Injective Protocol is a fully decentralized exchange protocol that provides the facility of spot, future, and forex trading. The Injective price prediction for the year 2022 and beyond explores the project and the possibility of if and when can INJ reach $10 value.
Injective offers cross-chain margins, perpetual swaps, and derivatives. The main aim behind the network was to give the world a market financial system that is inclusive, decentralized, and free of cost with high transaction speed.
Injective Labs is the research and development company that started contributing to Injective Protocol. Eric Chen, a cryptographic researcher, founded the Injective Protocol in 2018. He is the co-founder and CEO of Injective labs.
Albert Chon, the CTO of Injective Labs, is well known for pioneering a new Ethereum standard and co-founding Injective Labs with Eric Chen. A group of experienced developers and engineers are working behind Injective Labs to create and implement flawless decentralized financial systems and services.
Injective has interoperable smart contracts that suit Ethereum-compatible decentralized finance applications, where users can visit an infinite number of decentralized finance markets. They can even create any such market on this protocol. This instant and secure process take place cross-chain without any gas fee in a decentralized manner.
The Injective ecosystem consists of over a hundred projects with more than 0.2 million community members from different parts of the world. A group of prominent investors such as Binance, Pantera Capital, and Mark Cuban supports Injective protocol, along with a central limit order book.
The unique central limit order book unites the speed of a CEX with the transparency of a DEX in a user-friendly interface on Injective protocol. Injective decentralized order book exchange protocol can facilitate cross-chain trading of crypto, perpetual, futures, synthetics, and exotic assets over different blockchains, including Ethereum, BSC, and Cosmos.
Injective (INJ) Fundamental Analysis
Injective Protocol provides a free and fully decentralized trading experience with the help of cosmos-backed layer 2-sidechain. Along with fast and accurate transactions, it allows anyone to form markets and trade on them. The Injective Protocol blockchain work through a Tendermint-based proof-of-stake (PoS) consensus mechanism.
It is secured and decentralized with the help of prominent validators. The consensus mechanism performs instant transactions finality making a 99% lower carbon footprint. It also facilitates cross-chain derivative trading executing across Cosmos, Ethereum, and all layer-1 protocols. This mechanism also facilitates ten thousand transactions within one or two-second block time.
The ecosystem of Injective protocol has blockchains, relayers, dApps, data, exchanges, validators, wallets, stablecoins, NFTs, oracles, and wallets. The injective chain is an integral part of this Protocol that supports Ethereum consistent DeFi applications. This chain works as a Cosmos SDK module established with EVM on Tendermint called Ethermint. Injective’s incubator Burnt Finance is the first NFT protocol on Solana. This NFT trading platform is fast with low transaction fees.
The token’s compatibility with Ethereum allows the leverage of existing Ethereum tooling to supercharge their DApps to the developers. It allows anyone to operate DeFi applications over parallel chains to hit large-scale users with infinite scalability. The protocol has upgraded itself with the release of new facilities and services from time to time, and the team has been highly successful with the DeFi application lacking any third-party intervention in cross-chain trades.
Injective provides an unproblematic blockchain development facility for fast performance, high throughput, and cross-chain communication. It is driven by its decentralized community and a decentralized autonomous organization (DAO) voting on changes and proposals related to the development of the network.
The trading infrastructure is assisted completely by its central limit order book. The order book also helps in matching all the bids and offers relevant to time and priority. The decentralized order book exchange protocol of the Injective network supports cross-chain crypto trading, perpetual, futures, and exotic assets on Binance Smart Chain, Ethereum, and Cosmos.
How does Injective work?
Injective is a protocol based on token and smart contracts since they perform its main functions, such as protocol interaction and token economics. These smart contracts, along with future protocol, are responsible for creating generalized derivatives platforms. Its major smart contracts include:
- The injective bridge contract facilitates a two-way path between Ethereum and the Injective chain. This peg-zone makes ERC-20 and ETH tokens transferrable to the Injective chain and EVM-compatible execution environment.
- A staking contract for governance, delegation, and providing rewards.
