Injective (INJ), a Tier-1 decentralized exchange protocol, has been rated as one of the best performing altcoins in the market by a leading cryptocurrency analyst.
The Crypto Dog Evaluates Injective (INJ)
The Crypto Dog, which has more than 700,000 followers on Twitter, said that INJ has the potential to emulate the success of Solana (SOL), another tier-1 platform that has grown in popularity and price over the past bull cycle.
$INJ is one of the stronger performers. An L1 that I think has the chance to be next season's $SOL.
Short term $15 in the coming months would be incredible (close to $1.4b FDV).
I'm sitting in a short term swing long and bought a long term spot bag I'd like to hold into 2025. pic.twitter.com/RBB3Fq2HL4
— The Crypto Dog📈 (@TheCryptoDog) April 14, 2023
In addition, Injective (INJ) recently experienced a new development. Pyth Network, a decentralized oracle providing high-quality market data for smart contracts, will be migrated to the Injective mainnet after a positive management vote.
According to the developers' statement, the move will make Injective the only Inter-Blockchain Communication (IBC)-enabled Layer 1 protocol with Pyth on-chain, allowing users to seamlessly access both crypto and real-world asset data.
Eric Chen, co-founder and CEO of Injective Labs, said in a statement on the subject:
“We are excited to work with Pyth to bring new asset data to the world of Injective. Now developers are creating markets with highly accurate on-chain data, revealing a new model for cross-chain data composability.”
In their statements on Twitter, Injective developers said that the move of Pyth to Injective was accepted with a 98% vote rate.
*Not investment advice.
