Cryptocurrency Injective Decreases More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Injective (CRYPTO: INJ) has seen a 3.78% decrease in price over the last 24 hours, continuing a negative trend with a 16.0% loss over the past week. The trading volume has dropped by 57.0%, and the circulating supply decreased by 0.19%, leading to a current market cap ranking of #34 at $2.84 billion.
February 05, 2024 | 7:02 pm
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NEGATIVE IMPACT
Injective (INJ) has experienced a significant decrease in price and trading volume, with a slight reduction in circulating supply, affecting its market cap ranking.
The decrease in Injective's price and trading volume, along with a slight reduction in circulating supply, indicates a negative short-term impact on its valuation and investor sentiment. The significant drop in trading volume suggests reduced investor interest or confidence, potentially leading to further price declines. The decrease in circulating supply is relatively minor but contributes to the overall negative trend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100