Injective Bridge Gets Supercharged with Ionic Upgrade, Injects Bullish Sentiment into INJ
Injective (INJ), the layer-1 blockchain protocol, has taken a significant leap towards enhanced interoperability with the launch of its
Injective (INJ), the layer-1 blockchain protocol, has taken a significant leap towards enhanced interoperability with the launch of its Ionic Upgrade. This upgrade empowers the Injective Bridge, allowing users to seamlessly transfer assets between various blockchains like Ethereum (ETH), Solana (SOL), and Cosmos (ATOM) with minimal to no fees.
Ionic Upgrade: A Boon for Users and Developers
The Ionic Upgrade marks a turning point for Injective, establishing it as a leader in blockchain interoperability. Users can now effortlessly navigate different blockchain ecosystems, bridging core assets with greater flexibility than ever before. This user-friendly experience is coupled with the advantage of minimal fees, making Injective an attractive platform for both casual users and seasoned developers.
Building a Robust Ecosystem: InEVM and Volan Paved the Way
Injective has consistently demonstrated its commitment to building a robust ecosystem. Earlier in March, the protocol launched its successful inEVM Layer 2 rollup solution, enabling developers to build fast and affordable Decentralized Applications (DApps) on Injective. This “first of its kind” Ethereum Virtual Machine rollup boasts true composability across Cosmos and Solana, further solidifying Injective’s position as a champion of interoperability.
The Volan mainnet upgrade, launched before inEVM, focused on integrating Real-World Assets (RWAs) onto the blockchain. Additionally, Volan expanded the Inter-Blockchain Communication (IBC) protocol within Injective, fostering seamless interaction with other chains in the Cosmos ecosystem.
INJ Price Responds Positively, Technical Analysis Hints at Further Growth
The launch of the Ionic Upgrade has been met with positive sentiment, with the INJ token price experiencing a 3% surge to $39.03 at the time of the announcement. Notably, Injective has maintained this momentum, currently trading at $40.17, a significant increase from $35.02 just 72 hours ago.
This recent price surge is attributed to a combination of factors. Firstly, investors, previously cautious due to a 32% correction observed since mid-March, are regaining optimism due to the bullish technical indicators surrounding INJ. Secondly, a rise in network activity, driven by “at-the-money” investors who are looking to capitalize on future price increases, is further contributing to the upward trend.
Technical analysis suggests a potential breakout for INJ. The token is currently testing a resistance level of $41. A successful breach of this level could propel INJ towards its all-time high of $51.85. However, failing to overcome this hurdle could lead to a retracement towards $35.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals