INJ Price Gains Traction as Bitcoin Drops
While Bitcoin is experiencing a price decline, the price of Injective (INJ) is gaining traction, making it one of the biggest crypto gainers on Uniswap. BTC’s drop came as investors took profits after it surpassed $40,000 last week. The pullback was expected due to overheating and cautious traders. On-chain data from CryptoQuant showed that mining company Mara Pool distributed some of its Bitcoin holdings after the latest peak, indicating a cautious move to optimize returns while mitigating risks. Data from IntoTheBlock revealed that over half of Bitcoin holders were in profit between $35,796 and $48,470, suggesting potential selling around current levels. Despite this, experts remain confident in Bitcoin’s long-term prospects.
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