{"id":405364,"date":"2022-02-14T00:30:00","date_gmt":"2022-02-13T21:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/injective-protocol-inj-rallies-100-after-launching-cross-chain-support-for-cosmos\/"},"modified":"2022-02-14T00:30:00","modified_gmt":"2022-02-13T21:30:00","slug":"injective-protocol-inj-rallies-100-after-launching-cross-chain-support-for-cosmos","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/injective-protocol-inj-rallies-100-after-launching-cross-chain-support-for-cosmos\/","title":{"rendered":"# Injective Protocol (INJ) rallies 100%+ after launching cross-chain support for Cosmos"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af58a5f8b2f4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af58a5f8b2f4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/injective-protocol-inj-rallies-100-after-launching-cross-chain-support-for-cosmos\/#Injective_Bridge_v2\" >Injective Bridge v2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/injective-protocol-inj-rallies-100-after-launching-cross-chain-support-for-cosmos\/#Injective_Protocol_adds_support_for_new_assets\" >Injective Protocol adds support for new assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/injective-protocol-inj-rallies-100-after-launching-cross-chain-support-for-cosmos\/#TVL_soars\" >TVL soars<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Injective Protocol (INJ) rallies 100%+ after launching cross-chain support for Cosmos <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Trading perpetual futures contracts in decentralized <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s is a crypto sub-sector ripe for growth, especially as discussions of regulation, taxation and mandatory KYC at centralized exchanges continue to take place.<\/p>\n<p>One DEX platform that has begun to gain traction is Injective (INJ), an interoperable layer-one protocol designed to facilitate the creation of cross-chain Web3 decentralized finance (DeFi) applications. <\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that after hitting a low of $3.91 on Feb. 3, the price of INJ has rallied 157.8% to a daily high of $10.08 on Feb. 11 amidst a 1,756% spike in its 24-hour trading volume to $306 million. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/faf49c3e-cfcb-4915-b616-ecec8fd5b232.png\"><figcaption style=\"text-align: center;\"><em>INJ\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Three reasons for the spike in demand for INJ include the addition of support for new assets in spot and perpetual markets, the release of Injective Bridge v2 and a climbing total value locked on the protocol as a result of staking and the addition of new assets. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Injective_Bridge_v2\"><\/span>Injective Bridge v2<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The most recent development that helped kick off the price growth for INJ was the release of the Injective Bridge v2 at the end of January, which included a variety of upgrades designed to help facilitate cross-chain compatibility with Cosmos (ATOM) and Ethereum (ETH). <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The new Injective Bridge is here!<\/p>\n<p>Injective Bridge V2 brings a vastly superior user experience for all <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ethereum?ref_src=twsrc%5Etfw\">@ethereum<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cosmos?ref_src=twsrc%5Etfw\">@cosmos<\/a> users.<\/p>\n<p>The bridge will serve as a core launchpad for new cross-chain Web3 projects looking to deploy on Injective <\/p>\n<p> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/tzN9czynjS\">https:\/\/t.co\/tzN9czynjS<\/a><\/p>\n<p>\u2014 Injective  (@InjectiveLabs) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/InjectiveLabs\/status\/1487152476398698500?ref_src=twsrc%5Etfw\">January 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Injective, the new bridge is capable of supporting any ERC-20 token and multiple Cosmos-based tokens including ATOM, Osmosis (OSMO) and Terra (LUNA). <\/p>\n<p>Over time, Injective looks to have the bridge become a launchpad of sorts for new Web3 projects that want to allow users to transfer assets from the Ethereum network for zero fees. <\/p>\n<p>There are also zero bridge fees when transferring funds into the Inter-blockchain communication protocol (IBC)-enabled chains. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Injective_Protocol_adds_support_for_new_assets\"><\/span>Injective Protocol adds support for new assets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A second development helping to bring fresh momentum to Injective has been the addition of new assets to the DEX, including the first-ever decentralized perpetual futures for ATOM. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/2e84241c-f69d-4cc5-903f-1a5e5f2c6b41.png\"><\/figure>\n<p>Along with a perpetual futures contract for ATOM, Injective also added spot trading for the Cosmos-based project Chihuahua (HUAHUA) and there is also an active community vote to add Juno. <\/p>\n<p>The addition of new assets helped lead to an increase in trading volume on the protocol over the past few days after hitting its lowest level in several months on Feb. 2. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/6fcdf2e1-0514-4bf1-9638-8c37f1c4e85c.png\"><figcaption style=\"text-align: center;\"><em>Inject DEX daily trading volume. Source: Injective<\/em><\/figcaption><\/figure>\n<p>While it has excited the Injective community to see an uptick in trading volume on the protocol, it&#8217;s worth noting that the current volume is but a small fraction of the volume seen on the top perpetual futures protocol dYdX, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/metabase.dydx.exchange\/public\/dashboard\/5fa0ea31-27f7-4cd2-8bb0-bc24473ccaa3\">saw<\/a> a daily volume of $3.2 billion on Feb. 10 and $2.8 billion on Feb. 11. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Is the rise of derivatives trading a risk to retail crypto investors?<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"TVL_soars\"><\/span>TVL soars<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The release of Injective Bridge v2 was also followed by a surge in the total value locked on the platform, and data from DeFi Llama shows the metric hitting a new all-time high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/2106b5fe-0bf7-4a1d-9f01-cd183c9f3385.png\"><figcaption style=\"text-align: center;\"><em>Total value locked on Injective. Source: Defi Llama<\/em><\/figcaption><\/figure>\n<p>As of Feb. 11, the total value looked on Injective is $147.35 million, an increase of more than $100 million from its low of $43.96 million on Jan. 23. <\/p>\n<p>The TVL on INJ consists of assets that are deposited for trading purposes as well as INJ tokens that are staked on the network earning an APR of 9.15%. <\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro\u00a0also began to detect a bullish outlook for INJ on Feb. 6 prior to the recent price rise. <\/p>\n<p>The VORTECS\u2122 Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-02\/50b6a11f-7b22-4bad-9438-f0e1710d5cb2.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. INJ price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for INJ spiked into the green zone and hit a high of 75 on Feb. 6, around 39 hours before the price began to increase 117% over the next three days.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/injective-protocol-inj-rallies-100-after-launching-cross-chain-support-for-cosmos\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Injective Protocol (INJ) rallies 100%+ after launching cross-chain support for Cosmos &#8221; Trading perpetual futures contracts in decentralized apps is a crypto sub-sector ripe for growth, especially as discussions of regulation, taxation and mandatory KYC at centralized exchanges continue to take place. One DEX platform that has begun to gain traction is Injective (INJ),&#8230;<\/p>\n","protected":false},"author":1,"featured_media":405365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvYTk5ODBlNzgtZjU2Ni00OTg0LWFiYjgtMmM4ZTQxOWM5ZmU4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74972,74863,74877,74868,75916,74891,75846,105688,20093,73785],"class_list":["post-405364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-bitcoin-futures","tag-cryptocurrencies","tag-decentralized-exchange","tag-defi","tag-dex","tag-ethereum","tag-futures","tag-markets-pro","tag-cosmos","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/405364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=405364"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/405364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/405365"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=405364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=405364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=405364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}