As the world witnesses an unprecedented AI explosion, Injective Protocol (INJ) has soared on the wings of cutting-edge innovation and expansion, with a remarkable price increase of more than 300% so far. of the year (YTD).
Hitting a 90-day peak of $5.44 on April 3, the INJ token has become a serious topic of discussion among cryptocurrency enthusiasts. At the time of writing, the price has seen a slight pullback, with INJ trading at $5.3.
Why is the Injective Protocol rising?
Injective, a Layer 1 blockchain network, is at the forefront of the decentralized finance (DeFi) revolution, offering a seamless plug-and-play financial infrastructure, integrating artificial intelligence (AI) into its systems. .
This innovative automation feature allows users to effortlessly launch decentralized applications (dapps) via Injective’s cutting-edge smart contract layer.
Among the variety of notable dApps under the Injective umbrella, Helix, Frontrunner, and Astroport stand out as shining examples. Helix, an order book exchange, and Astroport, an AMM exchange, serve different trading needs, while Frontrunner presents an exhilarating prediction market.
Injective introduces the Sealevel virtual machine suite
In a pioneering move, Injective announced the release of the first Sealevel Virtual Machine (SVM) package, in collaboration with package provider Eclipse, on March 31.
Tailor-made for the Injective Blockchain Community (IBC), the SVM system allows Solana (SOL) developers to seamlessly deploy their Solana smart contracts and dApps directly on the Injective blockchain ecosystem.
This innovative breakthrough allows Solana developers to experiment with their apps in the Cosmos ecosystem without the need to modify the programming language or tools used, giving users a wealth of opportunities to interact with top-tier web3 dapps within of a unified network.
$150 million fund from Injective Protocol to support the Cosmos ecosystem
In January, Injective Protocol launched a staggering $150 million fund to encourage adoption of the Cosmos ecosystem, garnering support from esteemed blockchain investment firms like Kraken Ventures, Pantera Capital, and Jump Crypto.
The future of INJ
The meteoric rise of the Injective Protocol INJ token can be attributed to the ongoing AI revolution, cunning partnerships, and inventive developments within the Injective and Cosmos ecosystems.
As exciting as the current market landscape may be, investors are urged to exercise caution, perform extensive due diligence, and maintain a diversified portfolio to mitigate risks in the ever-volatile world of cryptocurrencies.
