 Hello, and welcome to Make Money Territory. In this video we will be talking about the latest update on Injective Coin. Injective, a rising star in the cryptocurrency market, has made headlines with its remarkable surge. As highlighted by Santiment, an analytic platform since mid-October, Injective has seen its market cap rank soar to 36. This ascent comes after an impressive 254% increase in its value. Injective price saw an all-time high of $32.10, nearly reaching its resistance level of $35. This has kept the market sentiment around Injective very positive with over 82% of its users feeling good about Injective token today, according to CoinGecko. Currently, Injective price is up by 27.6% compared to its price in the last 24 hours, which has resulted in a 35% increase in its trading activity. However, after Injective token recently upped by 84% in the past 7 days, the coin is proving to be among the best crypto investment right now. Injective has been well acknowledged for its protocols potential to solve financial problems, as the price of Injective has seen a whopping 1,395.15% increase all year long, leaving it at $24.55 today. This incredible stats makes it a good crypto to hold onto. The bulls held the price strong above the support level of $23.826, resulting in a price bounce back. The Injective coin price has jumped over 35% within the past 24 hours and recorded a new high, indicating a strong, bullish influence for this token in the market. The technical indicator, MMAKD, displays a jump in the histogram indicating a massive ongoing price action for the coin in the market. Further, the averages show a sharp rise, suggesting the price will continue gaining value in the coming days. If the bulls hold the price above the support level of $27.461, the price will make a run to test its new high of $33 in the coming days. Conversely, if a trend reversal occurs, the bulls will lose momentum and the price will fall to test its lower support level of $23.826 this month. Notably, the bridge wallet of Injective holds over two-thirds of the available dollar INJ tokens. Additionally, the top three wallets collectively possess 85.6% of the supply, valued at a staggering $2.18 billion. The bridge wallet of the cryptocurrency injective currently holds just over two-thirds of the available INJ tokens, showcasing a concentrated but effective ownership structure. This dominance underscores the importance of the platform and the significant value locked within its ecosystem. A notable trend is emerging as the top three wallets within the injective network currently hold a staggering 85.6% of the token's total supply, equating to an impressive $2 billion $180 million. This consolidation points to a strategic and centralized accumulation of INJ, raising questions about its potential impact on the platform's ecosystem and market dynamics. The rapid increase in the market value of the cryptocurrency injective not only solidifies its position among the top-ranked cryptos, but also indicates the growing interest of investors wanting exposure to its ecosystem. The significant rise recorded since mid-October highlights the allure of the platform and the perceived value it brings to the decentralized finance, DeFi space. As the altcoin injective continues to make waves in the crypto market, attention will likely shift to its future dynamics and developments. Investor sentiment, platform improvements and broader market trends will play crucial roles in shaping the trajectory of the cryptocurrency injective. Injective is a blockchain built for finance. It is an open, interoperable Layer 1 blockchain, powering next-generation DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols and more. Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain order book. In addition, all forms of financial markets such as spot, perpetual futures, and options are fully on-chain. The decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains and non-EVM chains such as Solana. Injective also provides a next-generation, highly interoperable smart contract platform based on Cosmozum with advanced inter-chain capabilities. Injective is custom-built with the Cosmos SDK and utilizes tenderment-based proof-of-stake consensus mechanism, providing instant transaction finality with the ability to sustain lightning-fast performance 10 000 plus TPS. The Injective ecosystem includes 100 plus projects and over 150 000 community members globally. Injective is backed by a group of prominent investors such as Binance, Pantera Capital, Jump Crypto, and Mark Cuban. Injective's core exchange module provides state-of-the-art capabilities including an advanced on-chain order book and matching engine for spot, perpetual, futures, and options markets, resistance to minor extractable value, MEV, through frequent batch auction order matching, and zero gas fees for users. Injective natively uses IBC and is highly interoperable with multiple-layer 1S, including, but not limited to, Polygon and Solana, through an upcoming wormhole integration. It is also uniquely built to be interoperable with Ethereum, through its own decentralized ERC-20 token bridge, making Injective the first network within the Cosmos ecosystem to natively support Ethereum assets. Smart contracts are implemented on Injective through Cosmoism, allowing for multi-chain smart contract transactions to occur seamlessly. Injective, however, is the only blockchain that enables automatic smart contract execution. This capability serves as a powerful building block for developers to create novel use cases that would not be possible on any other chain. The use cases intended for INJ include, but are not limited to, Protocol Governance, Value, Capture, Proof of Stake, POS Security, Developer Incentives, and Staking. Further details regarding each of these use cases can be found below. Protocol Governance, the INJ token, governs every single component of Injective, including chain upgrades. Since its mainnet launch, the Injective community has actively contributed to Governance, with all proposals passing through a DO Governance vote. In an environment characterized by rapid changes and evolving investor preferences, Injective's rise underscores the potential of decentralized protocols to attract market participants. The concentration of INJ tokens among a few key wallets adds an intriguing layer to the narrative, sparking discussions about distribution and influence within the Injective ecosystem. Looking at the altcoin INJ price, we see that the cryptocurrency is trading at the level of $27.09. Thanks for watching this video. Please support us by subscribing to the channel.