Injective Protocol: Unleashing the Future of Decentralized Finance with ETP Launches and AI Innovation

Injective is an open interoperable smart contracts layer-one blockchain network optimized for decentralized finance applications. As the only lightning-fast blockchain tailored for building financial applications, it has rapidly established itself in the blockchain space.

Significant Achievements

Injective has achieved remarkable success by processing over 100 million blocks and more than 1.3 billion on-chain transactions. These milestones showcase its growing influence and capabilities within the decentralized finance (DeFi) ecosystem.

Exciting Innovations

In addition to its transaction achievements, Injective introduced the new INJ 3.0 token, which aims to make the $INJ token deflationary, potentially increasing its value. Furthermore, it launched an AI Agent Hub in collaboration with SonicSVM, enabling AI agents to function across different blockchains, including Solana. These innovations reflect Injective’s commitment to advancing blockchain technology in finance and AI.

Milestones in December 2024

December 2024 marked a significant milestone for Injective with the launch of several ETPs linked to its native token, INJ. The AINJ ETP from 21Shares was listed on Euronext, allowing investors to purchase INJ and earn staking rewards, with $128.6 million in assets under management and a 2.5% fee. Another ETP by Valour Funds was launched on Sweden's Spotlight Stock Market, facilitating easier access to INJ for both institutional and retail investors.

Community Engagement Initiatives

During this month, community initiatives like the Helix Points Program were introduced to promote participation within the Injective ecosystem. Overall, December was a pivotal month for Injective, highlighting its progress in bridging decentralized finance with traditional finance.

Technical Analysis of INJUSD

The INJ/USD pair has shown a minor pullback of over 35% following a significant sell-off. It peaked at $26.39 and is currently trading around $26.145, holding above key moving averages on the 4-hour chart.

Key Resistance and Support Levels

The near-term resistance level is identified at $30, and a breach above this could push the price to $35, $42, or even $50. On the downside, immediate support is at $22, with potential targets lower at $19 and $16 if violated.

Market Indicators

The indicators based on the 4-hour chart show a bullish trend, with the CCI (14) and CCI (50) readings indicating bullish momentum, as well as a bullish average directional movement index.

Trading Recommendations

It is recommended to buy on dips around $21, setting a stop-loss at $14 and targeting a price of $50.