CandleFocus Injective Generated More Revenue Than BNB Chain, Avalanche In Q3 2024, Next $50?
2024-10-09
Author: Content Editor
Injective Protocol, a DeFi platform using Cosmos technology, has gained traction and is generating significant revenue from gas fees. In Q3 2024, Injective Protocol generated $4 million in revenue, surpassing other platforms like BNB Chain and Avalanche. However, Ethereum, Tron, Solana, and Base still generated more revenue. The recent success may boost confidence in the native currency, INJ, which has been experiencing a decline in price. Injective Protocol has also announced the launch of Injective 3.0, which will make INJ deflationary and more scarce. The price of INJ is currently in a descending channel, with potential for a breakout and a rise to previous highs of around $52.
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