Little-Known Crypto Beats Top 100 Rivals With 23% Rally On Good Friday

Christian Encila

2 years ago

3 mins read

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Injective Protocol’s native crypto, INJ, has been on an impressive winning streak over the past seven days, outshining every other cryptocurrency in the top 100. With an incredible surge of over 20% in just a week, INJ has caught the attention of the crypto world, with many wondering what could be fueling such an impressive rise.

Injective Protocol is a decentralized exchange platform that allows for the trading of any asset across various blockchains, without any centralization or custody. With this innovative approach, Injective has managed to carve a niche for itself in the rapidly evolving DeFi landscape.

The question now on everyone’s mind is whether INJ’s impressive run will continue past Good Friday or come to an end.

INJ Price Surges With New Integrations And Partnerships

The crypto has been on an impressive upward trajectory, propelled by recent developments in the platform’s ecosystem. Coingecko’s latest data shows a current value of $5.76, reflecting a remarkable 7.3% surge in the past 24 hours and an impressive 22.7% increase over the past week.

One of the key drivers of INJ’s recent surge is the introduction of Cascade, the first interchain Solama SVM rollup. This major development paves the way for Injective to unlock the vast $9 billion Solana developer ecosystem. Moreover, the platform’s integration of Pyth, a fast-growing oracle network, has further strengthened its infrastructure and fueled investor confidence.

Another significant factor behind INJ’s recent price spike is the launch of liquid staking through a partnership with Stride. The move allows INJ holders to stake their tokens while still retaining liquidity, offering a more flexible and lucrative option for investors.

To celebrate the launch of liquid staking for INJ, @stride_zone is airdropping 100,000 $STRD tokens to @Injective_ stakers!

Be sure to stake your $INJ to qualify for future airdrops and rewards 🪂 pic.twitter.com/HnOEaf4gve

— Injective 🥷 (@Injective_) April 4, 2023

To commemorate the milestone, Stride has announced that it will airdrop 100,000 STRD tokens to Injective stakers, adding further value to the platform’s already impressive offerings.

Crypto Bullish Trend Suggests More Gains Ahead

TradingView charts for INJ indicates a strong bullish trend in recent months. The token has surpassed all moving averages, while the Relative Strength Index (RSI) continues to rise, signaling further potential upside.

Crypto total market cap barely unchanged at $1.14 trillion on a Black Saturday. Chart - TradingView.com

On the daily chart, the crypto has broken through the key resistance level at $5, reaching its highest level since March 18. This impressive feat suggests that the token is likely to continue its upward trajectory in the coming days, as investors set their sights on the next resistance level at $7.

However, it’s important to note that further gains at this stage may be limited, as the token has already experienced substantial growth. Still, INJ’s bullish trend and recent breakthroughs in its ecosystem suggest that the platform is gaining momentum and becoming an increasingly attractive option for crypto investors.

-Featured image from Crypto Briefing

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.