INJ
Injective Protocol ($INJ) is a decentralized finance (DeFi) platform that facilitates the creation and trading of derivatives and borderless DeFi markets, built on its own fast, interoperable blockchain.
The $INJ token is at the heart of the ecosystem and serves multiple utilities: it is used for protocol governance, letting holders vote on key decisions; it acts as a staking token to secure the network and earn rewards; and it is used to pay platform transaction fees. The token can also be used in liquidity mining programs and to participate in protocol upgrades, making it a versatile asset in the Injective ecosystem.
The DeFi sector, valued at over $16 billion, is likely to see more adoption following the upcoming cryptocurrency rally. Injective Protocol is at the forefront of the DeFi space and is poised to benefit from the industry’s growth. The protocol has made significant progress over the past year and has garnered a lot of attention.
Injective’s active wallet addresses increased from 14K to 400K in a year, while total transaction volume on the platform surged from 140M to 460M in the same period. The community expects transaction volume to reach 500M soon.
At the same time, the $INJ token price has risen rapidly. The token is trading at $37.7 from $4 about a year ago, an increase of 800%. Analysts expect the price range of $INJ token to reach $70 to $100 in the coming months.
The DeFi space suffered a major blow during the crypto winter of 2022. The growth of DeFi tokens such as $INJ shows that the industry is gradually recovering. Given the developments over the past year, the entire industry is expected to prosper further in the upcoming bull run.
HIM
Uniswap is an automated market maker launched in 2018. Its goal is to utilize liquidity pools to process trades. In other words, users do not have to use order books to conduct trades. Instead, all trades will be conducted through smart contracts. In addition, Uniswap allows users to exchange ERC-20 tokens without intermediaries.
Uniswap's native token UNI was launched on September 16, 2020, with a total supply of 1 billion and 753,766,667 tokens in circulation. The total value locked in Uniswap is $11 billion. Its market capitalization is $3 billion and its 24-hour trading volume is $507,000.
We believe that UNI is a good investment in the long run. Why? Because it has a good reputation among cryptocurrency enthusiasts. In addition, UNI holders can vote on decisions involving its development. Finally, users can earn UNI by staking
While its current price is $7.6, we believe that by the end of 2024, its price might reach the $21 mark
DOT
The Polkadot ($DOT) project was launched on May 26, 2020. Its purpose is to ensure interoperability and scalability. How? By allowing users to transfer different assets on multiple blockchains. Thanks to its software Substrate framework, developers can also build optimized networks
Polkadot uses a PoS consensus mechanism, which means its users will be able to stake and vote using its native token $DOT. Also, it has a transaction volume of $242 million
Apart from that, the difference between its market cap and diluted market cap isn’t that huge — $9 billion vs. $10 billion. This means that there is little chance that its price will drop in the near future.
That is, the lowest price of $DOT was in August 2020, when one token was worth $4.68. However, in November 2021, the price of $DOT saw a significant increase. Due to its increased activity, it touched the $53.31 mark. Currently its price is $7.9, and by the end of 2024, its price may reach $23.8
SUI
Sui ($SUI) was one of the biggest gainers last year, making it an obvious favorite among investors. But there’s more to the narrative surrounding the protocol.
Sui is a high-performance, decentralized blockchain platform designed to support a wide range of applications, including DeFi, NFTs, and games. With its novel consensus mechanism and unique data model, it is able to process transactions and manage digital assets quickly and efficiently.
The $SUI token is the native cryptocurrency of the Sui network and plays multiple roles in its ecosystem, including transaction fees, staking, and governance. As the backbone of the Sui platform, $SUI promotes secure and scalable operations, incentivizes participation, and ensures the long-term viability and decentralization of the network.
In December 2023, Sui’s transaction speed reportedly peaked at 6,000 transactions per second (TPS). According to data, the funds locked in the protocol grew significantly from $211 million to $593 million in a year. The protocol surpassed heavyweight protocols such as Cardano ($ADA), Aptos ($APT), and Near ($NEAR) in terms of locked capital.
This development boosts the protocol and gives the $SUI token more reason to hit new highs. $SUI is trading at $1.8, up nearly 60% on the monthly timeframe. The token has surged more than 400% in the past three months and currently has a market cap of over $2 billion.
The $SUI token recently reached a new all-time high. Additionally, considering these figures were reached within a few months, the community believes that the token will move higher in the upcoming bull run.
