Introduction
Injective token is a decentralized blockchain that facilitates DeFi (Decentralized Finance) applications in an open and interoperable environment. The platform has smart contract capabilities and leverages a Tendermint Proof-of-Stake (PoS) consensus mechanism for secure and efficient transaction processing. The INJ token serves as the platform’s native cryptocurrency. It allows community members to engage in governance activities, validation processes, and burn auctions, among other use cases.
What is the Injective Token (INJ)?
INJ is the native utility token of Injective, serving as a scarce asset used for multiple purposes on the platform. The token allows governance participation and staking on the Proof-of-Stake network and acts as a value capture mechanism for dApps built on Injective. One unique feature of INJ is the weekly buyback and burn auction, in which 60% of fees collected from dApps are burned, decreasing the token supply over time and contributing to the ecosystem’s value accrual.
In terms of governance, the INJ token enables community members to actively participate in all aspects of Injective, including proposals for chain upgrades, through a DAO governance vote. The comprehensive governance page provides transparency and accessibility to all community members.
Regarding value capture, INJ is critical in incentivizing developers to build on the platform. 40% of fees generated from dApps are directed towards incentivizing new developers, attracting a growing number of builders to the Injective ecosystem.
Finally, INJ is used to secure the Injective blockchain through a Tendermint-based Proof-of-Stake (PoS) mechanism. Validators and delegators can both participate in staking, providing further security for the platform.
History of Injective Protocol (INJ)
Injective was incubated by Binance Labs in 2018, making it the first Binance Labs incubated project to launch on Binance Launchpad in 2020. The platform officially launched its main net in November 2021, marking a significant milestone in its development.
In August 2022, Injective announced a successful funding round led by Jump Crypto and BH Digital, raising $40M. This funding will be used to develop the platform further, expand its user base, and support the growth of the Injective ecosystem. With this investment, Injective is well-positioned to continue its trajectory as a leading platform for decentralized finance applications.
Where Can You Buy Injective Protocol (INJ)?
INJ tokens are available on various major cryptocurrency exchanges, providing users with options for purchasing and trading the token. Binance currently has the highest INJ/USD trading volume, making it a popular choice for those interested in purchasing INJ.
Other exchanges where INJ is available to include Bilaxy, Huobi Global, and Uniswap, among others. It is important to note that buying and trading cryptocurrencies involve volatility, liquidity, and security risks. As with any investment, users should carefully consider their investment objectives and risks before purchasing INJ or any other cryptocurrency.
Injective Protocol (INJ) Live Price, Market Cap, Volume, Supply.
| # | Name | Price | Changes 24h | Market CAP | Volume | Supply |
|---|
Injective Protocol (INJ) price prediction 2023-2034.
| Years | Avg Price | Lowest Price | Highest Price |
|---|---|---|---|
| 2023 | $3.29 | $2.64 | $3.95 |
| 2024 | $2.90 | $2.32 | $3.48 |
| 2025 | $3.63 | $2.90 | $4.36 |
| 2026 | $4.54 | $3.63 | $5.44 |
| 2027 | $5.67 | $4.54 | $6.81 |
| 2028 | $7.09 | $5.67 | $8.51 |
| 2029 | $8.86 | $7.09 | $10.63 |
| 2030 | $11.08 | $8.86 | $13.29 |
| 2031 | $13.85 | $11.08 | $16.62 |
| 2032 | $17.31 | $13.85 | $20.77 |
| 2033 | $21.64 | $17.31 | $25.96 |
| 2034 | $27.05 | $21.64 | $32.45 |
Injective Token (INJ) price prediction 2023
According to our analysis, Injective’s price for 2023 should range between $2.64 to $3.95, and the average price of INJ should be around $3.29.
Injective Token (INJ) price prediction 2024
According to our analysis, Injective’s price for 2024 should range between $2.32 to $3.48, and the average price of INJ should be around $2.90.
Injective Token (INJ) price prediction 2025
According to our analysis, Injective’s price for 2025 should range between $2.90 to $4.36, and the average price of INJ should be around $3.63.
Injective Token (INJ) price prediction 2026
According to our analysis, Injective’s price for 2026 should range between $3.63 to $5.44, and the average price of INJ should be around $4.54.
Injective Token (INJ) price prediction 2027
According to our analysis, Injective’s price for 2027 should range between $4.54 to $6.81, and the average price of INJ should be around $5.67.
Injective Token (INJ) price prediction 2028
According to our analysis, Injective’s price for 2028 should range between $5.67 to $8.51, and the average price of INJ should be around $7.09.
Injective Token (INJ) price prediction 2029
According to our analysis, Injective’s price for 2029 should range between $7.09 to $10.63, and the average price of INJ should be around $8.86.
Injective Token (INJ) price prediction 2030
According to our analysis, Injective’s price for 2030 should range between $8.86 to $13.29, and the average price of INJ should be around $11.08.
Injective Token (INJ) price prediction 2031
According to our analysis, Injective’s price for 2031 should range between $11.08 to $16.62, and the average price of INJ should be around $13.85.
Injective Token (INJ) price prediction 2032
According to our analysis, Injective’s price for 2032 should range between $13.85 to $20.77, and the average price of INJ should be around $17.31.
Injective Token (INJ) price prediction 2033
According to our analysis, Injective’s price for 2033 should range between $17.31 to $25.96, and the average price of INJ should be around $21.64.
Injective Token (INJ) price prediction 2034
According to our analysis, Injective’s price for 2034 should range between $21.64 to $32.45, and the average price of INJ should be around $27.05.
FAQs
What was the highest price of Injective?
The highest price for Injective was recorded on 30th April 2021, during which INJ hit an All-Time High of $24.89
What is the purpose of the INJ token?
INJ is the native cryptocurrency of Injective Protocol, serving as a utility token that allows community members to participate in governance, staking, and value capture mechanisms, such as the weekly buyback and burn auction. INJ can be used for protocol upgrades, network security, incentivizing developers, and more.
How is Injective Protocol different from other blockchain platforms?
Injective Protocol distinguishes itself from other blockchain platforms by focusing on the needs of the DeFi ecosystem. Its open, interoperable design allows seamless integration with different protocols and dApps, while its unique tokenomics incentivises community participation and value accrual. Additionally, Injective’s use of Tendermint PoS consensus ensures fast and secure user transactions.
What is the price of 1 Injective?
The price of 1 Injective, according to the current market rate, is $6.30
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