From the lowest INJ price in 2022, this Mark Cuban-backed cryptocurrency is up 1000%. Last week, it led coin gains on crypto exchanges with a 50% rally.
Focused on the DeFi industry, think of Injective Protocol in similar terms as Ethereum, Solana, and Cardano. It’s a Layer 1, open, interoperable blockchain optimized for Web 3.0 finance applications.
The protocol has an average transaction cost of less than a penny, and it can handle thousands of transactions per second (TPS).
With a market cap in excess of $1 billion, Injective is the 44th largest blockchain project in the world by market capitalization. So, what’s the reason for the solid pump over the week?
Injective Price Pumps on Google Analytics CloudHub On October 24, Injective announced its integration with Google Cloud’s data exchange platform, CloudHub. That got the INJ community pumped for the Web3 platform’s future possibilities. Eric Chen, CEO and co-founder of Injective Labs, said:
“This integration is a major step forward for the Injective ecosystem in continuing to expand its footprint into institutions and traditional finance.”