Highlights:
- Price up 10%+
- Could hit ATH if it breaks $24
Injective Price Spikes on Upbit Listing
Injective (INJ) is up 10%+ today and hit $23. Upbit, a major South Korean exchange, just listed INJ. Big vote of confidence given Upbit’s strict listing requirements. Now people are wondering if INJ will hit new highs.
Why Injective’s Price is Going Up
While the market is generally up, the main reason for INJ’s move today is the Upbit listing. Upbit will list INJ in KRW and USDT and trading will start at 18:15 on October 17, 2024. With added liquidity from this listing, more traders will come into the Injective market.
To stabilize the market during the first hour, Upbit has implemented some measures: 5 minute buy limit for the first 5 minutes and a sell limit below 10% of the previous day’s close. These measures are to maintain market stability and prevent excessive volatility in the first few hours of trading.
Will INJ Hit ATH?
INJ is at $23 right now and the recent high was $23.18. Crypto Tony thinks if INJ hits $24 it could go to new ATH and even above $52.75. INJ open interest is up 21% according to CoinGlass.
It could hit ATH soon.
Sources & Methodology
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