Injective (INJ) Bounces Back: Investor Momentum Sparks 12% Rally
09 Agosto 2024 - 7:30AM
NEWSBTC
Injective starts the day with a bang as INJ, the platform’s native
token gained over 12% in the past 24 hours. This can be attributed
to the market’s surprising rally, complemented by a market
cap that is up by over 6% after its dip earlier this week.
Related Reading: Dogecoin Price Looking Stronger – ‘Expect Massive
Gains’, Analyst Predicts The rally is also due to Injective’s
recent achievements that spur some buzz within and outside their
community. Investors might find some value on INJ as it continues
to grow and innovate. Utila Announces Support For Injective
Ecosystem Today, the institutional wallet and blockchain
infrastructure-focused Utila announced its support for the
Injective ecosystem. The move came after Utila acknowledged several
features that make it attractive for itself and for organizations
that use the platform. 🚀 Exciting News: Utila Now Supports
Injective 🌐⛓️ We’re thrilled to announce that Utila now supports
@injective , the blockchain built for finance, further expanding
your digital asset management capabilities. Renowned for its
plug-and-play infrastructure, Injective enables…
pic.twitter.com/Z64aGjIOmM — Utila (@utila_io) August 8, 2024
“Renowned for its plug-and-play infrastructure, Injective enables
the rapid deployment of sophisticated functionalities into
applications, encompassing decentralized trading, lending,
real-world assets (RWAs), and more,” stated Utila in their
announcement post on X. This will grow the Injective user
base to not only include retail investors and crypto enthusiasts.
It will help the platform grow more maturely, getting
institutional-level attention through the use of its robust network
while also benefiting from Utila’s strong security as well.
With interest in crypto increasing in traditional finance, the
growing convenience of onboarding crypto into their portfolios will
make a huge difference. This has occurred already, with more and
more crypto-based exchange-traded funds (ETFs) being announced
since then. INJ Trading At A Trendline Pointing Upward Looking at
INJ’s chart, the token is currently situated on its late-November
2023 level that preceded the December rally occurring that same
year. If it were to happen again, investors might see huge
gains in the long term as the market warms up for more
action. However, INJ bulls are facing slight resistance on
$18.02 as the candle flips red. This difficulty might slow the
bullish momentum, lowering volatility as the token floats between
$18.02 and $21.16. A slight pause might transpire in the short term
as bulls take advantage of the low volatility to gain momentum once
more. Related Reading: Polkadot Developments Show Strength,
Despite Coin’s 18% Loss As recession fears die down along the way,
bullishness in traditional finance might continue with major
indices like the S&P 500 and the Dow Jones spotted making gains
which has a huge upside probability in the long run. But analysts
like 8th Wonder believes that the current rally is a short squeeze
as the current movement is a classic squeeze: a sharp and short
uptick in price before being followed by a free fall. If the price
of major cryptocurrencies are in fact in a short squeeze, investors
will inevitably feel pain in the long run. Featured image
from Facts.net, chart from TradingView
Polkadot (COIN:DOTUSD)
Gráfica de Acción Histórica
De Jul 2024 a Ago 2024
Polkadot (COIN:DOTUSD)
Gráfica de Acción Histórica
De Ago 2023 a Ago 2024