The publication of the whitepaper on the utility and value of the INJ token and the arrival of a new validator to the network have boosted the price of Injective by 18% in the last week.
El INJ price has risen by 18,23% over the past 7 days, according to the cryptocurrency's price chart on CoinMarketCap platform.
At the time of writing this article, INJ, the blockchain cryptocurrency designed for Web3 finance, It is quoted at over $28,3 dollars per unit, while the trading volume with this digital asset remains above $145 million. Compared to the data from the previous week, the trading volume with INJ has increased by 98%.
Source: CoinMarketCap
On the other hand, Injective maintains a market capitalization of over $2.640 billion. Currently, It is ranked as the 44th cryptocurrency with the highest capitalization, in the ranking of the 100 largest cryptocurrencies in the world.
Injective is a blockchain designed for the next generation of digital finance. It is an interoperable smart contract platform that is optimized to deliver a wide range of ultra-fast, innovative and sophisticated decentralized applications.
1st INJ Token Whitepaper Released
Recently, the developers of the Injective network shared on X (formerly Twitter) what constitutes the first INJ token ledger. It is a whitepaper that provides in detail everything related to the utility and value of the INJ cryptocurrency, including its role and importance in the development of the next generation of the Internet, Web3.
As explained by the developers, the Valid identity document contains a comprehensive analysis of INJ's symbolic economic design, as well as all the cryptocurrency's utilities within the Injective network and ecosystem, the supply mechanics, the token burning system, among other fundamental specifications.
Although the developers clarified that the presentation of this document does not constitute an offer of sale nor does it constitute financial advice or investment recommendation, the price of the cryptocurrency has reacted positively to its publication, gaining 18,23% in the last 7 days.
Gumi joins as Injective validator
In addition to the publication of the INJ utility whitepaper, the announcement of the addition of a new validator to the Injective blockchain has also had a positive impact on INJ appreciation over the past week.
Through a blog, the developers of Injective announced Gumi, one of the biggest giants in the online mobile gaming industry, has joined the Proof of Stake (PoS) chain as a validator. Although this is not the first time that the Japanese video game company has ventured into the world of Web3, its addition to Injective will significantly contribute to the chain developing its presence in Japan, which will facilitate the exploration of new opportunities and encourage the growth and expansion of this blockchain ecosystem.
Gumi's entry into the Injective ecosystem also reinforces the institutional entry into the world of blockchain and Web3. This has enormous potential for projects like Injective to drive better integration of Web2 and Web3 technologies and ensure the construction of a more efficient and decentralized future.
This year, Injective has achieved important developments, including the inEVM launch, a rollup focused on boosting the development of virtual machines. Also, the builders of this blockchain presented in April a new version of the protocol, v3.0, which includes a series of improvements to evolve the ecosystem, and which offer a response to the changing needs of the community.
This latest version of Injective incorporated changes in INJ supply, with the aim of transforming cryptocurrency into a deflationary asset, with great potential for appreciation over time.
