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Injective is an open, interpolable layer one blockchain for building powerful DeFi applications. It is built using Cosmos SDK and uses Tendermint proof-of-stake.
Tendermint Proof-of-stake
It achieves instant finality. Tendermint PoS offers a high degree of security, accountability, and speed. Validators are selected based on the INJ token they have staked and their overall reputation.
Main features of Injective
Current TPS- 25000
Block time-< 0.80 seconds
Average fees per transaction-$0.0002
Time to finality -Instant
INJUSD hits an all-time high due to high social media activity and heavy volumes. The strategic partnership with Google and weekly INJ token burn pushed the pair higher. The Injection team announced that over $65000 worth of $INJ was burned. It hit a high of $28.46 yesterday and is currently trading around $24.52. The pair holds above the short-term (21 and 55-day EMA) and long-term moving average (200-day EMA).
The near-term resistance is around $30, any indicative breach above will take the pair to $37/$43/$50.On the lower side, immediate support is $18, and any violation below targets $14/$10.
Indicators (Daily chart)
CCI(50)- Bullish
Directional movement index - Bullish
It is good to buy on dips around $18 with SL around $13 for TP of $37/$43.
