• Injective (INJ) is a decentralized exchange that provides cross-chain margin trading, derivatives, and currency futures trading.
• The current market status of INJ is it has a 24 – Hour Trading Volume of $121,867,802 and 24 – Hour Price Change of 6.42% Down.
• The INJ price prediction for 2023 is $9.121 to $24.462 with a bearish prediction of $2.420

What Is Injective (INJ)?

Injective Protocol (INJ) is a decentralized exchange (DEX) that provides cross-chain margin trading, derivatives, and currency futures trading. The Injective Protocol is a Layer 2 application developed on the Cosmos blockchain. The protocol uses cross-chain bridges to allow traders to access cryptocurrencies from platforms such as Ethereum and Polkadot. Injective Protocol, unlike other prominent decentralized exchanges like Uniswap or Bancor, does not use an automated market maker (AMM) algorithm to maintain liquidity. Instead, Injective utilizes the order book concept, which has been extensively adopted by centralized stock and cryptocurrency exchanges for many years. In this way, Injective hopes to combine the efficiency of traditional banking with the transparency of decentralized exchanges.

Injective (INJ) Current Market Status

Injective (INJ) ranks 68th on CoinMarketCap in terms of its market capitalization. The current price of INJ is $8.34 with 24 – Hour Trading Volume at $121,867,802 and 24 – Hour Price Change at 6.42% Down circulating Supply being 80,005,555 All – Time High was recorded at $25 .01 on April 30 2021

Injecitive(INJ) Price Prediction 2023

The overview of the Injective price prediction for 2023 is explained below with a daily time frame using accurate trader-friendly technical analysis indicators predicting future movement in the cryptocurrency prices.. INJ/USDT Elliot Wave: Motive phase Pattern shows us that there’s bullish forecast ranging from $9 .121 to$24 .462 while there’s also bearish prediction as low as$2 .420

Conclusion

In conclusion we have seen that injectivie(INJ), being one of the top decentralised exchanges are currently ranking 68th on CoinMarketCap in terms of its market capitalisation with current price at 8 .34 USDT having 24 -Hour Trading Volume at 121 , 867 , 802 USDT and 24 -Hour Price Change at 6 . 42 % Down circulating Supply being 80 , 005 , 555 All -Time High recorded at 25 . 01 USDT on April 30 2021 With bullish forecasts ranging from 9 . 121 USDT to 24 . 462 USDT and bearish predictions as low as 2 . 420 USDT giving investors much needed confidence when investing in this crypto asset

Takeaway

It pays off big time when investors do their due diligence before investing in any cryptocurrency assets taking into account all factors influencing their decisions such as technical analysis indicators , historical data along with news events impacting the performance of these digital assets by doing so they can maximise their returns while minimising risk associated with their investment