Why Injective is accumulating 50 million INJ as TVL Surges.
Finance-focused blockchain Injective will hold 50 million domestic injectable (INJ) coins in the near future. Last month, the number of shared coins grew to 47 million.
The total amount of coins held has grown steadily to 47.7% of INJ's supply over the past year. The Injective team has pledged to distribute another 50,000,000 INJ.
How to improve Tokenization injection
The injectable project yields 15.96% of the stock. The number of delegates on the Inject network is constantly increasing.
Adding more reserved coins and delegations suggests that the network is preparing extremely well for 2024. These efforts, along with injectable recent improvements, can increase network utilization. A proof-of-stake mechanism protects the blockchain.
Total Locked Value (TVL) on Injective's decentralized finance marketplace has grown by an impressive 42% to $49 million in the past 24 hours. DojoSwap, the network's decentralized exchange, saw just $27 million in withdrawals.
The project recently rolled out an update to Vol. The update started on January 11, 2024.
The changes include a Real World Asset (RWA) module for institutions. The RWA module contains a special permission layer.
Read more: What is Tokenization on Blockchain?
A new application programming interface (API) reduces latency by 90 percent. A new off-chain upgrade allows the injective blockchain to connect to other networks with an improved command line. The number of injectable core developers has dropped from 22 to 14 in recent weeks.
A token needs rules to be successful
Injective is built specifically for advanced decentralized financial services. Founded in 2018 by Albert Chon and Eric Chen.
Injective emphasizes cross-chain scalability, which is increasingly important as cryptocurrencies battle for mainstream adoption. In addition, Stablecoins Club and word of mouth specialist Chainlink both offer communication solutions.
The asset token segment targeted for injection reform in 2018. It is poised to grow rapidly by 2024. With that being said, technology will not be a bottleneck like injectable modules.
Read more: How Decentralized Finance Works and Use Cases
According to Algorand Foundation CEO Stacy Warden, for a token to be successful, all partners must move in unison. Otherwise, the financial benefits of blockchains cannot be fully realized.
Warden says that tokenizing assets on the blockchain is technologically less trivial than the regulatory challenges. For example, the question of whether stablecoins are equal to the value of fiat currency is still under debate in many regions.
“The fear is, and the reluctance is not the token side; it's the money side. So if you can tokenize assets and deposit money on-chain, [then] You can do atomic swaps. The problem is, does that side of money hold value, does that stable coin hold value?”
INJ price predictions
Injectable (INJ) prices have been trading in an ascending triangle since December 16. Ascending triangles are considered aggressive patterns, meaning they often lead to breakouts.
Today, INJ has appeared at the support trend line for the fifth time (green icons), starting an upward movement. The triangle protector is priced at $43.
A breakdown that travels the entire length of the pattern will take the INJ to $66, a 65% increase from its current price. Despite this bullish price projection, a close below the triangle's upward support trendline will negate the positive outlook. Then INJ could fall 25% to the nearest support at $30.
Read more: Top 7 Web3 projects that are revolutionizing the industry
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