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Will Injective Protocol’s Declining Fees Halt The INJ Bullish Run?
The post Will Injective Protocol’s Declining Fees Halt The INJ Bullish Run? appeared on BitcoinEthereumNews.com. Injective protocol is a layer 1 protocol which is built to power next generation financial applications and decentralized exchanges. It has a powerful core financial infrastructure with a fully resistant onchain order book. It also provides a next generation, highly interoperable smart contract platform based on Cosmwasm with the advanced interchain capabilities. It is also highly interoperable with various layer one networks. Recently Injective protocol disclosed that they are steadily increasing the INJ token burn with 12266 token burn on the announcement day. Injective users are set to burn over 6 million tokens in the upcoming week. The burning plays a crucial role as it will limit the supply while increasing the scarcity and potentially driving up the value of the token price. They have also revealed that they will be launching “Injera” by the end of June which will be another milestone for the protocol. Injective Active Addresses on a Continuous Decline Injective is one of the first blockchains which offers auto executing smart contracts empowering faster and more innovative applications. In May, the protocol saw a significant rise with the integration of Injective and Arbitrum marking a major step forward in interoperable EVM infrastructure. It will increase the throughput and efficiency while creating a more versatile platform for developers and users. Source: Active Addresses by Artemis Injective protocol has shown a decline in the overall active addresses. In the last three months, it has declined from the highs of 30k to a low of 15k. The daily transactions of the protocol is near 2.1 Million as per the data by Artemis. Meanwhile, the cumulative trading volume of the platform has increased over the last few months. Source: Defillama Injective protocol is displaying strong growth in the TVL as it reached a high of $72 Million. Meanwhile, the fees…
The post Will Injective Protocol’s Declining Fees Halt The INJ Bullish Run? appeared on BitcoinEthereumNews.com.
Injective protocol is a layer 1 protocol which is built to power next generation financial applications and decentralized exchanges. It has a powerful core financial infrastructure with a fully resistant onchain order book. It also provides a next generation, highly interoperable smart contract platform based on Cosmwasm with the advanced interchain capabilities. It is also highly interoperable with various layer one networks. Recently Injective protocol disclosed that they are steadily increasing the INJ token burn with 12266 token burn on the announcement day. Injective users are set to burn over 6 million tokens in the upcoming week. The burning plays a crucial role as it will limit the supply while increasing the scarcity and potentially driving up the value of the token price. They have also revealed that they will be launching “Injera” by the end of June which will be another milestone for the protocol. Injective Active Addresses on a Continuous Decline Injective is one of the first blockchains which offers auto executing smart contracts empowering faster and more innovative applications. In May, the protocol saw a significant rise with the integration of Injective and Arbitrum marking a major step forward in interoperable EVM infrastructure. It will increase the throughput and efficiency while creating a more versatile platform for developers and users. Source: Active Addresses by Artemis Injective protocol has shown a decline in the overall active addresses. In the last three months, it has declined from the highs of 30k to a low of 15k. The daily transactions of the protocol is near 2.1 Million as per the data by Artemis. Meanwhile, the cumulative trading volume of the platform has increased over the last few months. Source: Defillama Injective protocol is displaying strong growth in the TVL as it reached a high of $72 Million. Meanwhile, the fees…
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