Injective to Stake 50 Million INJ Coins
Injective, a finance-focused blockchain project, plans to stake an additional 50 million of its native Injective (INJ) coins. This comes as the number of staked coins has already reached about 47 million in the past month.
Injective’s Upgrades for Tokenization
Injective has seen a steady increase in the number of delegates on its network and offers a 15.96% staking yield. The project’s recent upgrades, along with efforts to add more staked coins and delegates, indicate a promising future for Injective in 2024. These upgrades may lead to increased usage of the network.
Total Value Locked on Injective’s Marketplace
The total value locked (TVL) on Injective’s decentralized finance marketplace has surged by 42% to $49 million in the last 24 hours. Dojoswap, a decentralized exchange on the network, alone saw an influx of $27 million.
Tokenization Needs Laws to Succeed
Injective was built for advanced decentralized finance services and emphasizes cross-chain interoperability. However, tokenization’s success depends on regulatory questions and the synchronization of all counterparties involved. The asset tokenization segment targeted by Injective’s upgrade is expected to grow rapidly in 2024.
INJ Price Predictions
The price of INJ has been trading within an ascending triangle pattern, which is considered bullish. A breakout could potentially lead to a 65% increase from the current price. However, closing below the support trend line would invalidate this outlook and could result in a 25% drop to the nearest support level.
Hot Take: Injective’s Staking and TVL Growth
Injective’s plans to stake more INJ coins and the significant growth in total value locked on its marketplace indicate a positive trajectory for the project. With its emphasis on tokenization and cross-chain interoperability, Injective is well-positioned to capitalize on the growing demand for decentralized finance services.
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