It has been an eventful week marked by significant achievements as $INJ experiences a remarkable surge, skyrocketing from $24 to $30 in just a few hours, which represents an impressive 26% gain.

During this period, $INJ has not only demonstrated notable price movements but has also achieved several milestones, contributing to its newfound strength within the market. A standout accomplishment includes the recording of over 350 million on-chain transactions, showcasing the active engagement and utilization of the Injective platform.

The staking aspect of Injective has reached a noteworthy milestone, with over 45 million $INJ tokens being staked, underlining the community’s confidence in the platform. Additionally, the inj name service has surpassed 3000 registrations, further solidifying Injective’s position as a prominent player in the blockchain space.

Recent integrations with industry giants such as Ledger and Google Cloud have enhanced Injective’s accessibility, making core chain data more readily available. Furthermore, the deployment of a new decentralized application (Dapp) on Injective’s platform is exemplified by Gryphon’s Mainnet going live, introducing added capabilities and robustness to the Injective ecosystem.

According to insights from market analytics firm Santiment, Injective’s market cap ranking has surged to an impressive number 36, reflecting a substantial +254% increase since mid-October. The distribution of $INJ tokens reveals that the bridge wallet holds just over 2/3rds of the available supply, while the top 3 wallets collectively account for 85.6% of the total supply, valued at $2.18 billion. Notably, the three largest wallets have accumulated an additional 7.1 million INJ over the past three months.

Injective’s recent achievements and market dynamics underscore its growing prominence, with the platform making strides in both technological advancements and community engagement. As $INJ continues its upward trajectory, the broader crypto community is keenly observing its evolving role in the decentralized finance landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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