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.