- The Injective future contract allows traders to generate, enter, and implement perpetual swap contracts on all the arbitrary markets.
- The injective coordinator contract to derive transactions on Ethereum and Injective chains.
An INJ chain in the protocol consists of a decentralized side chain relayer network. It serves as a decentralized order book, a layer 2 derivatives platform, and a trade execution coordinator.
Other than INJ chain and smart contracts, its API nodes are also required for some functions of the protocol. These include:
- API nodes are highly suited for an Injective fronted interface.
- The basic use of Injective API nodes is to act as transaction relay service and as a data layer for clients.
- API nodes help direct users in interacting with the protocol using a Websocket API and HTTP.
- API nodes conduct genuine transactions and then pass them to the Injective chain.
- API nodes offer abstractions for governance, staking, and voting.
Injective (INJ) Tokenomics
The native token of Injective Protocol is Injective with the ticker symbol INJ. It is an upgradable ERC-20 token made by Open Zeppelin contracts along with the Ethereum package to provide ultimate security. The asset is used for governance and exchange value capture. It can be staked or mined for liquidity. Every two weeks, 60% of the exchange fee is used for buying back and burning INJ tokens.
This dramatically decreases the supply of INJ with the passage of time and hence increases the demand. The transactions on the Injective Protocol are also taking place to facilitate the burning of more INJ tokens by the new Injective ecosystem.
The native INJ token can be attained by swapping ERC-20 tokens for it on the Peggy bridge. The top five basic uses of the INJ token are as follow.
- It acts as the governance token in the Injective protocol ecosystem, allowing the token holders to vote for governance changes.
- The token is staked as the protocol incentivizes its nodes to take part in consensus with block rewards for Tendermint-based proof of stake security.
- The exchange fee value can be gained in the form of increased token value by a buy-back-and-burn mechanism.
- INJ can be used as collateral backing for derivatives of the Injective market instead of using stablecoins.
- A fixed number of tokens are distributed daily by each network participant on the basis of a liquidity mining scheme for incentivizing participation in the exchange.
Injective Future Plans
The recent upgrades of the Injective protocol are regarding the CosmWasm Smart Contract layer introduced the self-executing smart contracts, binary Options, and interchain accounts. The best-in-class applications built with Injective are built for a better future of finance for the large-scale populations. A mian-net chain upgrade has also added the support for CosmWasm smart contracts, interchain accounts, binary options, negative maker fees, etc.
The Injective Chain upgrade is currently in progress 💪
Devs are hard at work to release the CosmWasm smart contract layer, interchain accounts, binary options, and much more! pic.twitter.com/8DE2wh2Yzk
— Injective 🥷 | Cosmos IBC | Ethereum compatible (@InjectiveLabs) July 5, 2022
The future upgrades for the protocol would be focused on these main aspects.
- The protocol would get optimized for creating mainstream DApps and DeFi by interoperable order book primitives.
- They will struggle for more inclusive financial products with very low fees.
- It will try to enable undisturbed communication across independent blockchains for a comfortable user experience.
- Their consensus mechanism will make it more environmentally friendly with 99% lower carbon footprints.
- It will try to enhance its security for transactions and decrease time using the Tendermint-based proof-of-stake consensus.
- The protocol will be totally customizable by shipping users’ products with the ability to swiftly modify any parameter that suits the user’s situation.
- It will work to provide an intuitively, flexibly, and openly developmental environment with the help of Rust and Golang.
- The protocol should be horizontally and dynamically scalable for transmissions as fast as lightning over parallel chains.
Injective (INJ) Price Analysis
The Injective price on July 8, 2022, can be $1.31 with a trading volume of $9.8 million. The CoinMarketCap ranks it as number 269 and has a market cap of $85 million. It has a maximum supply of 100 million INJ coins and a circulating supply of 65 million INJ coins. It can surge in price, as indicated by its performance in price compared with other cryptocurrencies.
Injective Price Prediction – Crypto Academy
Here is the estimated future price of the Injective (INJ) token from the year 2022 and beyond, on the basis of their future plans for the protocol.
