Injective (INJ) sets a new all-time high amid increased activity

December 13, 2023 07:16 PM AEDT | By Invezz

Injective (INJ) sets a new all-time high amid increased activity — Image source: Invezz

Injective (INJ) is the second-most mentioned token

Social media activity surrounding Injective Protocol has experienced a remarkable uptick, positioning INJ as the second-most mentioned token after Bitcoin.

AlphaScan data from December 12 reveals a surge in mentions, with nearly 30% occurring in the past 24 hours and 37% in the past week. While Solana, Avalanche, and Ethereum lead in weekly and monthly mentions, the short-term spike in INJ’s social buzz aligns with its impressive price performance.

This L1's sentiment is coming back🤯

In the past few days, it became a little bit more silent around $INJ @Injective_. Solana, Kaspa, and other L1s dominated the convo.

However, it seems that the sentiment for $INJ is coming back👇$INJ is the 2nd most mentioned token in the… pic.twitter.com/SBCPYOvlq1
— AlphaScan (🎯,🚀) (@alphascan_xyz) December 11, 2023

The growing interest in Injective Protocol

Besides the increased social activity around the INJ token, the token’s trading volume has also expanded exponentially.

There has also been a growing interest in Injective Protocol, which can be attributed to its unique features, such as near-gasless transactions and a recent strategic partnership with Google Cloud. Injective is the fastest layer 1 blockchain for finance allowing anyone to launch and use the best Web3 dApps across DeFi, NFT Fi, and RWAs.

Injective Protocol is also conducting a unique burn auction where every week, 60% of fees collected across dApps built on Injective undergo a decentralized buyback and burn auction entirely led by the community.

Notably, the increased interest in Injective comes as Injective Protocol prepares for its “Volan Upgrade,” which is taunted as the largest mainnet upgrade in Injective history.

Going by the above factors, the price of Injective coin could jump towards $30, especially if the anticipated upgrade goes on flawlessly.

The post Injective (INJ) sets a new all-time high amid increased activity appeared first on Invezz

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