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Injective is among the best-performing cryptocurrencies this week, with a gain of over 54%. The price has jumped from about $8.18 to $12.8. Injective’s recent notable rise can be attributed to an innovative feature introduced by Helix, the decentralized exchange (DEX) operating on the Injective Layer-1 blockchain.
On October 19, Helix introduced pre-launch futures trading, allowing cryptocurrency enthusiasts to speculate on tokens that have not yet officially debuted on the market or exchange platforms.
This was followed by an announcement on October 24 that marked a significant step in making Web3 financial data accessible to a broader audience, when Helix revealed its integration with Google Cloud BigQuery.
According to the official statement, this integration features Injective Nexus, a platform that facilitates the sharing of Injective core chain data with the broader community. This data is available in BigQuery through Analytics Hub, Google Cloud’s proprietary data sharing platform.
1/ Introducing Injective Nexus: integration and availability of official Injective data on Google Cloud.
Injective network core chain data will now be accessible in BigQuery through Analytics Hub, Google Cloud’s exclusive data sharing platform.https://t.co/V5gOyvAQe2
– Injective (@Injective_) October 24, 2023
It is common in the cryptosphere for projects to announce collaborations with Google Cloud, often resulting in price increases. However, many of these developments, touted as collaborations, may not have significant weight in the cryptocurrency market.
Injective Nexus, on the other hand, aims to offer developers and institutions access to private data sets through the Injective network. This means that Google Cloud customers and businesses can use Injective’s unique data sets for a variety of purposes, including DeFi applications, machine learning, and the development of enterprise trading strategies.
INJ Token Price Prediction
Injective is currently valued at $12.6, with a 24-hour trading volume of $357.88 million and a market capitalization of $1.02 billion. Over the last 24 hours, the price of $INJ has seen an increase of more than 6%.
Based on technical indicators, Injective’s 200-day SMA is expected to rise and reach $7.52 by November 24, 2023, while the near-term 50-day SMA is projected to reach $10.58 by same date. The Relative Strength Index (RSI) stands at 89.76, indicating that the $INJ market is in an overbought condition.
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Looking ahead, $INJ price appears poised for a possible rally, with initial targets set at $16 and then $25. With positive momentum on its side, $INJ appears well positioned to sustain its impressive growth.
The broader enthusiasm surrounding DeFi could provide additional momentum to the token, potentially propelling it to new all-time highs.
For a full Injective cryptocurrency price prediction, watch the video above and subscribe to their Youtube channel for additional crypto-related content. Jacob crypto Bury also runs a Discord community with 17,000 members, providing trading insights and information on upcoming cryptocurrency pre-sales.
Injectable alternative with high profit potential
While the injectable cryptocurrency demonstrates an upward trend, investors continue to look for cryptocurrencies with significant growth potential, especially those available during the pre-sale stage at deeply discounted rates.
A standout option is bitcoin Minetrix, which features a unique “Stake-to-Mine” concept. This project’s native cryptocurrency, $BTCMTX, recently entered pre-sale and quickly gained substantial attention from investors, amassing over $2 million in just one month.
During the pre-sale phase, investors can purchase $BTCMTX tokens at an attractive rate of $0.0112. The project employs a tiered pricing structure throughout its twenty-phase pre-sale, with token prices increasing gradually, culminating in a final pre-sale price of $0.0129.
Traditional cloud mining deals have often exposed investors to the risk of scams as they involved purchasing cash contracts from mining companies. bitcoin Minetrix, on the other hand, features the innovative ‘Stake-to-Mine’ system, which allows users to stake $BTCMTX tokens and receive mining credits in return.
#BitcoinMinetrix is an innovative cloud mining platform that allows everyday people to participate in decentralized operations. $btc mining.
By eradicating the risks of third-party cloud mining scams, it gives users full authority over their mining operations. pic.twitter.com/BXhbDQkO0I
—Bitcoinminetrix (@bitcoinminetrix) October 25, 2023
These credits, although non-negotiable, grant access to bitcoin mining power, ensuring a safe and scam-free experience. Importantly, if you decide to leave the platform, you will have the flexibility to sell your $BTCMTX tokens without being tied to locked contracts, maintaining full control over your funds.
Additionally, this cloud mining approach significantly minimizes the environmental impact often associated with traditional bitcoin mining. The project has set a token supply limit of 4 billion, of which 42.5% is allocated for mining.
bitcoin Minetrix aims to raise over $33.46 million as a hard cap target, with 70% of the token supply allocated for this purpose. These funds will be used for platform development, marketing and rental of cloud mining facilities.
The main goal of the platform is to simplify and secure the intricate realm of bitcoin mining, especially for newcomers. With its $BTCMTX token, bitcoin Minetrix offers an accessible and easy way to earn bitcoin income through cloud mining.
Related
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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