Injective Announces Injective Builder House 2024, INJ Jumps 5% to Monthly Highs
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Injective Announces Injective Builder House 2024, INJ Jumps 5% to Monthly Highs

  • INJ, the native token of the interoperable layer one blockchain Injective, rose significantly following the announcement of the Injective Builder House 2024.

INJ, the native token of the interoperable layer one blockchain Injective, and one of the top 40 cryptocurrencies by market capitalization, rose significantly in the past 24 hours while the broader digital asset sector remained sluggish.

The INJ token was up close to 5% and was priced at $29.98 at the time of writing. Notably, in the past few hours, the altcoin went as high as $32.85, almost touching its monthly high from a low of $28.22, printing a gain of 16.4%.

Moreover, the trading volume of the INJ token went up 52.16% and is currently standing at $337 million with a market capitalization of $2.79 billion. 

It is important to note that the digital asset is ranked as the 36th largest cryptocurrency by market capitalization and is about to challenge the dominance of Cosmos (ATOM) and Filecoin (FIL).

In the past seven days, the token has witnessed a 12.62% increase in price followed by a 28.48% surge in 30 days. 

While INJ is significantly up from its all-time low price of $0.6557 seen in November 2020, the altcoin is 42.93% lower than its all-time high witnessed in March 2024 at a price of $52.75.

The popularity of Injective surged recently after it debuted the whitepaper for the INJ token and announced Gumi, one of the largest gaming giants based in Tokyo, as a validator. 

The whitepaper outlined the various use cases for the cryptocurrency which also includes staking. The INJ coin will also be used for community-led governance across all parameters of the chain.

Injective Builder House 2024

The price of INJ soared in the last 24 hours after Injective announced the Injective Builder House 2024, described a convergence point for developers, entrepreneurs, and blockchain enthusiasts to explore and shape the future of decentralized finance, on social media platform X (previously known as Twitter).

As per a blog post, the Injective Builder House 2024 is a one-day event providing “an exclusive hands-on opportunity” to developers to build on the L1 blockchain “while also getting direct connections to core contributors, VCs, liquidity providers, and angel investors in the industry”.

“In conjunction with ETHCC, The Injective Builder House will take place in Brussels on Wednesday, July 10th, inviting builders, new and old, to join the Injective mission to democratize finance through decentralization,” read the blog.

Additionally, “Injective aims to empower developers to build groundbreaking applications that can transform the world of finance” through the event and increase the on-chain activity.

Participants will have the opportunity to interact directly with influential people and receive hands-on support. 

Topics will range from integrating the Injective Chain API to ensuring project liquidity, as well as insights into emerging trends in Web3.

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