2024-01-08 10:50:36 by NewsBTC

Injective (INJ), the native token of the decentralized exchange protocol Injective Protocol, stands poised for a pivotal moment. On January 21st, a final tranche of 3.66 million INJ tokens will be unlocked, bringing the total circulating supply to a definitive 100 million. Injective Token Unlock: Market Dynamics Shift This marks the culmination of a phased release schedule outlined in Injective’s token distribution plan, and will see the remaining 16% of token supply flood the market. Analysts remain divided on the potential impact of this event. Some anticipate increased selling pressure due to the sudden influx of tokens, potentially leading to a price dip. Others view the unlock as a positive catalyst for liquidity, making INJ easier to trade and potentially attracting new investors. 🚨 Final Cliff Unlocks Alert 🚨 Mark your calendars for January 21, 2024$INJ will be fully unlocked (100%) Get ready for the massive cliff unlocks. 🪙 3.66 m tokens 💰 132.4 m dollars 🌀 4.35% of cir. supply Allocations: – Advisors: $12.04 m – Team: $120.37 m$INJ was… pic.twitter.com/EYCyv4hsuC — Token Unlocks (@Token_Unlocks) January 7, 2024 INJ market cap currently at $3.19 billion. Chart: TradingView.com Regardless of the short-term price action, the full token unlock undeniably represents a turning point for Injective, marking the complete transition from initial distribution to sustained market dynamics. It will be fascinating to observe how the community and market respond to this milestone event, and whether it paves the way for further growth and adoption of the Injective Protocol. $INJ Bullish Flag Formation..!! Seems lie Ready for Another Bullish Rally.#Crypto #InjectiveNetwork #INJ pic.twitter.com/OcPsNJ7laX — Captain Faibik (@CryptoFaibik) January 6, 2024 Some market participants, such as analyst Captain Faibik, believe that Injective may be ready for another rally in anticipation of the impending event. According to Faibik, INJ has established a bullish flag and might see a rise beyond $60. Faibik examines the chart and finds two rallies that are joined by a brief period of consolidation. These might potentially lead to a continuing upswing with higher highs and lowers. However, given that the market crashed on January 3 and that INJ price originally dropped to $33.55, selling pressure could be imminent. The 4-hour chart shows rising volatility, and the Bollinger Bands point to overbought circumstances following INJ’s prior surge to $40.28. INJ Price Analysis Source: TradingView The price of INJ has been trending downwards over the past 24 hours. It is currently trading at $37.412, down from a high of $37.875 earlier in the day. The Bollinger Bands (BB) are also trending downwards. This suggests that volatility is decreasing, as the price is staying closer to the moving average. The Chaikin Money Flow (CMF) is negative. This indicates that bears are currently in control of the market. The volume is relatively low. This suggests that the recent price decline is not due to a large amount of selling pressure. Overall, the chart suggests that INJ is in a bearish trend. However, the low volume suggests that this trend may not be sustained. It is important to note that this is just a snapshot of the market and that conditions can change quickly. Source: Santiment The ongoing unlocking of the token holds the promise of bolstering INJ’s social metrics, indirectly contributing to a positive influence on its price. This is particularly crucial as increased community engagement often aligns with higher social metrics, reinforcing the token’s popularity. The sustained high Social Dominance of INJ signifies robust community support, a vital factor in navigating the unpredictable cryptocurrency market. Simultaneously, the improvement in INJ’s Weighted Sentiment indicates a prevailing bullish sentiment within the market. This positive outlook among investors sets the stage for heightened trading activity, potentially triggering an uptrend in the token’s valuation. Both Social Dominance and Weighted Sentiment serve as valuable indicators, providing insights into the token’s current state and the prevailing market sentiment. Featured image from Shutterstock Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. 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