Injective Coin Reaches 300 Million On-Chain Transactions
Injective Coin, a prominent cryptocurrency platform, achieved a significant milestone on October 16 by processing its 300 millionth on-chain transaction. This achievement coincided with the coin’s consistent upward trajectory in value. The platform gained attention in the summer of 2023 when it launched a hackathon, establishing itself as a prominent player in the crypto market.
INJ Coin Shows Positive Momentum
Despite facing occasional challenges in the market, the INJ coin has tripled its value since the summer and is now inching closer to the $10 resistance mark. As of October 20th, the coin is trading at $8.70 and has seen a 6% increase. Technical analysis suggests that INJ/USD may break above $8.80 and potentially retest $9.97 in the coming days.
Injective Launches Illuminate Hackathon
Injective recently announced the launch of the Illuminate Hackathon, a month-long event supported by Google Cloud. With a generous $100,000 prize pool, this hackathon aims to foster innovation in web3 finance applications.
Helix DEX Supports Pre-Launch Futures
Helix, Injective’s decentralized exchange, has pledged its support for pre-launch futures, ensuring equal market access for traders. This move is significant as pre-launch futures were previously limited to early contributors or venture capitalists.
INJ Coin Price Prediction
Based on Elliott Wave theory, technical analysts predict a bullish trend for INJ Coin. If this prediction holds true, INJ may reach a peak of $25, close to its all-time high of $25.30. In an extended trend, the coin could even reach $36.50. However, if there is a weekly close below support levels, this prediction may be invalidated.
Injective’s Social Dominance and Impact
Injective has gained significant traction in terms of social dominance, indicating increased interest in the project. The upcoming launch of the Helix DEX on the Injective blockchain has generated buzz, especially due to its promise of pre-launch futures for popular token markets.
Bitcoin Minetrix ICO Raises $1.6 Million
Bitcoin Minetrix, a new cryptocurrency ICO, has raised over $1.6 million. This unique project aims to tokenize the cloud mining process, allowing investors to stake BTCMTX tokens and convert them into cloud mining credits. The mined Bitcoin is then distributed to the stakers.
Innovative Approach to Cloud Mining
Bitcoin Minetrix addresses the high costs and scams associated with Bitcoin mining by offering a stake-to-mine feature and reduced entry costs. Early investors in the ICO have the potential to earn an estimated APY of over 300% paid in tokens. The project’s whitepaper outlines a total supply of 4 billion BTCMTX tokens, with 70% available during a 10-stage ICO.
Hot Take: Injective Coin Continues to Thrive
Injective Coin’s achievement of 300 million on-chain transactions is a testament to its growing prominence in the crypto market. With its consistent upward trajectory and the launch of the Illuminate Hackathon, Injective is attracting attention from both investors and traders. The upcoming launch of the Helix DEX and its support for pre-launch futures further solidify Injective’s position as an innovative platform. Meanwhile, Bitcoin Minetrix offers a fresh approach to cloud mining, providing investment opportunities with reduced costs and increased flexibility. As both projects continue to make strides in their respective fields, they are likely to attract even more attention and contribute to the ongoing evolution of the cryptocurrency industry.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.