This Altcoin Went Overboard Just Within a Day

Injective Protocol (INJ) is a cryptocurrency that offers margin trading within its decentralized exchange. It also provides extensive cross-chain platform derivatives and other services.

Screenshot Image of Injective Website https://injectiveprotocol.com/

The altcoin plays a role in collateralization, security, incentives, and fees that functions as an exchange’s native utility and governance token.

INJ Team announced that for Cosmos (ATOM) platform on perpetual futures, they enabled leverage of zero-gas fee trading.

It's here Cosmonauts: The first ever decentralized $ATOM Perpetual Futures are on Injective Pro!

Trade @cosmos perpetuals with leverage & zero gas fees. Injective Pro brings the best CEX features to the first fully decentralized derivatives exchange ⚛️https://t.co/U8Q09NdMkb

— Injective 🥷 (@InjectiveLabs) February 9, 2022

The INJ price doubles in less than 24 hours; this altcoin crypto was overlooked while the most crypto market tries to pump, which are highly observed by the crypto community.

Last weekend, INJ went as high to $10.00 from around $4.78 the next day. The Injective Protocol cryptocurrency represented an increase of almost 110% just within a day.

What mostly or undoubtedly caused the token’s surge was an announcement that the team is currently developing a new user interface to list a spot marketing trading pair accessible by anyone.

Currently, Injective Protocol has cooled down from its high price. 

Sources

• Under-the-Radar Decentralized Finance Altcoin Rallies Over 100% in Less Than a Day As Ecosystem Explodes – The Daily Hodl