Original - Odaily
Author - Asher
Injective: The potential next public chain king
In this round of market rise, the most eye-catching price performance among public chains is Solana. However, there is one public chain with a good price increase. It is rarely mentioned in China, but it is hotly discussed abroad, and that is Injective (INJ). In the European and American communities, investors even believe that the INJ token has the potential to enter the top ten by market capitalization.
Image source:Injective official website
Basic Information
Injective is an interoperable layer-1 blockchain powering the next generation of DeFi applications. It uniquely provides plug-and-play financial infrastructure primitives such as high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm. Moreover, compared with other public chains, the gas of its chain is extremely low, with each gas fee being approximately US$0.00015 (as shown below).
Image source:Injective official recommendation
Injcetive will be launched on the mainnet at the end of 2021 and is considered a young public chain. The picture below shows the several rounds of financing of Injective. What is interesting is that Injective is one of the eight projects incubated in the first phase of Binance Labs. It has received support from many investment institutions, including one of the worlds top cryptocurrency venture capital institutions. Pantera Capital has a good institutional background.
Image source:rootdata
Official Twitter:https://twitter.com/Injective_
Official website:https://injective.com/zh
price performance
By reviewing the price performance of INJ in this round of market, we can see that its price has risen from around US$7.5 in early October to a maximum of over US$43, with a maximum increase of more than 470% in 3 months. The current price has slightly corrected to US$36.6 ( As shown below).
Image source:coingecko
In terms of market capitalization, INJ currently has a market capitalization of approximately $3 billion, ranking 32nd. There is a difference of 200 million from ETC, which is ranked 30th in market capitalization (USD 3.2 billion); it is nearly double the difference from LTC, which is ranked 20th in market capitalization (USD 5.7 billion); and it is about 5 times different from AVAX, which is ranked 10th in market capitalization (USD 15.2 billion).
Image source:coingecko
ecological development
Regarding its ecology, the picture below shows various mainstream applications in the Injective Ecological Alliance updated in August this year. It can be seen that its ecological development includes NFT, oracles, data processing, stable coins, DeFi, public chains, exchanges, verification nodes, tools, wallets, etc. (as shown below).
Injective Ecological Alliance
Friends who often participate in secondary level will feel that in addition to the ecological projects included above, when retail investors FOMO a popular public chain project, the first thing they will think of is the Meme sector, which is also the one with the most exaggerated growth when the market is high. plate.
For Meme coins, everyone knows that the most important thing is not the token economic model, but the popularity and heavy supporters of its community. Below, Odaily will introduce to you two Meme coins that have been very popular recently in the Injective ecosystem.
Kira the Injective Cat （KIRA）
Project Description
Kira the Injective Cat
Regarding KIRA, one person needs to be mentioned, Mirza (Twitter:https://twitter.com/TheMirza_), he is a core contributor to the Injective ecosystem. KIRA is a Meme project created after his own cat name. Within a few days of the project’s launch, it received support from two influential big Vs on INJ tokens (as follows) picture).
Image source:Twitter
At the same time, in a space about sharing the Injective ecosystem, Mirza mentioned that VCs who support the Injective ecosystem are accumulating KIRA.
Image source:Twitter
Official Twitter:https://twitter.com/KiraOnINJ
Official website:https://kira.cat/
Secondary market
Regarding KIRA, the total amount is 69 billion. Its price hit a high of $0.00025 in late November. There has been a correction now, the price is 0.000129 US dollars, and its market value according to the official Telegram is about 8.7 million US dollars.
Image source:coingecko
Regarding the price trend, judging from the K-line, near $0.000082 is a short-term support. Last night saw a more than 20% rally in the hours after dipping again below $0.000082.
KIRA Chart
Secondary market purchase link:https://coinhall.org/injective
NINJA（NINJA）
NINJA
Project Description
NINJA is the first Meme coin in the Injective ecosystem to be spread by everyone. Similar to other meme coins, NINJA is a meme coin without any intrinsic value. The project has no roadmap and no formal team. The project description states: This project is completely useless. In addition to being a dog, it also has a nunchuck.
Because NINJA is the first Meme coin in the ecosystem and has the concept of dog, it has spread wildly in major INJ communities, and its Twitter popularity even exceeds KIRA. Early buyers see over 30 times the profit, and the benefits continue to spread throughout the community.
Official Twitter:https://twitter.com/dogwifnunchucks
Official website:https://www.dogwifnunchucks.com/
Secondary market
Regarding NINJA, the total amount is 1 billion. Its price hit a high of $0.0433 in late November. There has been a correction now, the price is $0.019, and its market capitalization is approximately $17.7 million.
Image source:coingecko
Regarding the price trend, judging from the K-line, near $0.0118 is a short-term support. The trend is very similar to KIRA, which rebounded quickly after falling to around $0.0118 again last night. The price has now rebounded more than 60 points from last nights low.
NINJA Chart
Secondary market purchase link:https://coinhall.org/injective/
Overview
KIRA and NINJA can be regarded as the two most popular Meme coins in the Injective ecosystem. It is not difficult to find that many European and American KOLs are mentioning these two projects on Twitter, and think that they are the dragons and dragons of this ecological Meme section. But compared with Meme coins in other ecosystems, whether it is the market value of the token or the number of people on Twitter and Telegram, there is a lot of room for growth. Therefore, if the ecology explodes, hot money pours in, and the bubble inflates, there is a good chance of a good increase if you ambush in advance.
Finally, Odaily reminds investors that cryptocurrency is highly volatile, so do your research before investing and don’t blindly follow the trend.
