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DEX platform Injective Protocol (INJ) propaganda more than 100x gains after launching cross-chain support for Cosmos

14 Feb 2022 By : Coin Gabbar
DEX platform Injecti

Trading perpetual futures contracts in decentralized apps is acrypto sub-sector ripe for growth, especially as discussions of regulation,taxation and mandatory KYC at centralized exchanges continue to take place.

One DEX platform that has begun to gain traction is Injective(INJ), an interoperable layer-one protocol designed to facilitate the creationof cross-chain Web3 decentralized finance (DeFi) applications.

Data shows that after hitting a low of $3.91 on Feb. 3, theprice of INJ has flaunted its gain of 157.8% to a daily high of $10.08 on Feb.11 amidst a 1,756% spike meaning the immense rocket price of its initial andafter price gains in its 24-hour trading volume to $306 million.

Three reasons for the spike in demand for INJ include theaddition of support for new assets in spot and perpetual markets, the releaseof Injective Bridge v2 and a climbing total value locked on the protocol as aresult of staking and the addition of new assets.