On April 18, 2023, INJ, the native token of the Cosmos layer 1 blockchain Injective, generated significant investor attention. The cryptocurrency project took an intriguing step forward with a fresh collaboration. In a press release issued today, Injective revealed its intent to merge strategically with Jambo, a Web3 mobile infrastructure provider. This partnership is designed to bring web3 experiences to emerging economies in Africa, Southeast Asia, and Latin America.
After the announcement of Injective’s new partnership, the INJ token experienced a surge in price, increasing market enthusiasm for this collaborative effort. Let’s delve deeper into Injective’s recent merge with Jambo and the benefits it offers to the cryptocurrency world.
Injective’s Merger With Jambo: Report
Through a recent announcement by Injective, we learn that they are teaming up with Jambo to deliver blockchain-based financial services to Africa, Southeast Asia, and Latin America. This collaboration will be achieved through a custom smartphone called JamboPhone. With the onset of this partnership, various Injective apps, such as Ninji Wallet, will become accessible to JamboPhone users, enabling millions to effortlessly join the Injective network.
Jambo is a company specializing in mobile phone infrastructure that focuses on connecting emerging markets to the digital realm using simple and affordable technology. Recently, they introduced their new product, the JamboPhone – an Android 13 smartphone based on Web3 technology – which fits perfectly with their mission. The company has also joined forces with Injective’s decentralized finance project.
At the same time, the price of INJ surged significantly following the announcement of the new partnership, bringing a sense of positivity and hope to the cryptocurrency market.
INJ Price Rallies 15%
Currently, the value of an INJ token has increased by 15.36% over the last 24 hours and is now priced at $28.39. The market capitalization of this token also grew by 15.36%, with a corresponding surge in trading volume of 68.59%. These developments have propelled INJ into a bullish phase.
The open interest for Injective’s token on Coingecko increased by a significant 28.29%, amounting to $114.78 million. Simultaneously, the derivatives volume surged by an impressive 96.52%, reaching a peak of $722.33 million. This data highlights the robust uptrend in Injective’s market, providing further evidence of its bullish outlook.
The announcement of Injective’s new partnership and this development have significantly increased investors’ excitement about their cryptographic project. Cryptocurrency market fans are hopeful that the token’s price will rise due to anticipation surrounding the possible post-halving rally.
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2024-04-18 18:59