Injective Price in India (INJ)

Injective is a decentralized exchange (DEX) offering cross-chain margin trading, derivatives, and forex futures. It is built on the Cosmos blockchain as a Layer 2 application and uses cross-chain bridges to access assets from Ethereum, Polkadot, and more. INJ, the native token that powers the ecosystem, was launched in 2020. The Injective protocol is powered by a global network of developers, validators, builders, institutions and partners.

Injective was co-founded by Eric Chen and Albert Chon in 2018. 

• INJ token: INJ token is the backbone of the Injective decentralized ecosystem, offering utilities such as facilitating transactions within the network, staking the INJ token to secure the network and earn rewards for stakers, and participating in governance by voting on protocol upgrades.

• Proof-of-Stake consensus mechanism: Injective uses Tendermint-based Proof-of-Stake (PoS) consensus, where validators stake INJ to secure the network. Tendermint is optimized for smart contracts and fast transactions. It is also considered greener compared to its counterpart proof-of-work (PoW). 

• Smart contract compatibility: Injective’s CosmWasm-based smart contract layer enables advanced dApps and cross-chain apps that allow developers to build more decentralized and permissionless applications.

• Interoperability: Injective offers interoperability both within and beyond the Cosmos ecosystem. Injective’s cross-chain bridges connect with EVM and non-EVM chains like Ethereum, Solana, and Klaytn, enabling cross-chain compatibility.

INJ has maintained a decent upward momentum since its launch, with the token price hiking from $0.40 during its initial days to an all-time high of $52.75. As of early October 2024, INJ holds the position of the top #45 crypto by market cap and top #81 by trading volume, showing investors’ interaction with the token. INJ has grown over 160% in the past year, and analysts expect it to reach an average price of $202.18 by 2030, making it a promising cryptocurrency.

Download the CoinSwitch app to invest in INJ.

• INJ can be traded, bought, and sold from crypto exchanges like CoinSwitch. 

• The INJ token is used to secure the Injective network and also earn rewards for stakers.

• Token holders are also given governance rights to vote on protocol upgrades.

• INJ can be used as margin and collateral in derivatives trading markets.

• Injective supports cross-chain transactions within the Cosmos ecosystem and beyond. 

• Injective offers high scalability and fast transaction speeds.

• It allows developers to build decentralized and permissionless dApps.

• Like all cryptos, INJ is subject to price volatility, which may impact its price.

• Injective competition among decentralized platforms includes popular DEXs like Uniswap and PancakeSwap.

• Some of the features offered by Injective like custom derivatives and cross-chain bridging may be complex for some users.

• To trade in INJ on CoinSwitch, download the app.

• You can start with as low as ₹100.

• Trade in over 200+ cryptos in a secure environment.

The Injective (INJ) Initial Coin Offering (ICO) took place in October 2020 through Binance Launchpad. It raised $10 million by selling 9% of the total INJ token supply at $0.40 per token. The funds raised during the ICO helped Injective fund the development of its decentralized exchange platform garnering more investors over the years. Investors like Mark Cuban, Pantera Capital, BlockTower, Hashed Ventures, CMS Holdings, Jump Crypto, and several others have invested in Injective.