Injectable (INJ) Helix describes pre-start futures

Injectable (INJ) rose to $8.20 on Wednesday. The earnings came as Layer-1 blockchain network DEX platform Helix unveiled its pre-launch futures products. Celestia (TIA) is the first pre-launch futures token to list on Helix.

Injective (INJ), a layer-1 blockchain, is showing an increase in price today, adding to last week's rally. The altcoin's price is currently up just 3.5% over the past 24 hours, with INJ/USD making the most notable gains during the day when it hit $8.20.

INJ rose to $9.40 in April of this year before losing momentum in early 2023 alongside the crypto market. In 2021, the price of INJ increased to an all-time high of $24.89.

Helix shows pre-launch futures

The Injective price gains come as the Injective blockchain was added to the network's ranks last week, which includes integration with NFT marketplace Dagora and the new Launchpad InjMarket.

The latest milestone was achieved by Helix, a decentralized exchange (DEX) that introduced pre-launch futures on Injective on Wednesday. The product allows customers to trade popular tokens before their official launch.

“Pre-launch futures are futures markets for tokens that haven't yet launched. Effectively, this allows users to trade pre-launch markets typically held by early contributors, VCs or wealthy insiders,” the Helix team said in a blog post on Wednesday.

The first token on Helix's pre-launch futures market is Celestia (TIA), the native modular data network developed by Celestia Labs. The recent airdrop of the platform that ended today may have helped the overall sentiment in the vaccine market.

Expected to go live on major crypto exchanges in the coming weeks, TIA will be used for transaction fees. The token also has a payment burning mechanism similar to Ethereum EIP-1559.