Cryptocurrency Injective Up More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
Injective (CRYPTO: INJ) has seen a price increase of 3.96% in the last 24 hours, reaching $40.08, despite a 5.0% decline over the past week from $42.18. The coin's all-time high is $45.01. Trading volume has decreased by 36.0%, and the circulating supply has dropped by 0.49% to 84.73 million. INJ's market cap ranks it 27th at $3.37 billion.
January 16, 2024 | 3:02 pm
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Injective (INJ) has experienced a short-term price increase, contrasting with its weekly downward trend. The decrease in trading volume and circulating supply could indicate a consolidation phase.
The price increase of Injective (INJ) over the past 24 hours, despite a weekly decline, suggests a potential reversal or a temporary bullish sentiment among traders. The reduction in trading volume could either be a sign of decreasing interest or the calm before a more significant price move. The slight decrease in circulating supply might be contributing to the price increase due to reduced selling pressure. However, the cryptocurrency market is known for its volatility, and the recent price action does not necessarily indicate a sustained upward trend.
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