Injective witnessed another surge on Wednesday as money continued to flow into the altcoin and cryptocurrency markets. On December 20, the price of Injective (INJ), the Artificial Intelligence (AI) financial blockchain, achieved a new all-time high at $43, concluding a year of extraordinary gains surpassing 3,000%.
Notably, major investors in the Injective ecosystem started increasing their holdings when INJ surpassed its previous peak of $22, based on on-chain data.
Data from @Intotheblock reveals that all 25,000 addresses holding INJ are currently in profits from their positions in the token. In December alone, INJ experienced a substantial price surge of 140%, reaching the all-time high of $43 after facing resistance at $19 in November.
Injective $INJ hits New All-Time High.
According to data from @Intotheblock, all 25,000 addresses holding $INJ are currently in profits from their positions held in the token. In December alone, $INJ has experienced a significant price jump of 140%, reaching an all-time high of… pic.twitter.com/GQmRHjmONI
— C_THUMBS || ₿ || (@C__thumbs) December 20, 2023
The market capitalization of INJ has seen an exponential rise, surpassing $2.4 billion, driven by both price appreciation and a growing adoption rate. Injective’s blockchain, offering rapid transaction speed and diverse use cases, positions the token for promising potential in the near future.
Although, at the time of writing, INJ has slightly weakened and is currently trading at $40.60, marking a 5% decline in the last 24 hours. Nevertheless, it remains up by approximately 29% in the previous seven days despite this short-term dip.
Injective’s remarkable surge to an all-time high underscores its growing significance in the cryptocurrency landscape, reflecting both investor confidence and the platform’s potential for further advancements.
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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