BlockBeats reported on January 22, 2024, that INJ (Injective) token unlock has been completed, achieving full circulation status. As of the report, INJ was trading at $34.81, ranking 29th in the cryptocurrency market capitalization list.
Previously, on January 21, Injective unlocked 3.67 million INJ tokens, representing 4.33% of the circulating supply.
Key Takeaways
- INJ achieves full circulation after latest unlock.
- Price impact: Trading at $34.81 post-unlock.
- Market rank: Currently #29 by market cap.
Understanding INJ Tokenomics
INJ is the native token of Injective Protocol, a decentralized exchange (DEX) optimized for cross-chain derivatives trading.
Why Token Unlocks Matter
- Supply dynamics: Unlocks increase circulating supply, potentially affecting price.
- Investor confidence: Full circulation signals maturity and reduced sell pressure from vesting schedules.
FAQs
1. What does "full circulation" mean for INJ?
Full circulation indicates all minted INJ tokens are now tradeable, with no remaining locked allocations.
2. How might this impact INJ’s price?
Historically, token unlocks can lead to short-term volatility, but long-term value depends on adoption and utility.
3. Where can I trade INJ?
Market Context
- INJ’s use case: Powers Injective’s DeFi ecosystem, including staking and governance.
- Competitive edge: Focus on zero-gas-fee trading and cross-chain interoperability.
For real-time updates:
👉 Track INJ’s price action
Disclaimer: This content is for informational purposes only. Conduct your own research before investing.
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