On December 14th, Injective Protocol, a first layer-2 decentralized exchange protocol announced its partnership with Binance Smart Chain.
According to the official blog post, the main aim of the collaboration is to accelerate derivatives adoption on the BSC ecosystem.
The platform plans to launch new derivative products on BSC. Initially, it will build a bridge to BSC that would enable cross-chain trading to be much more seamless on Injective. As a result, Users will be able to transfer tokens between the Injective Chain and BSC with ease.
It also aims to enable limitless possibilities for various derivative products to be brought over to BSC. Additionally, it allows for new DeFi protocols built on top of BSC to have accessible interoperability with the Injective Chain.
Injective Protocol Price Rallies 19% – Will INJ price Hit $5?
At press time, Injective Protocol price is trading at $2.67 USD with a 24-hour trading volume of $20,726,089 USD. INJ price is up 26.06% in the last 24 hours. The current CoinMarketCap ranking is #177, with a market cap of $39,649,565 USD.
According to active Injective Protocol enthusiast, $INJ is still very much undervalued; he believes that the token price is all set to hit $5.
active trader, with twitter handle @AltcoinSherpa shared a chart indicating Bullish market structure.
Another crypto analyst seems to have a bullish view on INJ. According to him INJ price will likely hit around 2.8$-3$.