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injection (Eng), which describes itself as the fastest proof-of-stake layer-1 blockchain that is “shaping the future of finance”, has seen its price increase recently.
In fact, over the past seven days, it has gained more than 30% in price, making it the best-performing cryptocurrency of the top 100 by market capitalization over this time period, according to CoinGecko.
The rally has come down in the last few days.
Eng/USD was last changing hands near $9.0, down nearly 10% from the previous weekly high of $10, but up nearly 10% from the previous session’s low of $8.0.
In the Month, Crypto Surprising More than 100%,
Meanwhile, the gain on the year is above 600%.
INJ has a market cap of around $720 million, ranked 67th Largest cryptocurrency in the world.
Cryptocurrency pump comes ahead of partnership announcement with Chinese tech giant ten cents Megh subdivision.
According to a tweet by the official injection Twitter account on 17th In April, the two are joining forces to “support the builder in the injection ecosystem”.
“The purpose of this collaboration is to contribute to the development of the Injective ecosystem, starting with the developers at the Injective Global Virtual Hackathon”.
For context, Tencent is the largest Chinese company by market capitalization and one of the largest in the world.
So partnership is a big deal.
The blockchain recently passed the 200 million mark, which is a pretty impressive milestone.
Where’s next for injection (INJ)?
It is no surprise that INJ has lost momentum in the $10 region.
This was a major local top from back in early February 2022.
If the cryptocurrency is able to maintain its recent upward momentum and breaks above the key psychological $10 level and resistance in this area, the $14-17 area could act as a mid-2021 high to 2021 resistance. A cloud side rally is on the cards.
This would mark another rally of at least 60% from current levels, small fries compared to the gains already posted by Injection so far on the year.
However, given that the cryptocurrency is overbought with a score of 75, the 14-day Relative Strength Index (RSI) of INJ is indicating that the risk of profit-taking is high in the near-term.
DeeLance (DLANCE) – an injectable (INJ) option to consider
While the near-term price outlook for Injective (INJ) is potentially very strong, investors should always be looking to diversify their crypto holdings.
One high-risk-high-reward investment strategy that some investors may consider is getting involved in crypto presales.
This is where investors buy tokens of up-start crypto projects to help fund their development.
These tokens are almost always sold very cheaply and have a long history of pre-sales providing huge exponential returns to early investors.
Many of these projects have great teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their pre-sale investment is great.
on the team cryptonews Spends a lot of time combing through pre-sales projects to help pick out investors.
One such project that the team has identified as having very strong potential is deals,
DeeLance, which is building an immersive non-fungible token (NFT)-powered metaverse platform to unite businesses and freelancers, has been billed by observers as revolutionary for the recruiting industry.
In just a few weeks since the launch of the pre-sale of its DLANCE tokens, the project has already raised nearly $300,000.
Investors are encouraged to act quickly to secure the coin, as the price will soar from its current super-cheap $0.025 level in four days.
Considering that DLANCE will debut later this year at $0.53 on major cryptocurrency exchanges, investors who join now could be sitting on profits of over 100%.
