Welcome back to the Injective Overview. We’re creating the best place for the Injective community to get the latest updates, metrics, insights and ecosystem developments and more – all in one place.
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Injective By The Numbers
$INJ price: $3.47 (+11.9%)
Token market cap: $347.8M (+12.1%)
Total $INJ staked: 54.6M (-1.3%)
Staking APR: 6.58% (+2.3%)
Injective daily trading volume: $12.2M (-39.6%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Injecting The Biggest Developments
🥷 What’s happening: Injective has implemented network upgrade IIP-619.
🥷 Why it matters: The upgrade is designed to make it easier for Ethereum-style apps to tap Injective’s shared liquidity layer. This would improve real-time price feeds by using Chainlink, as well as adding live data streaming and Ledger hardware wallet support.
The upgrade is aimed at letting apps access liquidity more smoothly, which would result in more accurate, timely pricing data.
In addition, the update brings ledger multi-sig support, making it safer for users and organizations to manage funds.
🥷 The bigger picture: While IIP-619 doesn’t introduce new products, it makes Injective more capable of handling functions needed for onchain trading and payments.
Such improvements bolster the technical foundation for:
Trading and derivatives apps: Apps can access shared liquidity more directly, which would result in shorter delays when placing or settling trades;
Data-driven tools: More reliable price feeds allow analytics platforms and trading bots to receive faster, more accurate information;
Fund and treasury management: Ledger multisig support allows organizations to manage assets with multiple approvals, improving security for multi-user wallets; and
Better cross-chain operations: Stability improvements make it less likely that transfers between blockchains fail or get stuck.
Expanding The Financial Ecosystem
Updates on the latest network of dApps, validators, builders and more helping Injective expand its financial use cases.
The next Injective Summit will be held on July 16 in Washington D.C.
Injective removed 55K INJ tokens, worth approximately $170K, from supply in its February Community BuyBack
While this month’s buyback represented a 14% decrease in terms of dollar value compared to January’s ($198.5K), it was the network’s largest single token burn to date
Pineapple Financial acquired 560,647 INJ, increasing its total holdings to 7.02M INJ
Injective implemented dynamic block times via its IIP-620 proposal
Explore Injective’s institutional overview here
From The Injective Ninjas 🥷
Highlighting the builders, communities and ecosystem players within the Injective blockchain.
Check out the winners and honorable mentions of Injective’s community-hosted article competition
Merlin launched the testnet version of its prediction markets app
Andrew Kang, Korea lead at Injective, spoke at the World Crypto Forum conference about RWAs and where they fit into Injective’s ecosystem
Dive Deeper Into Injective
Want to get involved in the ecosystem?
Check out the Cointelegraph Accelerator, a 12-week program offering grant funding and mentorship to ecosystem founders
Paradyze is hosting a $50K trading competition
Explore Injective’s institutional overview here
Until next time!
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.