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Injective Price Rallies Following Latest Partnership Announcement – Crypto News

Published

1 year ago

April 18, 2024

Dripp

INJ, the native token of the Cosmos-based layer 1 blockchain Injective, piqued substantial investor interest today, April 18, as its cryptographic venture took an exciting turn with a new collaboration. In an official statement released today, the layer 1 blockchain announced a strategic merger with Jambo, a Web3 mobile infrastructure, aiming to provide web3-based escapades to budding economies in Africa, Southeast Asia, and Latin America.

Following the surfacing of this partnership announcement, the INJ token embarked upon a rising price trajectory, fueling market optimism that aligns with the abovementioned collaboration. Let’s take a closer look at Injective’s merger with Jambo and what it brings to the crypto community.

Injective’s Merger With Jambo: Report

According to Injective’s latest announcement, the collaboration with Jambo aims to bring blockchain-powered financial solutions to emerging markets in Africa, Southeast Asia, and Latin America, via a specially designed smartphone for users, JamboPhone. With the partnership coming into play, numerous Injective native dApps, such as Ninji Wallet, will be injected into JamboPhones, empowering millions of users to access the Injective ecosystem seamlessly.

Jambo is a mobile phone infrastructure firm dedicated to linking emerging markets with the digital world through user-friendly, affordable technology. The firm unveiled its JamboPhone, a Web3 Android 13 smartphone, which aligns with this vision, now offering aid to Injective’s DeFi venture.

Simultaneously, INJ’s price rallied considerably, with the partnership announcement adding a tint of market optimism to the token.

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INJ Price Rallies 15%

As of writing, the INJ token has gained 15.36% in the past 24 hours, reaching $28.39. The token’s market cap surged 15.36%, accompanied by a 24-hour trading volume upswing of 68.59%, pushing it to a bullish stage.

Coinglass data spotlighted a notable 28.29% jump in the token’s open interest, reaching $114.78 million, whereas derivatives volume rocketed 96.52%, reaching $722.33 million. This underscored a strong market uptrend for Injective, further anchoring the token’s bullish take.

This, coupled with the abovementioned partnership announcement, fueled immense investor enthusiasm on Injective’s cryptographic venture. Crypto market enthusiasts remain optimistic on the token’s price action ahead, attributing it to a potential post-halving rally.

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