A promising DeFi start-up project from a few years ago, Injective Protocol has recently become interesting again. The long-awaited launch of the Canary chain on the main network of the Injective Protocol went live with spot trading on their decentralized exchange (Dex).
It’s still early days for Injective Protocol as an exchange, but “early days” is an investor’s dream if the project is solid. Should we all buy INJ, their proprietary token? There is good news and bad news.
Table of Contents:
What is the Injective Protocol?
It is a Dex but with some differences. Most Dexes run an Automated Market Maker (AMM) algorithm to generate the market. This maintains a pool of cryptocurrencies in pairs that are rebalanced after each trade. It’s how classic Dexes have automated the market making process. The Injective Protocol has an order book like most Cex (centralized exchanges), but more than that and some other interesting features later.
INJ is the mandatory exchange token of the Injective Protocol. The exchange is still in the early stages of release, so it’s hard to know how it will work when all features are implemented. The maximum exchange of initial versions is $50 and there is currently only one spot market. I like this cautious approach to launching, in principle. Too many times we’ve seen hastily implemented code bring down a project and make people lose money.
Injective Protocol Price Prediction for the Next 3 Months
Is the Injective Protocol (INJ) currently underestimated? That is the fundamental question. Let’s take a look under the hood to check if the component parts are up to the job. Will the Injective Protocol be fit for purpose if it captures significant market share?
The entire cryptocurrency world is on the verge of complete collapse. Bitcoin fell 75% from its all-time high amid broader market declines caused by furious inflation and the US Fed’s rate hikes.
When you add the most recent collapses of huge industry players (FTX, Celsius, Moon etc.) into the equation, the horizon is murky and there will be more blood on the streets of the crypto city.
Investors are selling risky assets and moving to more stable markets. Crypto is still perceived as a very risky game and therefore sell off.
Our algo still sees some green in 2023, especially in the second half of the year. This is reflected in our forecast for 2023.
Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend.
Once Bitcoin settles into the new price range, altcoins will start doing the same – we’ve seen this scenario dozens of times in distant and more recent history.
Our price forecasting model is bearish for the next 90 days with a hint of a bull market straddling quarters from Q1 to Q2. We expect whales and other larger players in the market to finish filling their bags around that time, which will cause a typical and sudden crypto spike.
The fundamentals we evaluate are teams, tokenomics, use case, community, marketing efforts, liquidity and availability of exchange, hype and speculative potential, and some other proprietary factors developed in our crypto lab.
Below is a tabular overview of how INJ will develop in the short term (for the next 90 days), according to our forecast model:
fundamentals
Different types of DeFi platforms require critical details to be strong. A Dex needs liquidity, security, speed, value and popularity. Attention is the key resource that all new projects are fighting for, so marketing will also be important. Gone are the days of “Build it and they’ll come!” The Dex space is getting crowded, so successful market competitors need to identify with unique selling points.
Use cases
The USPs of the Injective Protocol are found in both technology and presentation. His exchange looks different from most Dex. For example, view an order book where you can place limit orders, rather than simply trading at whatever rate is being offered at that time. The interface is typical of a centralized exchange rather than a regular DeFi token exchange site.
Most of the interesting things are yet to come. The first development should be to integrate multiple tokens. You can currently trade eight tokens in 17 pairs against USDC and USDT. The current version has markets in Synthetix, Uniswap, The Graph, SushiSwap, Polygon, Aave, Chainlink, Wrapped ETH and, of course, Injective Protocol.
Next will be to add derivatives trading. Eventually, you’ll be able to build bespoke derivatives based on a range of asset types other than cryptocurrencies: commodities, stocks, etc. You could create tokenized versions of your favorite stocks and build derivatives around them.
The Injective Protocol Injective Protocol might have a lot to offer, but only if these features are required by the public. When was the last time you felt the urge to create a derivative? It has never happened to me again. Perhaps institutional investors might find it useful?
INJ’s tokenomics
| Current price | $6.52 (+2.07 24HRS) |
| Circulating supply | 33,161,777 INJ |
| Total supply | INJ 100,000,000 |
| Inflation rate | 7% falling to 2% |
| Market capitalization | $216,215,520 |
| rank | #156 |
The Injective Protocol blockchain is protected by a Proof of Stake (PoS) consensus mechanism. Critically, there is an Ethereum bridge that reduces the cost of transferring ERC20 tokens to the platform. This is interesting at the moment, but when Ethereum 2.0 is released in the new year, one wonders how competitive it will be. Presumably, Ethereum’s network fees will plummet.