Injective Price Prediction 2022
In 2022, the price of Injective Protocol can reach a maximum level of $9 with the help of the launch of mainstream DApps and DeFi using interoperable order book primitives. The Injective Protocol price can have a minimum price level of $1 with an average price of $5 throughout the year.
Injective Price Prediction 2023
According to our technical analysis of historical price data of INJ, the price of Injective Protocol reached a minimum level of $10 and an average trading price of $15. The INJ price can reach a maximum price of $19 due to the uninterrupted communication it provides across independent blockchains for a convenient user experience.
Injective Price Prediction 2024
As per our forecast for a price through technical analysis, the price of Injective Protocol can be at least $17, with an average trading price of $23. The INJ price can have a maximum level of $28 due to flourished transaction security and decreased time using the Tendermint-based proof-of-stake.
Injective Price Prediction 2025
The price of an Injective Protocol is to reach a price as low as $26 and as high as $37 in 2025. The INJ price can be at an average price of $31 throughout 2025 because of the environmentally friendly consensus with 99% lower carbon footprints.
Injective Price Prediction 2026
We forecast the price of Injective Protocol to reach the lowest level of $34 in 2026. Our findings of the INJ price for hitting a maximum possible level of $50, with an average price of $45. This can be because of the flexible and open developmental environment with the cooperation of Rust and Golang.
Injective Price Prediction – Market Overview
Here are the price predictions of crypto-related websites for Injective protocol from the year 2022 and beyond.
Per the PricePredictions.net analysis the maximum INJ price level would be $12.02 and the average level of $10.83 by the end of 2022. Through their five years estimation plan, they have predicted the Injective token’s price to easily reach $53.72. Their special business analysts and experts have predicted its highest price to hit $392 by 2030.
Tech News Leader
According to Tech News leader Injective price prediction, the Injective Protocol can reach a price level as high as $16.21 in a year and continue to grow to $49.7 in five years. By the end of the next ten years, its price can surpass $351.12 effortlessly. During the period of the next eight to ten years, the value of an INJ can begin from $341.91 and could stop at $393.46.
Coincodex analysts have estimated the INJ price to lie between $ 1.70 and $ 2.94 in the year 2024, with a price rise of about 125.57%. In 2025, the price can be between $2.17 and $6.52, indicating a price rise of nearly 400.39%. By the year 2026, the price can elevate with 1,010% growth. The price can lie from $2.78 to $14.47 by that time.
Digital Coin Price
Digital Coin Pirce predicted the lowest price for Injective to be $1.82, and the highest price can be $7.18 in the future. In a year, the price can grow one time to a price of $2.10. The price of an Injective for three years can be $2.34, and after four years can be about $2.47. The price of an Injective can be $3.41 after five years, $4.57 in six years, and $5.40 in seven years.
According to their prediction system, the future price of the asset can grow 798% from the current price, making its price $11.8 in a year. Your current investment of $100 can be worth $898.013 on the same day in a year.
How to Buy Injective
Injective is among many cryptocurrencies that cannot be purchased using money but can only be exchanged with another cryptocurrency on a decentralized exchange. You can buy Ethereum (ETH) first and then use it to buy Injective. To do so, you need an account on an exchange that supports this trade and a self-custody wallet.
Step 1: Create an Account
They will ask for proof of your location too. You will receive a verification email from [email protected] for registration of your email address. As you will click on the link, you will go back to Coinbase. Now you can complete the 2-step authentication using your smartphone and the phone number associated with it. This will verify your number and add security to your account.
Step 2: Select a Payment Method
Select a payment method to fund your account with fiat money (such as USD). You can use different methods available in Coinbase for your area of residence. Usually, the easiest way with fast speed is using a credit or debit card, but it is expensive. A bank transfer is relatively slow but cheap as well.
Step 3: Set Up a Wallet
The next requirement is getting a self-custody wallet like Coinbase Wallet for getting Injective. Coinbase Wallet. It is available both on the mobile app and browser extension. So open the Coinbase Wallet on the browser or the downloaded app. You will need to choose a unique username that is to be used by other Coinbase wallet users to send your crypto to you.
