The Injective Protocol is a DeFi platform offering low fees and high scalability. Will the price of INJ increase in 2025? Could INJ crypto even reach $100?
Bitcoin, Ethereum, Solana and decentralized finance (DeFi) tokens like Injective have not been spared by sellers. At the time of writing, not only is the total market capitalization bleeding, but there is also there is a real risk that BTC and ETH could fall below crucial support levels.
There are critical support zones to watch closely at $90,000 and $90,000.3,200, for Bitcoin and Ethereum, respectively. Meanwhile, altcoin traders are closely watching INJ .cwp-coin-chart svg path { Stroke: ; line width: ; }
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INJ is the token that powers the DeFi-focused platform, Injective Protocol. Over the past two years, INJ has been increasing, reaching a sharp rise in 2024. At spot rates, not only has INJ outperformed Solana and even Tron, but following carve out the market share, and quickly increased the total value locked (TVL), looking at DeFiLlama.
(Source)
Even if cryptocurrency prices remain fragile, optimism is high. with supporters believe the token can easily fly to new levels. Will this happen?
Analysts believe INJ can spearhead the recovery for what is now emerging, dating back to December highs.
Behind their bullish position lie several compelling reasons:
Grayscale’s approval of INJ could trigger a mega boost
Partly because Thanks to its exceptional performance over the past 24 months, Grayscale, one of the largest digital asset managers, recently included INJ in its long list of potential investment products.
This clearly indicates that despite everything, INJ arouses the interest of institutions.
One of the largest institutional asset managers, Grayscale, with over $50 billion in assets under management, has just added $INJ to its list of assets under consideration this week.
Grayscale is known for adding only the most in-demand crypto assets to its platform. If added, INJ would be…
— Mirza.inj
(@mirza_inj) January 11, 2025
(@mirza_inj) If the INJ is ultimately approved and trust is formed around the token, institutions can gain visibility by purchasing shares backed by the INJ.
Taking inspiration from Ethereum and Bitcoin, the trust could, in the long term, be converted into an exchange-traded fund (ETF).
For now, fans should keep their fingers crossed as the selection process is complex and could take weeks.
Injective 3.0 upgrade approved: could it change the price of INJ?
Grayscale’s approval also coincides with when the platform is considering a transition.
Last week, the community voted approving the transition from Era 2.0 to Era 3.0.
The governance proposal to begin the next phase of $INJ Version 3.0 passed with 99.99% of community members voting YES.
The new chapter of INJ 3.0 is now live to significantly reduce the token supply, allowing INJ to become one of the most deflationary assets over time. pic.twitter.com/YJNCQsIiD7
— Injective
This is an upgrade that will implement significant tokenomics changes that will benefit token holders and value accumulation.
For example, Injective enabled real-time adaptation of token supply based on staking activity. This change alone improves staking rewards for INJ holders while making the token more deflationary.
This is an interesting change because even before this transition, Injective was offering a 10.66% staking yield, which is much higher than what SOL and ETH stakers receive.
High speed, low transaction fees, and a secure and vibrant ecosystem could explain why Injective’s TVL has increased. Interest in protocols like Hydro and Helix explains the increase in assets under management.
Is INJ crypto undervalued in the ongoing crypto crash?
Given its role in DeFi, the growing global interest in crypto, and the growth of Injective, one trader is convinced that INJ is undervalued.
In an article on
From the charts, the analyst is confident that if INJ reclaims the $25 and January highs, prices are likely to rise. higher. THE following targets will be December highs and Q1 2024 highs before prices double to $100.
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The article 3 Reasons Why Injective (INJ) May Rally Despite Bitcoin’s Slippage appeared first on 99Bitcoins.
