This may not appear to be the best looking chart, but fundamentally it's a great idea. Injective Protocol (INJ) had a lot of success early on, as it offers a service to the blockchain industry as a whole. Its value is in its technology. Where impossible before, a decentralized exchange can now properly document liquidity of assets, and we can get a more accurate reading of prices per DEX now. Cross Chain Dex became a reality shortly after. INJ has a lot to offer in the derivatives field too.
So what's with the chart? BNB is the more famous of the two, as Binance Smart Chain smartly both laid out their marketing campaign, and attacked Ethereums high gas fees, drawing global attention.
2 things are about to happen that will help shape this trade:
1) Ethereums gas fees will reduce as Ethereum implements their controversial restrictions on earning specific mining fees, which actually benefits the traders in this case. This will draw some traders away from BNB back to Ethereum as they chase their gains.
2) Injective Protocol is going to release their Mainnet.
INJ has been hovering around the $12 USD mark after blasting up to $20 from $0.67. This represents a temporary profit taking, and will be traded again at high velocity. Fundamentally, I am behind this trade.
So what's with the chart? BNB is the more famous of the two, as Binance Smart Chain smartly both laid out their marketing campaign, and attacked Ethereums high gas fees, drawing global attention.
2 things are about to happen that will help shape this trade:
1) Ethereums gas fees will reduce as Ethereum implements their controversial restrictions on earning specific mining fees, which actually benefits the traders in this case. This will draw some traders away from BNB back to Ethereum as they chase their gains.
2) Injective Protocol is going to release their Mainnet.
INJ has been hovering around the $12 USD mark after blasting up to $20 from $0.67. This represents a temporary profit taking, and will be traded again at high velocity. Fundamentally, I am behind this trade.