The Injective Protocol charges transaction fees for both manufacturers and buyers on the exchange, to be paid in INJ. This causes demand for the token and keeps the project wheels moving. The truth is that, if people use the exchange a lot, the Injective Protocol and its investors will make money and the price of INJ should rise. Otherwise, it fails.
team
CEO Eric Chen and CTO Albert Chon founded the company in mid-2018. They are both qualified and established professionals with experience working for a number of blue-chip technology and financial companies. The team mainly boasts developers and technicians, which is nice to see. It gives the impression that the attention is in the right place, unlike some of the most publicized nonsense we are seeing at the moment.
Wallet Exchanges and Support
You can buy INJ at Binance and Huobi centralized exchanges. If you prefer to remain fully DeFi, trade it on Uniswap or buy it directly on the Injective Protocol exchange with stable coins, USDC and USDT.
I connected with the recommended Metamask wallet and had no problems. The site also recommends Ledger live.
How to buy INJ
If your intention is to hold INJ as a speculative asset, then buying on a regular exchange is fine. If your goal is to trade on the Injective Protocol exchange, transferring the crypto to the exchange is the way to go.
It’s a familiar process by now, but there are a few things to note. Link your wallet, click on a market, select your amounts, and press approvals on your Metamask wallet. Remember to set the total allowance: this is important. Limit the amount a smart contract can access from your wallet when authorization is given.
After depositing USDC or USDT, select any token pair you wish to trade. Transfer fees should be a couple of dollars at most, and a few cents equivalent in INJ for actual exchange trading.
I couldn’t actually get into the exchange because it seems to have stopped. There is a third party video tutorial here that I found informative. Injective’s Youtube video was so boring that it was almost unwatchable. But frankly, there is nothing to trade at the moment. The liquidity is so low and the spread so high that it’s not worth worrying until it comes to life.
I hope this was part of a staggered release that will soon come into action, otherwise this exchange is deeply worrying and should be avoided at all costs. Imagine that you have funds in the exchange and are unable to sell.
Injective Protocol Price Prediction 2022
Our forecast model predicts a temporary shift to a bear market in early 2022 before moving to another lead in Q3 and Q4 of 2022.
INJ Market Price Prediction
Investor Portfolio
In line with the general cryptocurrency market, Wallet Investor is bullish on INJ. Their AI predicts a 150% increase to around $18 over the next 12 months. The next 4 years will bring a 350% boost to a high of over $62. Seems like a must-buy to me. Almost 10 times in 5 years.
Digital currency price
A bit more modest in their prospects is Digital Coin Price. From a current level of $7 they are asking for a 50% increase by the end of 2021. INJ will reach $20 by 2025 and will continue to exceed $30. This represents an increase of more than 300% by 2028.
Commercial Beasts
Finally, we have a similar overview from Trading Beasts. Aside from a slow downturn in the coming months, that’s all good news for INJ. They are asking for a 50% gain over the next 12 months, with a further increase to $18 by the end of 2024.
Injective Protocol Price Prediction 2025 – 2030 – 2040
Our forecasting model sees INJ reaching new highs in 2025:
$5.00
Injective Protocol Price Prediction 2030 – 2040
Which Injective Protocol will apply in 2030?
Our forecasting model sees the Injective Protocol reach $12.49 in 2030.
Which Injective Protocol will apply in 2040?
Our forecasting model sees the Injective Protocol reach $24.98 in 2040.
Will the Injective Protocol replace/surpass/surpass Bitcoin?
No, the Injective Protocol will not replace or exceed BTC.
Can the Injective Protocol reach $100?
Yes, the Injective Protocol could reach $100 by the end of 2025.
Is it worth buying Injective Protocol?
We are supporters of moderately risky investments: invest most of your cryptocurrency portfolio in BTC (50%); 35% in a basket of large-cap coins and the rest in small projects with huge increases. So, in this context, it is worth buying the Injective Protocol.
Is the Injective Protocol a good investment?
The Injective Protocol is, just like all other cryptocurrencies, a risky investment. It is more likely to go up than down because of the good use case, well-designed tokenomics, active community, and a strong team behind it.
How much will the Injective Protocol be worth?
For the short-term future, it could reach $0.9600. In the long term (8-10 years), it could jump to $12.49 or even higher.
Why will the Injective Protocol succeed and increase in price?
