Posted 12/18/2023, 11:00:00 AM
Injective Cryptocurrency Soars Over 2,700% to All-Time High on Perpetual Futures Frenzy
- Injective (INJ) price hit new all-time high of $34.64 on Dec 15, 2023, a 2,700% increase since start of year
- Price driven by massive surge in perpetual futures trading, exceeding $25.5B in 24 hrs
- Exchanges incentivized to generate volatility and profits through leverage trading
- INJ currently in price discovery according to analysts; $40 and $60 next potential targets
- Support around $20 needs to hold to sustain bull run; fall below could lead to 70% decline