Missed Bitcoin? $INJ Might Be Your Second Chance

Here are two reasons why reading this article will level you up:

1. Learn to protect your portfolio and make informed decisions.

2. If you trade or invest DeFi, on any level, Injective may offer a whole new world of opportunities.

   

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Why Everyone is Talking About Injective 🚨

This token showed up on my radar after pumping over 500% in a week.

Like many of us, I’ve been burnt too many times from buying the top, I decided to put the wallet away and deep dive to see what the hype was all about.

And I was glad that I did, because immediately after, the wallet came back out.

A DeFi focused Layer 1

Injective is a layer one blockchain like Bitcoin, Solana and Ethereum that’s building the infrastructure for DeFi apps to function completely on chain.

Great, another DeFi blockchain, so whats the big deal?

A couple of things. Here is what makes Injective stand out:

They are HIGHLY INTEROPERABLE!

You can easily trade tokens from multiple chains, all from the same platform. You can even use your ETH or SOL wallet on the main Injective Hub.

Their bridging capabilities are also lightning fast and dirt cheap. I couldn’t believe how efficient it was to get this process started.

They’re able to make this happen by leveraging the Cosmos SDK, which makes it much easier for dev’s to create blockchains from scratch that, by design, work seamlessly with other chains.

Their interfaces run seamlessly and has a CEX feel to it, but with the one major difference… you always have custody over your assets!

What really sets Injective apart from other DeFi focused chains, is it makes liquidity MUCH easier to access.

Their orderbook, Helix, allows other Injective dapps to tap into the liquidity which keeps it from being so spread out like in other platfoms.

Why is this so awesome? Because typically, more volume = more opportunity.

Besides the usual trading opportunities like:

• Spot trading and derivatives

Injective dapps and Helix also have

• yield farming opportunities

• grid trading bots (which is like yield farming on rocket fuel)

• lending/borrowing

• liquid staking (which is amazing for legends with small portfolios)

Also, if you are using the Helix app itself, there are NO TRADING FEES.

Injective is backed by Binance, Jump, Pantera and Mark Cuban who are solid and have deep pockets.

3 mega bullish features of the $INJ token itself (the native token of Injective) are:

• It has a governance function. (increase demand = increase value)

• It's needed to pay for transaction fees and as collateral for derivatives trading. (increase demand = increase value)

• But the coolest thing is it also has a burn mechanic where 60% of all fees collected from dapps are burned a weekly (reduce supply = increase value)

Let's dive deep.

Step 1: Market Cap and Tokenomics

Stats: They have a market cap currently of 3.1 billion and a fully diluted valuation (FDV) of 3.6 billion.

Total circulating supply is 84 million with a total supply of 100 million and will get into the unlock plan for the rest in a minute.

Interpretation: There's only a gap of about 200 million between its current market cap and FDV which is insane, and means most of the $INJ are unlocked so lower risk of huge dumps by stakeholders.

Looking at the market cap, I can't see $INJ doing any more than 10x in the short term, because with a 3.1 billion dollar mark cap 10x would be where Solana is right now which is at 30 billion.

Step 2: Unlock Schedule

Looking at the unlocks, 96% of the supply is already unlocked with only 3.67 million tokens remaining locked.

On January 20th the remaining supply will be unlocked and these tokens are allocated to the team and advisors with the majority belonging to the team of 3.33 million tokens versus the advisors of 333,000 tokens.

For the rest of the tokens, a large majority of the tokens are allocated for community growth and ecosystem development which tells me that the team has high conviction on developing this chain.

Step 3: DeFi Metrics

Total Value Locked (TVL): Since the massive spike in volume late 2023, the TVL has been steadily rising which shows growing interest and usage of the chain.

At the time of writing this article, Injective is ranked 60 in terms of TVL, which is on the low side, but their growth in the last 24 hours, week and month is all green.

Volume: Their 24 hour trading volume puts them in the top 25 performing cryptocurrencies in this space with almost $300 million in the last 24 hours. Bullish.

Step 4: Security

They have been audited by Informal Systems, who primarily audits Cosmos based smart contracts, and their audit report is here.

Step 5: Dapps

The number is low, at 9, but new partnerships and apps are arriving quickly. Already since beginning my research, 2 new dapps have arrive on this list, and I’ve seen 2 new partnership announcements as well. The momentum seems to be holding.

I’ve experimented with 3 of these dapps and they are all smooth, easy to use, cheap and clean. A+ to them all.

Step 6: Community

In a nutshell, their communities are incredible. Their team is active and easy to connect with, activity is constant and the vibe is positive, and they have one of the smoothest and most efficiently run discord server I’ve ever experienced.

People are excited and they are working WITH the team to grow Injective in a way that suits everyones needs, from what I can tell.

Conclusion

To wrap it all up, Injective is early, and because of this, it is risky. BUT, I found no massive red flags and many bullish indicators in my analysis.

With the risk of being early also comes opportunity, and many of the platforms are running airdrop campaigns.

Check out my article here where I give you step by step guides to farm the Black Panther $BLACK Airdrop, and also future $INJ drops.

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