The Injective Protocol has a good use case, well-designed tokenomics, active community, and a strong team behind it. All of these are a prerequisite for success and that’s why our forecasting model sees the Injective Protocol rise to $12.49 in 2030.
Why will the Injective Protocol fail and fall in price?
Cryptographic projects fail for various reasons. Some of the most common are: the team goes rogue and abandons the project, regulators declare it illegal and press exchanges to delist it, lack of media attention, more successful competitors, lack of a well-designed marketing strategy, loss of community support, potential vulnerability in the protocol, failure to achieve the minimum development activity foreseen on the protocol, inability to attract new developers to build on their platform.
How high will the Injective Protocol go?
Our prediction model sees the price of the Injective Protocol explode and reach $24.98 in the distant future.
What is the short-term forecast for the Injective Protocol?
The Injective Protocol will reach $0.9600 over the next 90 days, which is a 41.2% change from the current price which hovers around $1.63.
Can the Injective Protocol make you a millionaire?
Yes, if you buy a large enough sum. Don’t expect to invest $100 and become an Injective Protocol millionaire. But 100x price explosions are a common sight in cryptocurrencies, so a $10k investment in Injective Protocol could make you a millionaire.
Injective Protocol Price Prediction Today – What Will Injective Protocol Be Priced Tomorrow?
The Injective Protocol will hover around $1.74 tomorrow.
When to sell and exit Injective Protocol?
It depends on your trading profile. If you believe in the Injective Protocol and think it has a bright future, holding the coin for at least a couple of years is a good idea. Taking profits on good investments is an even better idea. So, if you’re sitting on earnings of 100-200% or even more on your Injective Protocol, cashing out a portion of the funds is not a bad move.
Can the Injective Protocol explode?
Yes, our algorithm sees the Injective Protocol take off and skyrocket in 2022 with a 13.6% increase over the current price.
What will be the price of the Injective Protocol in 10 years?
The price of the Injective Protocol in 10 years will fluctuate between $ 12.49 and $ 24.98.
Injective Protocol 2023 Price Prediction – How Much Will the Injective Protocol Be Worth in 2023?
The Injective Protocol will reach $2.44 in 2023, which is a 49.64% change from the current price.
Injective Protocol 2024 Price Prediction – How Much Will the Injective Protocol Be Worth in 2024?
The Injective Protocol will reach $3.64 in 2024, which is a 122.84% change from the current price.
Injective Protocol 2026 Price Prediction – How Much Will the Injective Protocol Be Worth in 2026?
The Injective Protocol will reach $6.29 in 2026, which is a 285.32% change from the current price.
Injective Protocol 2027 Price Prediction – How Much Will the Injective Protocol Be Worth in 2027?
The Injective Protocol will reach $7.79 in 2027, which is a 377.12% change from the current price.
Injective Protocol 2028 Price Prediction – How Much Will the Injective Protocol Be Worth in 2028?
The Injective Protocol will reach $9.29 in 2028, which is a 468.92% change from the current price.
Injective Protocol 2029 Price Prediction – How Much Will the Injective Protocol Be Worth in 2029?
The Injective Protocol will reach $10.79 in 2029, which is a 560.72% change from the current price.
Injective Protocol 2050
Price Prediction – How Much Will the Injective Protocol Be Worth in 2050?
The Injective Protocol will reach $37.54 in 2050, which is a 2199.59% change from the current price.
Summing it all
up
The Injective Protocol is in the early stages of release, but what will the future bring? Once we see the full version we will have a better idea. There are so many Dex in space that it’s hard to stand out from the crowd, but Injective Protocol’s similarities with traditional exchanges will be interesting to many.
The key will be liquidity. At the moment there is none. Really, none! Not even a small amount. According to the exchange, there was absolutely no volume and no 24-hour change on any pair. He is completely dead. With the order book model, the spread is directly related to liquidity levels. Thin liquidity means a wider spread, the amount you lose on each trade as you enter and exit. At the moment it doesn’t look good at all.
On the one hand, I think the world could live quite happily without another derivatives platform that prays over inexperienced retail traders. Leverage is super-risky in volatile cryptocurrency spot markets, but people still like to trade perpetual swaps. I also think that leveraged derivative trading that nobody understands is almost suicidal. If you are not a deeply informed investor, I would stay well away from the trading platform if it ever delivers on what it promises.
On the other hand, I might buy some INJ since my ethics don’t extend to refusing to make money on a winning project. I could see INJ increase in value in the short to medium term – if they can revive their dead trade.
At the moment, none of this really exists: it’s all talk.