You will also need it to access your account. You will also get a recovery phrase of 12 random words as a key for access to your crypto. It is to be kept secret, but you must note it somewhere and secure it, also using Coinbase wallet’s cloud backup feature. Coinbase never asks for the recovery phrase, but if you lose it, even Coinbase itself would not be able to help you access your wallet.
Step 4: Buy ETH
Now you have to buy Ethereum (ETH) from your coinbase account. Enter the amount of ETH you want to buy through your fiat money. Also, leave some amount of money aside for fees that can vary on the load on the network, complications of the transaction, and the method you have selected for the transaction.
Step 5: Transfer ETH to Coinbase Wallet
Now you have to transfer ETH to your Coinbase Wallet. Then you have to go to your Coinbase wallet’s settings and tap on the connect button to connect it to Coinbase. Follow the steps as directed to complete this process.
Then transfer your crypto from your Coinbase account to Coinbase Wallet by going to the ‘Buy or Transfer’ option from the settings of Coinbase Wallet on your mobile device. Select the crypto ‘ETH’ and enter the amount you want to transfer to the wallet. Tap continue and follow the steps they ask you to do for transferring your ETH to your wallet.
Step 6: Buy INJ
You are now ready to buy INJ. On the mobile phone, you can buy it from the Coinbase wallet application. Tap on the ‘Trade’ button that will enable you to swap ETH for a token supported by Coinbase and runs on the Ethereum standard (called “ERC-20 tokens”).
Then click on the ‘choose coin’ button to select INJ. Fill in the amount of ETH you wish to exchange for Injective, but do not forget to leave enough amount for transaction fees. Confirm the purchase and finalize the trade by following the simple instructions appearing on the screen.
While using the Coinbase Wallet extension, you have to tap the “Convert” button after opening the website. Find Injective in the search bar and input the amount of ETH you want to exchange for Injective while leaving the amount for transaction fees. Follow the instructions on the screen and confirm the purchase.
Frequently Asked Question (FAQs)
Is Injective a Good Investment?
Yes, the Injective protocol is a good investment due to the free, permissionless, inclusive, and decentralized markets financial system with high transaction speed.
Can INJ Reach $10?
It could have surpassed $10 by 2023 due to the communication facility provided across independent blockchains for a convenient user experience.
Where to Buy Injective?
You can buy INJ from top cryptocurrency exchanges, such as Coinbase, Binance, BingX, DigiFinex, KuCoin, and Phemex.
- Injective Protocol provides a free and fully decentralized trading experience with the help of cosmos-backed layer 2-sidechain.
- Along with fast and accurate transactions, it allows anyone to form markets and trade on them.
- The Injective Protocol blockchain work through a Tendermint-based proof-of-stake (PoS) consensus mechanism.
- It is secured and decentralized with the help of prominent validators.
- The consensus mechanism performs instant transactions finality making a 99% lower carbon footprint.
- It also facilitates cross-chain derivative trading executing across Cosmos, Ethereum, and all layer-1 protocols.
- This mechanism also facilitates ten thousand transactions within one or two-second block time.
- The ecosystem of Injective protocol has blockchains, relayers, dApps, data, exchanges, validators, wallets, stablecoins, NFTs, oracles, and wallets.
- The Injective protocol is a good investment due to the free, permissionless, inclusive, and decentralized markets financial system with high transaction speed.
- In 2022, the price of INJ can reach a maximum level of $9.
- It could have surpassed $10 by 2023 due to the communication facility provided across independent blockchains for a convenient user experience.
- The INJ price can have a maximum level of $28 in 2024.
- The price of INJ can reach the lowest level of $34 in 2026. Our findings of the INJ price for hitting a maximum possible level of $45 in 2026.
- You can buy INJ from top cryptocurrency exchanges, such as Coinbase, Binance, BingX, DigiFinex, KuCoin, and Phemex.