-everything you need to know to connect the dots for yourself and see the bigger image of the company.
The Injective chain is the host of the protocol. On the other hand, the Injective chain hosts a fully decentralized order book and uses features from the Ethereum Virtual Machine. Via a bi-directional token bridge, there is a link to the Ethereum network.
As the first of its kind, the protocol is identified as a layer-2 decentralized exchange that brings the full potential of borderless Defi and decentralized derivative to the fore. Designed as a Cosmos SDK module using Ethermint, which is the Ethereum Virtual Machine on Tendermint, the protocol carries out cross-chain derivatives transactions using a Tendermint-based PoS across many layer-1 blockchains like Ethereum, Cosmos, etc. Moreover, the Injective network eliminates front running as well by using Verifiable Delay Function (VDFs) and is also collision-resistant.
The Engine Behind the Protocol
Injective Labs is The company that designed the Injective Protocol and was co-founded by Eric Chen and Albert Chon. Both of them have extended experience in the field. in 2014, before becoming an analyst at AXA Advisors, Eric Chen started his professional career working as a research fellow at Desay Sv Automotive. After leaving Innovating Capital as a researcher in 2017, he co-founded the Injective project in 2018.
Working for Linc Global in 2017, his partner Albert Chon started his professional career as a full-stack engineer before moving to Amazon in 2018 as a software development engineer, and later on, in 2018 he moved to co-found the Injective Protocol.
INJ Price History
On October 21, 2020, the day it became available for trading, the INJ network price opened with a starting price of $1.05, with a trading volume of $45,631,372 and a market cap of $10,124,588. Then, a gradual increase in value followed for the INJ token, through November and December 2020, ending the year with a price of $4.07. The drama started at the beginning of 2021 and the rise became titanic, ending the month of January with a price of $9.49. This occurred partly as a result of the Defi mania that took over the market in the early part of 2021.
The month of February passed by also with a rapid rise through the ranks reaching a price as high as $17. In March and the early part of April, the INJ coin dipped a little and on April 30, 2021, the INJ coin reached its all-time high of $25.01. The token reduced in value once more before rising to reach $24 on May 12, 2021, then dropping in value afterward. The Token has dropped to its previous price of $7.10 on July 15, 2021, and then increased again, and currently, it is worth $11.99 as of September 9, 2021.
A current INJ cost is $11.99. According to this Injective Protocol analysis, today the investment has a 3.5 out of 10 safety rank and +78% expected ROI with the cost moving to $22.43. Market Cap would be the strongest ranking factor for this cryptocurrency.
Injective Protocol investment in 2021 and estimates of the ROI received from the algorithm that analyzed the daily prices of the crypto asset for the last 6 months. This resulted in that the cryptocurrencies are undulatory, which means that there is a strong opportunity that INJ can get near to an all-time high price again in the future.
On CoinMarketCap the INJ token is currently ranked at position 152 and has a verified circulating supply of 32,655,553INJ coins. The market cap is $394,640,595.99with a daily trading volume of $58,011,524.81 and a maximum supply of 100,000,000 INJ tokens as of September 9, 2021.
Meticulously crawling through the historical, present, and possible future data of the Injective token, it is evident that it has a steady and maintained upward climb even with the market ups and downs. For tokens that constantly deliver value to users on its network, it is anticipated to maintain strong performance and high ROI. Furthermore, all the estimates that we represented here, indicate that the INJ coin will continue its strong performance in years to come. For instance, price is predictions for the INJ crypto go like this:
2021 = $10.27
2022 = $21.39
Some investors and analysts anticipate even higher prices i.e. a gradual increase of the INJ token. With all of this data, it is easy to say: INJ token is a good investment for the 2021-2022 period. Important to note: don’t invest money that you need i.e. don’t want to spend, because the risk is always present as it is in everything.