Injective (INJ) has risen from $38 to $43 in the last few hours by press time, according to Coingecko data.
Last Thursday, the INJ token rose to $29 while the price of the cryptocurrency climbed 48.28% in one week. At the moment, the price of the INJ has risen to $43.20, which is the highest price it registered so far.
Over the past month, the price of the cryptocurrency has increased by more than 150%. This has made it one of the most talked about in the cryptocurrency community.
According to data aggregator Crowd Wisdom, the price of INJ will rise to $63.2 in 2025, and will almost double to $150 in 2025. CoinCodex is more optimistic. According to the aggregator, the price of INJ could rise to $54.23 and to $82.58 in 2025
Crypto Tony — a crypto trader with over 370k subscribers on X — expects the price to approach $65 at the beginning of the year. He also believes that there will be a correction. After that, the price of INJ could reach $70 and higher.
At the time of writing, INJ is ranked 25th in the Market Cap Rank.
What is INJ token?
Injective Labs was founded in 2018 by Eric Chen and Albert Chon, and is the driving force behind the Injective protocol. As a research and development company, it focuses on cutting-edge technologies in decentralized finance.
Injective is a level 1 blockchain. It runs on the open source framework Cosmos-SDK. Injective helps build financial DeFi applications. For example, decentralized exchanges, NFT marketplaces, price prediction aggregators. According to the cryptocurrency’s website, it is the world’s first blockchain with auto-execution in smart contracts.
The network is uses its the INJ token to secure the network through the implementation of a proof-of-stake consensus protocol. This is an approach with a shorter track record compared to Bitcoin’s (BTC) proof-of-work protocol, but a much more efficient one.
