![]() In February 2019, Binance launched the DEX testnet for the new era of peer-to-peer cryptocurrency trading.100,000,000 units of BNB, which is 50% of the total supply, were offered by the token sale. The altcoin was issued and launched during an Initial Coin Offering (ICO) crowdfunding event that happened between June 26 to July 3. He is the co-founder and CEO of Binance, which is the world's largest cryptocurrency exchange by trading volume. Changpeng Zhao, aka CZ, is a Chinese-Canadian business executive. With a mission to build the infrastructure powering the world's parallel virtual ecosystem, BNB Chain has committed itself to be open, multi-chain, permissionless, endlessly decentralized, for creators and inventors, and bigger than and separate from Binance.įormerly known as Binance Coin, BNB, which stands for "Build and Build," was created by Binance in 2017. Within the Binance Exchange ecosystem, BNB is used as a utility token, allowing users to receive discounts when paying for their trading fees.īNB Chain is the result of the merger of Binance Chain and Binance Smart Chain. It was initially issued as an ERC-20 token on the Ethereum platform, but it was later transferred to the main BNB Chain. States Over Technical Failures, Investor HarmU.S. Market outperformers include ENJ, INJ, and UTK, up by 13%, 10%, and 8%, respectively.Top stories of the day:Robinhood Faces $10.2M Penalty From Multiple U.S. As of 09:30 AM (UTC) today, BTC is trading at $27,853, down by -0.61%.Most major cryptocurrencies by market cap are trading mixed. The global cryptocurrency market cap now stands at $1.17T, down by -0.86% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $27,720 and $28,194 over the past 24 hours. The content provided should not be considered investment advice. Recommended For YouHottest Coins Based on Community Votes RevealedDisclaimer: The views expressed in this article are for informational purposes only and do not necessarily reflect the opinions of TheNewsCrypto. On the other hand, the parabolic SAR hovering below the current price action also points to its bearish state. Despite this, INJ is under the spell of the bears.Injective Token Price Chart (Source: TradingView )According to the above chart, the negative MA crossover - the 8-day moving average overtaking 5-day moving average - confirms the ongoing bearish trend. INJ jumped from $1.27 at the start of 2023 to $9.8 in April and currently hovering between $7.5 and $8. Once the proposal is approved, the migration is likely to occur on June 1 at 14:00 UTC.Injective Still in Bearish ZoneInjective (INJ) has been one of the top cryptocurrencies that hold maximum year-to-date (YTD) gains - 484%. To note, the Avalon upgrade will facilitate the revamp of the Injective Chain - from v1.10 to v1.11. L1 scalability optimizations Sub-Second Block Times PoS delegation revamp- 28, 2023 The Avalon Mainnet Upgrade has been initiated to bring you the most powerful version of Injective to date.The gov proposal is active and the upgrade scheduled to occur later this week. Currently, it stands as a proposal with 99.74% approval. ![]() Furthermore, this Cosmos IBC-enabled blockchain has lined up a protocol upgrade, Avalon, for this week. Just before the notable spike, the project initiated a weekly burn of 5,689,124 INJ. On May 27, daily trading volume was at $2,520,236 and it rose to $15,342,611 on May 29 after surging by 508%.In spot markets, INJ volumes observed a 671% surge - from $528K to $4.07M - and in derivatives markets, a 465% surge - from $1.9M to $11.2M. In the past 3 days, Injective trading recorded astounding surges in volumes. Significantly, INJ’s 24-hour price surge on Monday bolstered its spot on the top gainers’ charts.Remarkably, the trading volumes of INJ highlight a positive landscape. INJ’s trading volume spiked 508% from $2.5M to $15.3M in 3 days.Injective’s new protocol upgrade - Avalon - is expected to commence on June 1.Cryptocurrency Injective (INJ) shoots up to the top, capturing investors’ attention with its three consecutive daily green candles laid this week.
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