Injective INJ token saw a surge in investor interest today, April 18, following an exciting new partnership announcement that marks a significant turn for the Cosmos-based layer 1 blockchain. In a recent official statement, Injective unveiled a strategic collaboration with Jambo, a Web3 mobile infrastructure provider, with the shared goal of offering Web3-based opportunities to emerging economies in Africa, Southeast Asia, and Latin America. Moreover, the recent news caused the price of the token to surge after the announcement.
Exploring Injective Collaboration with Jambo
Injective’s latest partnership with Jambo is focused on bringing blockchain-driven financial solutions to developing markets through a specially designed smartphone, JamboPhone. In addition, this collaboration will integrate several native Injective dApps, such as Ninji Wallet, into JamboPhones, allowing millions of users to seamlessly access the Injective ecosystem.
Jambo is committed to connecting emerging markets with the digital world using affordable and user-friendly technology. Moreover, their JamboPhone, a Web3 Android 13 smartphone, perfectly aligns with this vision and now extends support to Injective’s DeFi initiatives, enhancing accessibility and adoption within these regions.
INJ Token: Price Forecast and Market Trends
Following the announcement, the INJ token experienced a notable price rally, increasing by 15.36% in the past 24 hours and reaching $28.17. Also, the token’s market cap surged by 15.36%, accompanied by a significant uptick in trading volume, indicating a bullish sentiment among investors.
Tradingview data highlights a substantial 28.29% rise in the token’s open interest, reaching $114.78 million, while derivatives volume spiked by 96.52%, reaching $722.33 million. However, these metrics reflect a strong uptrend for Injective, reinforcing its bullish market stance fueled by the recent partnership with Jambo.
Investor enthusiasm surrounding Injective’s cryptographic ventures remains high, with market observers anticipating potential post-halving price rallies. In addition, this partnership underscores Injective’s commitment to expanding its reach and offering innovative solutions to global markets, setting a positive tone for its future growth and development.
About Injective Protocol
Injective Protocol is a decentralized two-layer protocol that unlocks the potential of decentralized derivatives and limitless DeFi possibilities. Moreover, the platform uses the Ethereum and Cosmos ecosystems to create a fast cross-chain trading infrastructure without gas costs. Also, its notable to mention INJ, which is a token for managing the protocol, incentivizing users and providing derivatives.
Injective Protocol is the basis of a fully decentralized crypto exchange that supports a wide range of derivatives, including CFDs, perpetual swaps and much more. Moreover, the system provides a launch environment compatible with EVM, DeFi applications and an area for transferring Ethereum and ERC-20 tokens to Injective. Injective’s order book is completely decentralized and runs on 0x. It allows orders to be passed along a side chain with settlements within the main chain.
