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Will Upbit's influence on MEW repeat itself as far as Injective's INJ is concerned?

Injective (INJ) briefly surged to a 16-day high of $23.09 on Thursday, following its listing on South Korea's leading crypto exchange, Upbit. Since then, the price has corrected by 7% and is now trading at $21.28.

The Injective crypto has constantly been the talk of the town owing to its scheduled listing on Bitfinex. The Injective project is one of the most successful projects of the Cosmos Network and remains on the radar of investors and traders alike.

Injective price has soared more than 10% today, crossing the brief $23 mark, echoing the positive sentiment hovering in the broader market. The rally comes as the INJ crypto secures a major listing on a leading Korean exchange, indicating the exchange's confidence in the crypto.

Paxos has launched the yield-bearing stablecoin wrapped Lift Dollar (wUSDL) on Injective, according to an announcement on October 16. Lift Dollar is a new yield-bearing stablecoin pegged 1:1 to the US dollar. The United Arab Emirates-regulated Paxos International, an affiliate of Paxos, launched Lift Dollar (USDL) in June this year.

As we are about to step in 2025, uncertainty seems to be a recurring theme, whether in financial markets, personal investments, or even securing digital assets. People are constantly seeking stability and reliability amidst these challenges.

Paxos introduces Wrapped Lift Dollar (wUSDL) on the Injective (INJ)Network, offering users a stablecoin that earns yield from treasury bills, enhancing DeFi interactions.

Bitcoin (BTC) registered a weekend bounce after briefly dropping below $60,000. The world's largest cryptocurrency has been up by almost 3% over the past 24 hours and is currently trading around the $64,500 mark, with buyers eying the $65,000 price level.

Injective Protocol, a DeFi-centric platform using Cosmos tech, is gaining traction, looking at the gas fee revenue distributed to its validators in Q3 2024. While INJ, the native currency of the protocol, is under pressure, cooling off after rallying to as high as $52 early this year, the recent development is a huge confidence boost.

AI coins have witnessed significant price gains alongside the Nvidia stock, which hit a six-week high with recent bullish developments for the company. These coins have a positive price correlation with the NVDA stock and could continue to rally with the tech company expected to make some bullish announcements at its summit which began today.

Bitcoin (BTC) had a reasonably positive weekend, pushing back above $63,000 after dropping to a low of $60,031 on Thursday. The world's largest cryptocurrency is up by almost 3% over the past 24 hours, reaching a high of $63,916 earlier today before sellers pushed the price back below $63,500.

INJ showed resilience throughout the September rally, but a hidden risk still lingers, threatening to undermine its recovery potential.

As the market buckles under the weight of the bearish sentiment, the altcoin market is continually being pulled further down forcing losses to altcoin holders. Injective is one of those altcoins facing massive losses with the token's price slashed by 20% since last week, representing a strong bearish sentiment in INJ's market.

Key Points:

TL;DR Injective 3.0 Launch: The upgrade introduces an aggressive token burn mechanism to transform INJ into a highly deflationary asset, potentially driving up its value. Market Dynamics Shift: The reduction in INJ supply is expected to enhance scarcity, making the token more attractive to investors and possibly leading to significant price appreciation.

One of the biggest goals is to cut down the supply of INJ tokens. It could make it one of the most deflationary assets in all of crypto.

With BTC's price holding its value above the $64k level, the market has experienced increased bullish action. Moreover, the memecoin and AI categories have recorded the highest gains within a short period.

Injective, a Mark Cuban-backed layer-1 network, bounced back, rising to its highest level in over two months as whale activity increased. Injective (INJ) token jumped to $24.87 on Tuesday, Oct.

Following the lead of Bitcoin (BTC), the altcoins are starting to break out and recover their lost gains of the last six months. $SUI, $INJ, and $FTM are among the altcoins currently making the fastest progress to the upside.

Bitcoin (BTC) sank further, dropping below $64,000 following a drop of 1.22% over the past 24 hours. The drop comes despite positive sentiments around the world's largest cryptocurrency and an increase in spot Bitcoin ETF inflows.

At Token2049, Injective (INJ)impressed with keynotes, panels, and engaging activities, showcasing its influence in the web3 space.

Recent reports from blockchain analytics firm Lookonchain revealed that the whale liquidated 150,428 INJ tokens, valued at approximately $3.29 million. The transaction involved swapping these tokens for an impressive 2.44 million LDO tokens, worth around $3.05 million at the time of the exchange.

Injective has experienced a sustained uptrend over the past month. INJ has surged by 10.99% over the past 24 hours.

Injective (INJ) price has recently experienced a significant bullish breakout. The INJ price is currently following an upward trend.