Focused on the DeFi industry, think of Injective Protocol in similar terms to ethereum, Solana, and Cardano. It is an interoperable, open, Layer 1 blockchain optimized for Web 3.0 financial applications.
The protocol has an average transaction cost of less than a cent and can handle thousands of transactions per second (TPS).
With a market cap of over $1 billion, Injective is the 44th largest blockchain project in the world by market cap. So what is the reason for the solid pump during the week?
Injectable Price Pumps in Google Analytics CloudHub
On October 24, Injectiva announced his Integration with Google Cloud’s data sharing platform, CloudHub. That got the INJ community excited about the future possibilities of the Web3 platform.
Eric Chen, CEO and co-founder of Injective Labs, said:
“This integration is a big step forward for the Injective ecosystem to continue expanding its footprint across traditional finance and institutions.”
Kelly Sitarski, director of data and content partnerships at Google Cloud, said:
“We are excited to add Injective blockchain datasets to the Analytics Hub catalog to help customers improve their Web3 financial applications.”
Sitarski noted that the Google Cloud team helps customers like Injective Labs connect their first-party data with third-party data in Google’s BigQuery enterprise data warehouse to enable powerful ai-powered analytics capabilities.
Great ecosystem growth with Helix, Kava, Cosmos
The Injective blockchain ecosystem It’s bustling in 2023. Popular DApps like Helix, Black Panther, and Talis are seeing huge growth in development and user activity.
An announcement last week that multi-chain nft marketplace Dagora had been integrated into Injective’s platform likely added support to Injective’s price pump.
According to Injective’s 2023 DeFi Trader Survey, the majority of respondents (64%), coming from various crypto trading communities, crypto-trading-activity-focused-on-long-term-holding-strategy/” data-wpel-link=”external” target=”_blank”>said a The long-term holding strategy is his “preferred strategy when it comes to DeFi trading.”
In addition to Injective’s integrations and ecosystem growth in recent weeks, bitcoin‘s price rally in October was a rising tide that lifted all boats. That was, of course, another major tailwind that boosted Injective’s price last week.
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